Vol 10, Issue 4/2002

Accounting is a must

Basics of financial accounting for freelance trainers.
By Thomas Bannenberg

After the topics of advertising, insurance, registering a business, tax deduction of training costs and the limits for being exempt from income and turn-over-tax, which Thomas Bannenberg looked at in our two recent editions, this edition will help to explain profit accounting, what is relevant to tax and what is not. Freelance trainers are allowed to document their profit by using the income-surplus sum of which an example is given as well as the "American Journal" for gathering running costs. The author gives more important hints on the topic which will help to achieve hassle free interaction with the tax office.



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