Partnership or VOF
Taxation is a difficult matter for many entrepreneurs and private individuals, while there are so many opportunities for the entrepreneur and the partnership or VOF. It goes without saying that you do not file an incorrect tax return, apply prohibited tax constructions or keep a sloppy administration. When you delve into tax matters, or receive expert tax advice on tax regulations and laws, there are important benefits to be gained and you are protected against sanctions, fines, legal proceedings and the like.
Our reliable expert tax specialists, who all have years of experience, see every opportunity. We turn these opportunities into benefits for our customers and protect them. Often this has immediate results, so that the financial position improves. All our tax specialists have years of experience and the mr. title.
What is a partnership or general partnership (VOF).
A VOF is a collaboration between 2 or more people who want to do business together. This is the most accessible form of enterprise in which cooperation with several people is possible. A partnership is also a collaboration between several people, the difference lies in the liability. Doctors, architects and physiotherapists are professions in which people often opt for a partnership. A collaboration in which everyone is an independent entrepreneur.
In a VOF you have to deal with different taxes:
- Income tax: Every partner who meets the requirements is an entrepreneur for the tax authorities, and can therefore also use the schemes for entrepreneurs.
- VAT: For VAT, the VOF as a whole is an entrepreneur. For example, if you have a partnership with 4 people, then all 4 are entrepreneurs for income tax, but the VOF is entrepreneur for VAT.
- Payroll taxes: If you are going to hire people on behalf of the VOF. You will of course have to deal with payroll taxes for the staff who have been hired.
VOF or partnership is a legal form without legal personality
In a general partnership (VOF) or a partnership, one is liable with the private assets for debts from the company. When you start and your company makes little profit, a VOF or partnership is often the most advantageous for tax purposes. There is a self-employed deduction and there is no obligation to have annual accounts, which entails the necessary costs.
A BV or NV does have this obligation to provide annual accounts. A notarial deed is also required upon incorporation. A BV has higher costs, but a lower tax burden than a partnership or VOF.
The difference between a VOF and partnership?
A VOF or partnership consists of at least 2 people. The partners or partners investing in the company concerns money, goods, labor, etc. What is earned is divided among the partners or partners. The difference between the partnership and the VOF lies in the liability:
- VOF: each partner is jointly and severally liable for the debts, even if those debts have been incurred by another partner. A collaboration under one name, for the same product or service ensures a joint responsibility. A VOF is best suited for this. All partners are also liable for debts incurred by the other partners.
- Partnership: each partner is liable for its own debts, and for a proportional part for the debts of the partnership. A collaboration under one name, but each with its own practice is suitable for a partnership. For example, lawyers, tax advisers or general practitioners.
Choosing the right legal form is a difficult matter for many entrepreneurs and private individuals. Partly due to our expert tax specialists, who all have years of experience (all tax specialists min. 25 years of experience and mr. title), we see all the possibilities. We turn these opportunities into benefits for our customers and protect them. Choosing the right legal form is an easy task for us.
Questions from entrepreneurs about a partnership or VOF
The following questions that we regularly receive from entrepreneurs who have or are part of a partnership or VOF:
- How much is the income tax for a partnership or VOF?
- What is the tax burden for a partnership or VOF?
- Which costs can be regarded as operating expenses?
- How do I value the assets and debts on the balance sheet?
- Can I depreciate on assets?
- Do I receive tax concessions if I invest in company assets?
- Am I entitled to a salary with our VOF or partnership?
- Can my wife and/or children be on the payroll of the partnership or VOF?
- What is most advantageous for me; Driving in a company car or in private?
Many other tax questions and issues are asked to our tax specialists than the above regarding the partnership or VOF. You can also submit all these questions to us. We provide clarity and solve your tax issue or question.
Why tax advice from AGA Fiscalisten at a partnership or VOF?
AGA Fiscalisten stands for high-quality expert tax advice. All our tax specialists are senior tax specialists, have years of tax experience, and have graduated from the university in tax law and hold the title "mr.".
A (senior) tax specialist specializes in tax law while a tax advisor has only completed tax courses. A tax advisor has much less knowledge than a tax specialist and often makes mistakes with potentially significant financial consequences. It is wise not to settle for a non-qualified tax advisor, but to engage an expert senior tax specialist. This way you avoid problems, fines or procedures and you do not miss out on tax benefits due to advice that is not sufficiently expert.
High quality tax specialist; Master title mr. and years of experience
All our tax specialists have years of tax experience and the "mr." title. The most recent developments and changes concern taxation and all relevant legislation is studied and discussed by our tax specialists. This gives us the opportunity to clarify all the problems and issues about taxation. We achieve the best possible result for our customers. Tax advice, tax returns, financial advice, legal advice or discussion partner, AGA Fiscalisten will arrange it for you!
Contact AGA Fiscalisten
The tax specialists of AGA Fiscalisten can do a lot for you, from an answer or advice to your tax questions to guidance throughout the entire process. If you have any questions or issues and would like high-quality tax advice, please contact one of our expert experienced tax specialists for an intake interview free of charge and without obligation.
NEED TAX ADVICE? Call: 040-8489888 1st free and non-binding intake interview. Available by phone: Monday to Friday between 09.00h and 20.00h) We can also be reached by e-mail: info@agafiscalisten.nl or via the contact form on the right side of our website.
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AGA Fiscalisten: Partnership or VOF and our other services
AGA Fiscalisten has the expertise and experience to fully clarify complex tax issues. AGA Fiscalisten provides the most balanced solution and is at your service regarding:
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