What you should know about tax accounting

What you should know about tax accounting. In general, we receive different income for the work we do. Perhaps we work full-time, so we are not fully aware of how high taxes are paid by entrepreneurs in our country. We have recently been paying 17% income tax, but this does not mean that these are the only costs of entrepreneurs. It turns out that tax settlement in our country is not always easy, which is why we often outsource it to accounting offices.

We are then sure that everything will be settled correctly. Rather, we prefer to avoid mistakes, because we would have to submit a revision later. Until now, we have most often filled out PIT 37, which is a popular declaration due to the fact that we can include amounts from the generated income in it. From this year on, we will no longer have to do it, because the Tax Office will do it.

Tax settlement – easier than it used to be

Entrepreneurs who most often entrust their accountants with tax settlement or have a professional accounting office with whom they cooperate, settle accounts differently. Thanks to this, they can be sure that the amount of tax, tax deductible costs and deductions are calculated correctly. There may be times when you may find it difficult to settle your taxes. Then it is worth consulting a person who knows it. As we mentioned earlier, the annual tax declaration will be prepared for us by the tax office itself. Until now, people with income in a given calendar year had to submit an annual statement by April 30.

This year there will be no such obligation. The tax office will make the settlement itself, and we will be able to verify it by logging into the tax portal. You will need a trusted profile or PESEL for this, in the next step, you can accept the prepared statement or make changes to it. There will be no consequences if we do not submit an annual tax return. This is a great relief for the forgetful. If the taxpayer does nothing, the prepared tax return will be considered as complex. This is a great convenience that will surely appeal to many people who did not like to make annual settlements.

Comprehensive accounting services for companies

Some people still complain that taxes in our country are very high. Entrepreneurs, in turn, must take into account many factors in order for the income to be satisfactory for them. They pay high contributions, but may also enjoy certain privileges. It often happens that they have high revenues, but the costs of obtaining them are not high, so they have to pay a large tax. Some business owners prefer to rely entirely on professionals, which is why they choose comprehensive accounting services, providing only the necessary invoices and documents. This is a really great help for small, medium and large business owners who still have a lot to do.

Settlement of taxes becomes much easier if we have basic knowledge in this field, but tax law is changing, therefore we are not always able to be up to date. It is also worth remembering that we can benefit from tax relief, for example if we have children. This is a great privilege for parents and a cash injection once a year. Thanks to the amount of overpaid tax, they can get a refund on their account, and this money in the home budget will definitely be useful. Parents still face a lot of expenses in raising their children. Having to buy clothes, shoes, food, trips and other emerging needs makes any money useful, so it is worth using deductions especially if we have several children.

What form of settlement to choose

Tax settlement is different when we run a company and different when we run a business. This is due to the different nature of such companies. Regardless of whether we work full-time or run a business, it is worth remembering to have a basic understanding of how many percent of our income is taken from salary. One of the taxes that entrepreneurs know a lot about is VAT, of which they can be active or passive payers. Comprehensive financial and accounting services are a good way for many business owners to keep their income secure. Many companies strive to have financial liquidity that will allow them to have the necessary amounts for employees’ wages each month. Sometimes it turns out that additional costs arise or you need to buy goods, necessary tools or materials.

The amount of tax largely depends on the type of taxation chosen by the entrepreneur. He can settle on general principles, with a flat tax, which is always 19% or he can use a lump sum on recorded revenues, but then he cannot reduce his revenues by the costs incurred, and sometimes it is also possible to choose a tax card, but you have to meet certain conditions. Then there are no predetermined tax rates, but they depend on specific activities, and the decision on the amount of tax is made by the head of the tax office which is always in the amount of 19% or can use a lump sum on recorded revenues, but then it cannot reduce its revenues by the costs incurred, and sometimes it is also possible to choose a tax card, but you have to meet certain conditions. Then there are no predetermined tax rates, but they depend on specific activities, and the decision on the amount of tax is made by the head of the tax office.