18 February 2020

How is my income calculated?

Simple question: how much did I earn last year? If you have a regular job in a company, the answer is nearly as easy.

Look at your salary certificate and you know it. But then, did you mean gross or net? If you had more than one job or work as a freelancer, the answer is “it depends”. The total of the money that came in doesn’t mean it is all income. In your business you also pay bills and are responsible for insurances. Some business expenses may qualify as private income. Some cost of living could have a business element and might be deductible, so your income is lower.

Get started with Taxdone, we can tell you more.

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Alex Troschel
SimplewealthKickstartTroschel Treuhand & Beratung
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