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Calculation of turnover & profit

How can you calculate your turnover and profit in order to apply for an adjustment of your tax prepayments, for example?

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Estimate turnover

Business income = turnover

Necessary data: Price and order volume

Example: 100 hours per month (order volume) at an hourly rate of € 60.00 (price)

Calculation example:

100 x € 60 = € 6,000.00 per month x 12 = € 72,000.00 annual business income = turnover

Estimate profit

Profit = business income - business expenses (costs)

Business expenses = home office, work equipment & software, business trips or meals, travel expenses and much more.

Calculation example:

€ 72,000.00 business income/turnover - € 12,000.00 business expenses = € 60,000.00 profit

Please note: Health and social insurance do not count as business expenses, but are recognized as special expenses to reduce tax.


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