The money questions people don't want to get wrong. General guidance — for your numbers, ask an accountant on HAL. Are you the accountant? Get paid here.
Ordinary and necessary business costs: home-office share, equipment, software, courses, part of phone/internet, work travel. Keep receipts and a separate account — mixing kills deductions.
Structure follows income and risk: low income and low liability, stay simple. As profit grows or clients demand invoices/liability cover, a company may cut taxes and protect you.
A common rule: 25–35% of net income into a separate account every time you get paid. Better to over-reserve than owe with penalties.
Penalties plus interest, and losing refunds you were owed. If you can't pay, still file on time — payment plans exist; non-filing is the expensive mistake.
Usually your tax residence taxes worldwide income, with credits or treaties to avoid double taxation. Remote workers and nomads: this is the #1 thing to get checked.
Most countries tax selling, swapping and spending crypto as capital gains, and staking/mining as income. Every transaction needs a record — exchanges rarely do it for you.
Invoices, receipts, bank statements and contracts — typically 5 to 7 years. Digital copies are usually valid. A 30-minute monthly routine prevents a nightmare in an audit.
Cash: you report when money moves — simpler, common for small business. Accrual: when the sale happens. Thresholds force the switch as you grow; your accountant times it.
Salary, dividends or a mix — each taxed differently. The optimum depends on brackets and social-security rules; getting the mix wrong is the most common overpayment.
For most freelancers and small businesses, yes: filings, planning and questions work great remotely. Complex audits or multi-country setups may need specialists.
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