Data specialists, programmers and software manufacturers: tax advice for the IT sector
Tax advice for IT companies requires a high level of industry knowledge. Companies from the IT sector have trusted us for many years.
Tax consultancy is also about more than zeros and ones
IT applications are about much more than differentiating between zeros and ones. The same applies to tax advice and representation at the tax office. It’s about more than just looking at minus and plus, profit and loss.
It is about the overall view from which our clients benefit.
These services are important in tax consulting for IT companies
IT consulting is fast-moving. So is tax law. That’s why it’s important to always stay on the ball. To ensure that you always have an overview of your finances, DATEV Unternehmen-Online gives you access to all essential data and allows you to log in from anywhere in the world via a secure connection.
To ensure that your outgoing invoices are not disputed by customers or the tax office, we recommend preparing a VAT report with clear instructions for the people who prepare your invoices at the beginning and in the event of changes. With or without VAT? Specify the customer’s VAT ID number? Should reverse charge be indicated on the invoice or not?
The report makes it clear.
Typical mandates from IT sectors
- IT consulting company for the banking industry
- IT companies and freelance specialists for system integration
- Supplier of system electronics
- Developer of individual software applications
- IT project planner
- Engineering offices with self-developed or licensed planning software
- IT developer for the automotive industry and banks
- Homepage programmer
Companies and freelancers from the IT sector: typical mandates
Both our professional secrecy and our self-image of discretion and loyalty to our clients oblige us to maintain confidentiality. Below you will find some examples of clients for whom we work as tax consultants, e.g. in the IT sector. If you are afreelancer, you can save yourself a lot of the work that large IT companies have to do.
- Double-entry bookkeeping (instead, you only need to note down the income and expenses and keep the receipts in an orderly manner).
- Accrual of expenses and income.
- Valuations of inventories.
- Annual financial statements (instead, you only need an income statement and must complete the “EÜR” and “S” annexes to your income tax return).
- Disclosure of financial data
- As a so-called small business owner(ask us about the upper limits), you do not have to list VAT on your invoices and pay it to the tax office.
However, you cannot claim input tax either. - Depending on your turnover, you may not have to submit an annual VAT return every month, but only quarterly or even once a year.
- If you are recognized as a freelancer, you are not subject to trade tax and save the expense of preparing a trade tax return.
Accounting: getting it right from the start is cheaper than correcting it
So it can be done with little effort. On the other hand, it can still be complicated and you need an expert to avoid any nasty surprises at the next tax audit.
- Some business expenses regularly lead to disputes with the tax office.
These include, for example, expenses for the company car, gifts to customers and employees, company events, travel expenses, entertainment costs or the costs of a home office. - Commissioning freelancers often leads to problems regarding bogus self-employment, the artists’ social security fund and minimum wage.
If, for example, you enter the receipts yourself or have your own untrained employees do so in the hope of keeping the costs for tax advice low, you should bear in mind that the effort for the professional to correct the mistakes of an accounting layman is often greater than having the entire bookkeeping done by a tax consultant from the outset.
Incidentally, incorrect advance VAT returns have to be corrected and often lead to inquiries from the tax office. If this happens frequently, it could trigger a tax audit or VAT inspection. If the auditor finds that you cannot rely on the figures, they can reject the entire bookkeeping and estimate the profit themselves. Avoid this – with our help!
Tax consulting for the IT sector is about more than just zeros and ones.
Alternatively, you can also reach us by telephone on +49-69-2562 2760.
