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accounting guidelines in small business

what can you deduct as expenses

notreallyblond
post 1.Aug.2011, 12:29 PM
Post #1
Joined: 1.Aug.2011

Hi there, I live in Skane and I am a "stay-at-home" mom at the moment. However I have time to time contracts as a freelance consultant/business coach. Until now I was paying personal income taxes in the country where our company is registered, however decided to start paying taxes here for couple of reasons.

1. This is where I get back from the community and
2. I think in the attempt to try to save some money on less taxes I am prohibiting myself to get more clients here. Basicallly going "legal" here I expect more income at the end.

As I am a small business and my income is really fluctuating, (dont overwork myself either, concentrating on my llittle one) I decided to go with the individual company form and do my accounting myself. I pretty much understood the differences between the legal set-ups. However didnt find anywhere references or "how-to-do"s how are the laws regarding that subject in Sweden. What can you deduct, what is considered legitimate expenses in the eyes of the Swedish goverment etc. I dont speak much Swedish so English references would be appreciated a lot but if none, Swedish would be just as fine, will use some translator program.´Also one more important question, do you pay taxes on billed revenue, or on actual money you have received?
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summo
post 1.Aug.2011, 12:54 PM
Post #2
Joined: 9.Jan.2010

not sure I have all the answers, but billing revenue - when you applied for F skatt, you will have had a choice of how you intend to account or manage your invoices, either on issue or receipt of payment? Does that make sense. It probably doesn't matter either way in the long run, just make sure you declare very low earnings when you register, otherwise you will pay lots of tax in advance.

You can claim anything as an expense if it is considered a genuine business cost. http://www.skatteverket.se/download/18.6ef...8468/552B10.pdf
this VAT brochure in english gives you some good ideas of what is considered fair, in it's explanations of what you can claim VAT back on. You must be looking at phone/broadband, IT, desk, chair, stationery, car + fuel (either all fuel or just business use fuel depending how you are set up). Treating clients to lunch is counted too. Plenty to go at.
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Furu
post 3.Aug.2011, 01:31 AM
Post #3
Joined: 16.Jan.2008

QUOTE (notreallyblond @ 1.Aug.2011, 01:29 PM) *
I dont speak much Swedish so English references would be appreciated a lot but if none, Swedish would be just as fine, will use some translator program

You need to use a guide for "Enskild Firma".
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Furu
post 3.Aug.2011, 01:31 AM
Post #4
Joined: 16.Jan.2008

QUOTE (notreallyblond @ 1.Aug.2011, 01:29 PM) *
Also one more important question, do you pay taxes on billed revenue, or on actual money you have received?

You mean VAT or Income Tax?
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MXMLLN
post 22.Apr.2019, 04:39 PM
Post #5
Joined: 10.Jan.2019

Updated location of the VAT Brochure - https://skatteverket.se/foretagochorganisat...f680007913.html
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