33% of the annual savings of the self-employed comes from the actions carried out during the last quarter of the fiscal year, as indicated on the platform, Declaring. This highlights a greater proactivity of these professionals in the final stretch of the year, when the end of the year approaches, to try to reduce their invoice with the Treasury.
Declarando has carried out this analysis from the casuistry exposed by the self-employed who go to its platform to automate their obligations with the Treasury, which are currently more than 100,000 users.
“It is important that the self-employed become aware of the importance for their fiscal and financial interests to observe two small details: simulate their income throughout the year to have conscience of what they will have to pay in the following year and follow the advice that may provide them with significant tax savings”, Explains Marta Zaragozá, co-founder and CEO of Declarando.
“If a freelancer does not proactively simulate your income tax return throughout the year, you will ignore how much you have to pay and will do nothing to improve your result“Continues Zaragozá, who claims not to understand, by way of example,”that only 22% of the self-employed make regular contributions to pension plans and that 90% of them contribute the same amount every year, without knowing if this action benefits them in any way for tax purposes ”.
“Here is a bad example of tax planning, which does not contribute to saving money when it comes to being accountable to the Treasury ”.
Pay attention to applicable deductions and plan
In contrast to this attitude, the CEO of Declarando advises pay attention to all deductions applicable to the activity that is carried out; plan in advance the payment of quarterly taxes, so that there can be a forecast of the expense and the certainty that none is forgotten; make a simulation of what is going to be paid in the income statement before the year begins, in order to control the section of personal income tax in which the self-employed person is and optimize its result.
Likewise, other positive attitudes during the self-employed fiscal year to save on the invoice with the Treasury can be: review Social Security contributions, with the intention of raising them above the minimum; control deductible expenses and investments in economic activity to know when to make them and lower the income bracket; optimize savings products or have a sales planning that will occur in the business.