.Calculating taxation under the flat-rate scheme may seem like a difficult topic if you are a freelancer. Who doesn’t like dealing with accounts and prefers to delegate . This activity entirely to an accountant .When I started my business several years ago. I remember very well how confused I felt. Not so much because of the numbers because in one way or another they have always been part of my life. First with my studies and then as a labor consultant. But because of the emotions that managing taxes and money in general caused me. For a very long time my relationship with money was complicated and today I can tell you that the situation has improved . A lot thanks also to the daily monitoring . I do with for my personal expenses and with the account file for my business.
I remember very well how confused I felt
In this article I will tell you about my experience as a freelancer and former . labor consultant to bring you some awareness and help you calculate taxes and contributions in the flat-rate regime. I will guide you step by step, sharing a small part I believe that as a small business owner you need to be aware . of my professional baggage now belonging to the past, files, useful information and suggestions to better manage the provisions and not find yourself in crisis . When the time comes to pay the F24. I am not an accountant. What I share here is simply the result of my experience from 2010 to today, first as a labor consultant and then as a freelance .
For a very long time my relationship with money
My experience with for the management of the flat-rate VAT number .
How I Manage Tax Provisions and Not Panic.
How much do I have to invoice to earn 1,500 euros per month in the flat-rate scheme?
My past as a labor consultant .
Before starting my career as an SEO consultant , I worked from 2010 to 2013 in a labor consultancy firm in Rome . I dealt with payroll and I believe that as a small business owner you need to be aware . contributions processing for embassies, entertainment companies, small businesses and professional firms. Some of my tasks were. the preparation of contracts;
online communication to the Employment Centre of hiring or termination of an employment relationship .
Before starting my career as an SEO consultant
random checks at the end of the year on tax adjustments;
the online drafting of certificates of fitness for use by entertainment workers;
the reconciliation of the F24s of each individual company to verify that everything was ok in terms of taxes and social security contributions. The most complex procedure of all concerned entertainment companies. Since these were entities subject to Enpals social security contributions and not Inps. the
mechanisms for calculating the contributions were different and very complex to determine. In this case, the magic Excel file created by the owner was there to help me. It is precisely thanks to these cross-checks that I have sometimes I believe that as a small business owner you need to be aware . identified errors on the pay slips processed by the CED of Milan.
In summary, checking with excel files was my daily bread, and I am happy and grateful to have brought that baggage of professional skills with me when I became a freelancer.
Even though more than 10 years have passed since
To this day, even though more than 10 years have passed since I left Rome , I happily fill out the Excel file that I customized to accurately calculate the amount of taxes and contributions even if I have the support of . The company I chose to best manage my VAT number. How to calculate taxes and INPS contributions in the flat-rate scheme . Calculating taxes and INPS contributions if you are like me in
the flat-rate regime is not as difficult as you think. As in all things, a little practice is all it takes .I believe that as a small business owner you need to be aware of how the tax system works, then obviously you don’t have to actually deal with it but knowing the mechanisms you definitely have more control . A bit
The flat-rate regime is a simplified tax regime
The flat-rate regime is a simplified tax regime, designed for small Special Data businesses and freelancers like us. Taxes are calculated on a reduced taxable base. Obtained by applying a profitability coefficient (usually 78%) to the annual turnover. In practice, This means that for example, instead of calculating and paying taxes on a turnover of 20,000 euros. You do it on 15,600 euros. Advantages of the flat-rate scheme
Simplify tax deadlines . You don’t have to worry about complex obligations such as VAT and IRAP.
2024
Determine total revenue (annual turnover): add up all invoices issued during the year. If you use will find them indicated on the dashboard.
Apply the profitability coefficient : multiply the annual turnover by the profitability coefficient specific to your business and you will have the gross income . In most cases it is equal to 78% but if you do not know ask your accountant.
Write down the amount of INPS contributions you paid in 2023.
Calculate your taxable income given by the difference . Between your gross income and the amount of
Calculate the advance payments
Of the substitute tax for 2024. There are two europe cell phone number details methods for this . Historical and forecasting. The first is safer and takes the result of the previous year as a reference. In this case, we multiply the . I believe that as a small business owner you need to be aware . Taxable income by the substitute tax rate and divide the whole thing in half. We will pay 50% by June 30 and the other 50% by November 30. With the second, we take into account the turnover that we expect to collect Calculate then
balance of INPS contributions for 2023: multiply the adbdirectory gross income by the 2023 social . Security rate (26.23%) and subtract the INPS advances you paid in 2023 from the result.
Calculate the advance payments of social security contributions for 2024. Take your gross income. Multiply it by the rate defined by INPS for 2024 (26.07%) and apply 80%. Dividing it in half: pay 40% by June 30 and the other 40% by November 30.
Keep in mind that you can apply
To calculate your 2025 taxes , you can already make. A projection of what you have collected to date Also taking into account the substitute tax and the .The meta description has been specified, but it does not contain the key phrase. !INPS contributions . I believe that as a small business owner you need to be aware . That you paid in June and those that you will pay in November . But the rate of the Separate Management envisaged for professionals not insured with other forms of compulsory social security . Will be communicated at the end of January next year.
