Tax, Accounting and Legal Consultancy in Barcelona

93 218 14 41
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Consultancy for entrepreneurs in Barcelona

As an entrepreneur, facing the world of entrepreneurial taxes can be daunting. However, understanding the fundamentals of taxation is essential to the success and sustainability of your business. With the right knowledge and approach, you will be able to meet your tax obligations while maximizing your profits.

Our entrepreneurship counseling service in Barcelona is designed to help those who wish to start their own business or who have already done so and are looking for guidance to make it successful. We offer a personalized approach tailored to the needs of each entrepreneur, with the objective of maximizing their chances of success and optimizing their tax burden through legal deductions.

GM Tax Consultancy team

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    Entrepreneurship Consulting: Starting a Business

    Professionals and companies

    • Identification of the appropriate structure for the development of the activity (self-employed, company, etc.).
    • Advantages and disadvantages of each type of company
    • Company incorporation procedures

    Registration and registration with the tax authorities

    • Obtaining the Tax Identification Number (NIF)
    • Registration in the Census of Entrepreneurs, Professionals and Retainers
    • Procedures for registering as self-employed or creating a company

    Taxes for entrepreneurs

    • Personal Income Tax (IRPF)
    • Corporate income tax (IS) if applicable
    • Value added tax (VAT)
    • Other tax obligations deriving from the activity

    Accounting and recording of transactions

    • Accounting obligations for entrepreneurs
    • Methods of recording income and expenses
    • Use of accounting and invoicing software

    Periodic tax returns

    • Preparation and filing of monthly, quarterly and annual VAT returns
    • Personal income tax withholdings and payments on account
    • Payment of corporate income tax in installments (if applicable)

    Deductions and tax benefits

    • Identification of applicable deductions and benefits
    • Eligibility for tax deductions
    • Optimization of tax burden through legal deductions

    Withholdings and payments to third parties

    • Personal income tax withholdings on professional services invoices
    • Payments to suppliers and their tax treatment
    • Tax responsibilities with contractors and employees

    International taxation (if applicable)

    • Tax aspects for international operations
    • Double taxation treaties
    • Tax implications of exports and imports

    Compliance with tax obligations

    • Filing deadlines and due dates
    • Consequences of delays or noncompliance
    • Advice on how to avoid problems with the Tax Agency

    Taxation basics

    Taxation is the process of levying and collecting taxes from individuals and businesses by the government to finance public services and infrastructure. There are several types of taxes, such as Income Tax (IRPF), Value Added Tax (VAT), Business Activity Tax (IAE) and Corporate Income Tax (IS), each with its own set of rules and regulations. Understanding the different types of taxes and their implications is crucial to effectively manage your financial affairs.

    Tax obligations of entrepreneurs

    As an entrepreneur, you are subject to specific tax obligations depending on the legal structure chosen for your company. In the case of developing the activity through a company, the most common legal structures for entrepreneurs are the limited liability company (LLC), whether sole proprietorship or not, and the corporation. Each structure has its own tax implications, and it is essential to choose the one that fits your business objectives and minimizes tax liabilities.

    Limited liability companies and corporations are taxed separately from their owners, which entails possible tax advantages and disadvantages.

    Importance of tax compliance

    Compliance with tax laws is of utmost importance for business owners. Failure to comply with tax obligations can have serious consequences, such as fines, penalties and even legal action. Maintaining accurate and organized financial records is crucial to preparing tax returns and ensuring tax compliance.

    In addition, tax compliance goes beyond meeting legal requirements; it also affects your company’s reputation and credibility. Compliance with tax obligations demonstrates your commitment to ethical business practices and builds trust among customers, investors and other stakeholders. It can also open doors to potential partnerships and funding opportunities.

    Tax planning and optimization

    While complying with tax obligations is essential, entrepreneurs can also engage in tax planning to optimize their tax obligations. Tax planning involves making strategic financial decisions to legally minimize tax liabilities and increase tax efficiency. This may include taking advantage of available tax deductions, credits and incentives.

    Working with a qualified tax or accounting professional can be invaluable in developing a sound tax strategy that fits your business objectives. They can help you identify tax-saving opportunities and navigate complex tax legislation, ensuring you make informed financial decisions.

    GM Tax Consultancy
    C/ Aribau, 218-224 – Ent. 2nd
    08006 Barcelona
    T: 93 218 14 41