Small business owners - Receipts for tax authorities?!
March 20, 2011 | 20,00 EUR | answered by Dipl.BW/SB Ulrich Stiller
Hello,
I really need help...I hope you can assist me.
I am planning to start a small business soon (selling on Ebay - digital codes - VAT exempt). I order my products from Russia (website). I already know that I have to prepare an EÜ invoice for the tax office. But what about the proof of expenses? I pay with an automatic payment system (similar to Paypal) and then automatically receive a kind of "invoice". I would like to know the following:
Main question:
Is such an invoice form (expenses), with the details provided, sufficient? Or does the seller's address need to be included? (I will create my income invoices with Ebay in the sales manager)
FORM:
Date:
Seller: name of the seller
Buyer: My name
Invoice ?: 5384019
Total 8.83 WME (Euros)
Status: paid 8.83 WME (Euros)
Ordered goods:
Quantity: 1
Seller's contact:
play-easy@mail.ru
Second question:
When do I always have to submit my EÜ invoice to the tax office?
Third question:
I am currently a high school graduate and receive child benefit. I work part-time and earn around 350 euros per month (temporary help). What about the child benefit now? I am allowed to earn up to 8004 euros per year. Does my part-time job also count as income? And the business as well? So, practically, am I only allowed to earn around 300 euros with my business?
I hope for a quick response. Thank you.
Dear inquirer,
Thank you for your inquiry, which I would like to answer based on the information you provided and in the context of your situation in a initial consultation as follows:
The form is sufficient for deducting operating expenses.
Small business owners do not have to submit the official EÜR form, a informal comparison of operating income to operating expenses is sufficient.
You must submit your tax returns, including the profit and loss statement, by May 31 of the following year, for the year 2010 this is May 31, 2011. This deadline can be extended upon request. If you are advised by a tax advisor, the deadline is extended to December 31, for the year 2010 until December 31, 2011.
Your own income and earnings are taken into account for child benefit, if they exceed 8,004 euros per year. Income refers to the profit, i.e. the surplus of operating income over operating expenses. You generate income from commercial operations, which is the difference between operating income and operating expenses. Therefore, only the profit is taken into account for child benefit.
Income from a side job counts as earnings if the employer taxes the wages lump sum, as I assume. Such earnings are only taken into account if they are used for maintenance or for vocational training.
I hope I could assist you.
Sincerely,
Ulrich Stiller
Tax advisor / Graduate in Business Administration
