How much tax do I have to pay?
One answer to how much tax do I have to pay? depends on your personal circumstances: Do you run your own company, are you only an employee or do you still have an additional job? Of course, the amount of your income also has a decisive influence on the amount of taxes to be paid.
What types of taxes will be charged
Before you can figure out how much tax you will have to pay, you need to first clarify what types of taxes you might have to pay:
- If you are only an employee, then only that falls Income tax plus possibly church tax if you belong to a religion.
- If, on the other hand, you run your own business, then additional trade tax and value added tax attack.
- But keep in mind that theoretically all three taxes could be incurred if you run your own business in addition to your employment.
How much you have to pay
Of course, each of the above types of tax does not have to be paid by you as a lump sum, but depends on the following facts:
Every citizen in Germany has to pay taxes in one way or another. These …
- The amount of income tax depends largely on your income, as income tax is calculated on a tiered basis. There is a so-called exemption limit, up to which there is no income tax and then the income tax rate is increased slowly but evenly.
- Also, keep in mind that the tax bracket you have been assigned will also have a big impact on how much tax you will have to pay. You can get an overview of how much tax you have to pay from Income tax table.
- The amount of trade tax also depends on income, but on the income of the company. How much Business tax If you have to pay, you can also have it calculated.
- You can calculate the amount of any sales tax that may be incurred: Create a list in which you record all expenses and income. The resulting difference between income and expenditure represents the calculation basis for sales tax.
- Example: You have 50,000 euros in income (incl. VAT) and 20,000 euros expenses (incl. Input tax). The remaining profit of 30,000 euros contains 4,789.92 euros of sales tax that you have to pay (30,000 euros divided by 1.19 results in a net amount of 25,210.08 euros).
- This simple calculation only works if all income and expenses have the same sales tax rate. If you have different rates, you have to compile the statements separately according to the sales tax rate.
As you can see, there are quite a few things to consider when answering the question of how much tax to pay. For this reason, you should give yourself a little time to answer this question.
