What tax obligations do I have when founding a GmbH?
June 22, 2022 | 50,00 EUR | answered by Ulrike Voss
Dear tax lawyer,
I intend to establish a GmbH, but I am unsure about the tax obligations that come with it. So far, I have been working as a freelancer and have dealt with different tax regulations. Now, I am wondering about the tax obligations that I will have when I establish a GmbH.
Currently, I am working as a sole proprietor and earning income from my freelance work. With the establishment of a GmbH, I want to expand my business and create a legal separation between my personal assets and the company's assets. However, I am unsure about the tax implications of this decision.
My concerns mainly lie in the fact that I do not fully understand the tax obligations of a GmbH and may make mistakes in tax filing or bookkeeping. Additionally, I want to ensure that I can optimize all the tax benefits that a GmbH offers for my business.
Therefore, as an expert in tax law, I would like to ask you about the specific tax obligations that I will have when I establish a GmbH. Are there special tax returns that I, as a GmbH owner, must submit annually? What bookkeeping obligations do I need to consider as a GmbH? Are there any tax advantages that I can use as a GmbH to optimize my tax burden?
I would be very grateful if you could provide me with detailed information on this matter so that I can prepare myself for the establishment of my GmbH as best as possible.
Thank you in advance for your support.
Sincerely,
Jens Wolf
Dear Mr. Wolf,
Thank you for your inquiry regarding the tax obligations associated with establishing a GmbH. It is understandable that you are considering the tax aspects of transitioning from being a freelancer to a GmbH. I am happy to provide you with detailed information on this topic so that you can prepare effectively for the founding of your company.
When you establish a GmbH, as a shareholder and managing director, you will be subject to certain tax obligations. Firstly, as the owner of a GmbH, you must submit an annual corporate tax return. This return will record and tax the income of the GmbH. Additionally, as a managing director, you must also submit a trade tax return, as GmbHs are generally subject to trade tax.
Furthermore, as the owner of a GmbH, you must comply with bookkeeping obligations. You must maintain proper bookkeeping in accordance with the regulations of the Commercial Code (HGB). This includes, among other things, preparing annual financial statements and retaining receipts. The bookkeeping must be done regularly and diligently in order to fulfill the tax obligations.
As the owner of a GmbH, you also have the opportunity to utilize tax advantages to optimize your tax burden. These include, for example, the possibility of profit retention, the tax treatment of depreciation, and the possibility of tax optimization of salaries and bonuses. It is advisable to seek advice from a tax advisor in order to maximize all opportunities and avoid mistakes.
Overall, it is important to thoroughly inform yourself about the tax obligations of a GmbH in advance and, if necessary, seek professional help to avoid errors and utilize all tax advantages. I hope that I have been able to assist you with this information and wish you success in establishing your GmbH.
Kind regards,
Ulrike Voss
