Unlike corporations, a sole proprietorship or partnership is not an independent taxable entity. Each partner pays taxes on the accumulated business income or business asssets as well as the other private income an assets. Attention must be paid to this particular tax situation.
PrimeTax supports self-employed people with the following services:
- Establishment of sole proprietorships and partnerships
- Correct reporting of business profits and assets and transfer to the tax return
- Tax planning in the event of conversion to a corporation
- Support in the case of transfer of business related assets (e.g. real estate) to private assets
- Support in questions of differentiation between private and business assets
- Tax analysis of professional trading in securities, cryptos or real estate
- Claiming privileged liquidation taxation at liquidation of a sole proprietorship or partnership
