When starting your own business, you have to take into account various obligations. It is worth being aware of your monthly obligations from the very beginning. What exactly should you prepare each month? We will explain in the following article.
ZUS contributions
Depending on the type of activity, the ZUS contribution must be paid by the 10th or 15th day of each month. Each entrepreneur must calculate the premium and then pay it on time. To calculate, it is necessary to prepare a settlement declaration and a personal report. Persons who run a sole proprietorship and pay contributions solely for themselves must pay the contribution by the 10th day of each month. In the case of entrepreneurs employing employees, i.e. people who enroll other people for insurance, this period is longer by five days. Please note that these are fixed dates. Regardless of whether it is a working day or weekend, the premium must be paid by the 10th or 15th day, so it is worth doing it in advance.
Advance payment for income tax
Entrepreneurs must make an advance income tax payment on income generated each month. In this case, it is also possible to pay quarterly advance payments. This option will be beneficial for smaller companies and people who are just starting their business.
If you decide to make advance payments every month, you need to write down in your calendar every 20th day of the month. You should also notify the head of your tax office in writing about the choice of this form of payment.
For people who start running a business during the tax year, the date will be the day preceding the start of business, but not later than the day of obtaining the first revenues.
Tax returns
The next item on the list of responsibilities is filing a tax declaration. However, this provision applies only to entrepreneurs who are subject to tax on goods and services, i.e. VAT. Such persons are required to submit a document to the tax office for each month by the 25th day of a given month.
It is also possible to submit tax returns for quarterly periods. This requires a written notification to the head of the relevant tax office. If you want to choose this form, you must deliver the document no later than the 25th day of the second month of a given quarter.
If you are setting up a business during the tax year, you must submit your notification by the 25th of the month following the month in which you started your business.
Entrepreneur’s duties – help of specialists
Running a business involves a lot of responsibilities, it is:
- ZUS contribution
- Advance income tax payment
- Tax declaration
In all these documents it is extremely important to stick to the deadlines and correctly fill in the applications and reports. To make sure that everything is filled as it should be, use the tools available at Szybkafaktura.pl.