Clearing account?
May 5, 2018 | 25,00 EUR | answered by Steuerberater Bernd Thomas
I own various apartments and commercial properties as a sole proprietor. The money flow goes through one account. Can I book directly from the account into the various income statements, or do I have to use a transition account? Do I have to create different clients?
Dear questioner,
I am happy to answer your inquiry based on the information provided in an initial consultation on frag-einen. The response is based on the facts you have provided. Missing or incorrect information can affect the legal outcome.
I strongly recommend that you separate the individual businesses in terms of bookkeeping and also set up different bank accounts. Otherwise, the tax office may consider them as a single operation.
Whether there are multiple companies depends on how closely linked the organizational, economic, and financial relationships between them are. The overall circumstances of each individual case are crucial.
The rental activity should ideally not be processed through an account belonging to another business asset, so that business income and expenses, rental income, and advertising costs can be clearly separated. In extreme cases, the rental activity could be classified as part of commercial activity, which is usually very disadvantageous from a tax perspective.
Kind regards,
Bernd Thomas
Tax Advisor
Dipl.-Kaufmann (FH) Bernd Thomas, Tax Advisor, Neustadtswall 85, 28199 Bremen, VAT ID DE316948369, member of the Hanseatic Tax Advisors Chamber Bremen, registration number 111705, professional liability insurance with R+V Allgemeine Versicherung AG, Mittlerer Pfad 24, 70499 Stuttgart, insurance sum: 250,000 euros per individual claim; annual maximum benefit: 1,000,000 euros (for all damages in one insurance year)
