Choose your tax form It may be the most important decision many freelancers and entrepreneurs make all year.
The regulations allow you to choose this form until the 20th day of the month following the month in which the entrepreneur generated his first income in the calendar year. Our method: in the vast majority of cases by February 20th.
The deadline expires on Tuesday, and a good decision could lead to huge savings. With earnings of PLN 10,000 PLN per month will be one additional salary per year. The more profits, the greater the profits.
Entrepreneurs can choose from general rules (PIT 12 and 32%), flat tax or different lump sum rates.
When choosing the tax form, You have to take into account the amount of monthly costs, but it is also worth taking a look at ZUS and health insurance contributions.
ZUS contributions, ie Social security contributions are fixed, that is, regardless of the form of taxation, they amount to a minimum of PLN 1,600.32 per month (PLN 19,203.96 per year).
On the other hand, health insurance premiums vary. In the case of linear PIT, the contribution is 4.9%. It is calculated on income with the PIT scale – which is also 9%. We take into account income, but in a lump sum – fixed rates apply.
The decision should be made only when we take all these aspects into consideration. It's also worth noting that some lump sum rates have restrictions. Not all industries can benefit from all prices. This was explained by Lukasz Zalewski in one of his texts in Business Insider Polska.
Also compare all possible forms of taxation. Depending on the income (10, 20 and 30 thousand zlotys per month), the differences can be huge. In an extreme case, a good decision might mean getting PLN 65,000 per year. PLN higher income from bad choice.
So how do you decide? Specific accounts and a sample of income can be found in this text on the Business Inisder Polska website.
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