The month of January for entrepreneurs and freelancers, represents the beginning of a new year with the hope, in the first place, that it could be better than the one just passed but with the concern that the year just ended may leave tax aftermath in June when the accountant will present the tax account on time .
There are many who, even in January, try to put a piece to the too high profit of the tax period recently archived, asking the accountant to do something or, the most adventurous, looking here and some "paper mill" to reduce income taxable with the creation of fictitious costs .
My advice is not to reduce in January to look for the buffer solutions to stem the amount of taxes to be paid in June, but to set up a prudent management that keeps under observation monthly costs and revenues and allows you to take the right measures in course of work and not in January with the classic " invoices to be received " that is to say competence and dated in the old year but already registered in the new one, which in a way, at least, suspect the taxable profit. Know what expenses are deductible and / or deductible : for example, medical expenses, some insurance contracts, costs for educational courses, veterinary expenses, costs for renovating buildings, for energy saving, social security contributions, etc .;
– The choice of an appropriate legal form : fundamental in relation to the type of activity carried out and the prospects for growth and turnover that one has. A proper corporate form can save you thousands of euros of taxes each year and a lot of bureaucracy. You must be able to know if, in your case, it is better to remain a freelance registered in the separate management of INPS or to put you in company and open a sas or a srl;
– The company car and the mobile phone : for a freelancer the company car and the mobile phone, also used in a promiscuous way for the business, and not, can give rise to a deduction related to the costs of purchase and use as well as in terms of VAT deductibility. Telephone costs for mobile phones, used in a promiscuous manner, can be reduced to 80% while VAT is 50% deductible, for promiscuous use, and 100% for exclusive business use. Also regarding the company carit is possible to deduct the costs of purchase and use up to 100% if we are talking about vehicles that respect the principle of inertia with the activity carried out (the truck for a hauler), or to a lesser extent for the vehicles used promiscuously. 80%, for vehicles used by sales agents and representatives, and 20% for others;
– Entrust outsourcing services : it seems a paradox, but some less significant and important functions for your business would be better managed through external suppliers, thus saving staff costs and enjoying greater flexibility;
– Take advantage of sports sponsorships or invest in advertising : it is a very convenient form that allows you to save several thousand euros of fees by reinvesting them in advertising or marketing that can allow you to multiply your earnings by downloading the costs to 100%;