Hey could someone explain how the expenses work say i have 1000 euro in expenses does that come off my overall tax or is a percentage taken from the total expense amount then minus the tax bill ?
Thanks in advance
Welcome to the community!
Regarding your inquiry, suppose your expenses amount to 1000€.
These expenses are factored into the computation of your net income, which is your income minus expenses. However, it’s essential to understand that not all expenses are deducted equally. Therefore, while the full 1000€ is considered, it may not all be fully deductible.
Different expenses have varying degrees of deductibility, so the final deduction could be less than the total expense amount.
I hope this was of help. If you need assistance with anything else, please let me know!