Saving expenses by being self-employed
is a difficult task due to the amount of money that the person who decides to create their own company has to invest. However, it is not impossible. Therefore, in this article we make a list of the different expenses that can be reduced.
Something that the self-employed struggle with every day is their fixed expenses. Regardless of what is billed, these will be the same each month. Therefore, facing them when there has been a decrease in income is a complicated task.
Especially in the beginning, it is important that the entrepreneur is informed of all the formulas that allow him to save being autonomous.
These can be tax benefits that have been approved to promote the creation of companies or small habits that, little by little, will make a difference.
Freelancers can also have too high expenses that can easily be reduced and this aspect will be very important when it comes to ensuring the good direction of the company.
How to pay less as freelancers once and for all
It is known that there are deductible expenses in the IRPF for the self-employed.
However, this is not something simple by any means. The Treasury imposes a series of very strict requirements, which will have to be strictly complied with to avoid problems, inspections and sanctions.
Thus, for the Tax Agency to allow the deduction of expenses,these must be directly linked to the economic activity of the self-employed or be a necessity for the development of it.
In addition, they have to be justified through invoices. Therefore, the self-employed must ask for them in those establishments where they buy what they want and can deduct.
All this money spent must be collected in the accounting books and records of the company.
Save money by being self-employed with Social Security bonuses
Since 2013, social security allows a reduction in the self-employed quota of up to 80% (in some cases) during the first 12 months.
This is a great savings mechanism, since the fee that the self-employed have to pay is high and difficult to achieve with benefits, at least at the beginning.
Work at home or rent a coworking space
As we already told in this post, the list of tax deductions increases if the self-employed work from home. In this way, the IBI, the garbage or the interest on the mortgage will be deductible depending on the space of the house that is used for work.
However, this is not a viable option for everyone, as it is likely that you can not work at home or that the type of open business is not compatible with this. Therefore, there is another solution that can be very interesting for the self-employed: a coworkingspace.
This formula allows you to share an office with other entrepreneurs, saving up to 60% on the expenses derived from it such as electricity, water or rent.
Find a trusted advisor
Sometimes, it is more profitable to invest in a good tax and accounting advisor
and, in addition, to be informed about the aids and laws that can favor the entrepreneur.
You have to look for a professional advice that is up to date with the laws and does not leave anything in the inkwell. This investment can make the difference between success and failure.
Do you need a professional tax and accounting consultant?
Get in touch with AYCE Laborytax
and we will guide you not only so that you can save expenses by being self-employed, but also so that you can obtain professional advice in labor, accounting and tax matters.
Make budgets and control expenses
A fundamental factor is to keep the accounts up to date and, above all, to take them well.
The self-employed worker must know at all times what he spends and what he spends it on.
This will allow you to make an assessment of what are needs and what are other expendable expenses.
Save on light
In many cases, doing an energy audit can be of great help. However, you should always pay attention to the following factors:
- Have an adequate contracted power.
- Use LED bulbs.
- Always check the invoice for errors.
- Use electronic ballasts.
Adjust the phone rate
Having a proper mobile rate is paramount to saving. There are many specific packages for freelancers that offer the necessary telephone uses at a lower price.
Conclusion: Saving by being autonomous is possible
All these measures are very useful when it comes to cutting expenses. However, each entrepreneur must analyze what their expenses are and make a planning to know where they can find the savings.
In this way, it can be observed that it is possible to save expenses by being autonomous. You just have to sit down to evaluate these disbursements and get rid of the waste. By following these tips, savings are assured.