Biereventre Posted January 22, 2003 Share Posted January 22, 2003 We are planning to move to France and intend to sell stained glassware, mirrors, pottery and upholstery. We would like to have a net annual income of 22,500 (15,000) and be legal. After reading through the threads in the financial postings and checking out some of the web sites mentioned. To earn as much as we need, am I right in assuming the following:Wed need to have a gross profit of 37,752 (25,168)Wed have to pay 6,000 (4,000) social securityWed pay income tax at 29.14% totalling 9,252 (6,168)(Ive presumed tax is calculated after SS has been deducted)Im hoping Ive totally missed the point as our French dream is teetering on the brink if this is correct. We were expecting to be walloped for taxes, but 40% deductions on pretty average earnings!!!!!Yours in trepidationPaul Link to comment Share on other sites More sharing options...
val2 Posted January 23, 2003 Share Posted January 23, 2003 I think you will find every business is treated individually and there is no way you can actually predict exactly what you will be paying. Our payments each quarter vary immensely and very often we get bills for some very strange taxes which we incur from building in certain areas. You need a good accountant and if you register with the Chambre de Commerce/Metiers they will give you all the info on accountants,health schemes,pension payments,unemployment payments and securit sociale obligations,plus some of the benefits a new business can also obtain. Doing the TVA return is quite difficult compared to the UK with different rates on various items and no leeway if you cannot get it back by the date or completed properly. Take one step at a time,ask lots of questions and hopefully you will gradually immerse yourselves easily,but don't expect to earn a fortune for a while as cotisations do eat heavily into your finances and never go away. Good luck Link to comment Share on other sites More sharing options...
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