How and Why to Start as a Sole Proprietor

Sole ProprietorshipWhy and How to Start One

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Senol Tapirdamazassistent accountant

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Who I am and what I do:• Work: De Wert accountants &

belastingadviseurs• Starting companies and growers SMEs• Annual reports, fiscal declarations• HRM, DWO• Marketing& Sales• de Stropdassenman :)

the Edeity knot

Our Vision

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Important EventsLife is Full of

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StartingLike

GrowingLike

EndingLike

Choices Affectthe future of your company

Rest Assured with De WertNo Matter What Phase

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Let's start

My Own Businesscc: Peter Ras - https://www.flickr.com/photos/48395185@N03

cc: Hjem - https://www.flickr.com/photos/48600099788@N01

• consultancy firm• advice or construction work• full or part-time entepreneur• shop• construction work

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Infinite

possibilitiescc: zeevveez - https://www.flickr.com/photos/29001414@N00

Plant before Pluckingbut be sure to

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Self-Employed Entrepeneurcc: Mark Sardella - https://www.flickr.com/photos/11125702@N00

Self-Employementcc: Leonard J - https://www.flickr.com/photos/67953162@N00

cc: The philosopherالفيلسوف - https://www.flickr.com/photos/87417295@N00

Independancecc: swong95765 - https://www.flickr.com/photos/29487672@N07

BUT

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Own Expenses

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YOU

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there areSorry

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• Paying taxes• VAT• Keeping records

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Preparationis key

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Before Chamber of Commerce

• Permit to start a business in the NL?

• Business Plan?• Legal Form & Trade Name?• Taxation / Insurance?• Location?

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From outside the EU?

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Legal Forms

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aka Sole Trader / Sole ProprietorOne Man Business

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Pro's!• Easiest business entity to start• Cheapest business entity to

start• Quickest business entity

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the Con's• No protection or your personal assets

(or your partners)• Everything is attached to your

personal credit• Some may view it as less trust worthy

(even in 2016)• No social security

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Setting UpA One Man Business

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Keep in mind• More than 1 trade name• Liability is all on you

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Keep in Mind• Taxes and Social Security• Continuation of your business

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TTTSPcc: Thomas Hawk - https://www.flickr.com/photos/51035555243@N01

1.225h per yearFor several Tax Allowances

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Tax Allowances• Entrepeneurs Allowance• Starting Entrepeneurs

Allowance• MKB - Winstvrijstelling

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The Rules of Engagement

Tip 2

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Investment Allowances• Investment needed for the

business, with a life expectance > 1 year

• Investment > € 450 excl. VAT• e.g. Computer, Tools, Machines• Invested > € 2300 = 28% deduction

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Sold an investment item?

Form a Reinvestment Reservecc: leekelleher - https://www.flickr.com/photos/52221730@N00

Tip 3Depreciation

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• Investments can be depreciated in 5 years (20% per year)

• Starter? Random depreciation

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Tip 4Automobile

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Private or Business Car?

FAQcc: Damian Morys Photography - https://www.flickr.com/photos/26977717@N02

• Business car: aggregation on your income UNLESS < 500km private

• Business car: all costs are business costs, vat is deductable

• Private car: no costs are business costs, no tax deductable

• Private car: 19 cent per kilometercc: cavale - https://www.flickr.com/photos/48556423@N00

TIP 5Business costs made from Private

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Tip 6!cc: GotCredit - https://www.flickr.com/photos/30576334@N05

The VAR is now DBATip 7

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Yes more Taxes

Tip 8cc: ChuckHolton - https://www.flickr.com/photos/69351904@N00

Tip 9

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Best for last

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You don't have todo everything yourself

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Do you have questions?Thank you

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