18 Februrary 2020

The distinction between private and business

This is not only key to successful friendships and marriages. The tax authorities are keen to ensure you don’t mix private and business-related income and expenses.And of course, there are some grey areas. What type of car is necessary for mybusiness? If a friend becomes a client and we have dinner together, what do Ido if I paid the bill? What if our partners are there as well?

As you are not the first person to come across these questions, there are several guidelines and the tax authorities have provided various standard solutions.

So, don’t despair- make use of the available options.

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Alex Troschel
SimplewealthKickstartTroschel Treuhand & Beratung
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