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Not-realized self-emplyment tax deduction

Dutch translation: niet-gerealiseerde zelfstandigenaftrek

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:non-realized self-employment tax deduction
Dutch translation:niet-gerealiseerde zelfstandigenaftrek
Entered by: Kitty Brussaard

10:04 Jan 11, 2021
English to Dutch translations [PRO]
Bus/Financial - Accounting
English term or phrase: Not-realized self-emplyment tax deduction
I'm translating into Italian a Dutch income tax declaration (written in English)
I found a similar form online at https://belastingaangiftenederland.com/wp-content/uploads/mb...
I am having troubles understanding points 14c and 14e:

14. Profits from business activites: Self-employed tax facility
a. Self-employed tax deduction
b. Tax facility for new companies
c. Not realized self-employment tax deduction
d. Self-employed tax deduction previous years
e. Realized self-employed tax deduction

I do not understand whether such "realised/unrealised" refers to deduction (i.e. not applied?) or self-empolyment profits (i.e. loss).
That's why I wish I would know the original Dutch version.
Thank you for your coop!
EnricaZ
Italy
Local time: 08:17
niet-gerealiseerde zelfstandigenaftrek
Explanation:
This is about what's known as the 'zelfstandigenaftrek'. More specifically, it's about the portion of available self-employment tax deduction that hasn't been claimed (realized) because the self-employed entrepreneur's profits were too low in the financial year in question (or because they died during the financial year in question). Any such unclaimed/unrealized tax deduction can be carried forward to subsequent years.

Niet-gerealiseerde zelfstandigenaftrek

Is uw winst te laag om de zelfstandigenaftrek geheel toe te passen?
Dan verrekenen wij het bedrag aan niet-gerealiseerde zelfstandigenaftrek in de volgende 9 jaar.
Zie voor meer informatie Verrekenen niet-gerealiseerde zelfstandigenaftrek.
U vindt daar ook informatie over het verrekenen bij overlijden.
https://www.belastingdienst.nl/wps/wcm/connect/bldcontentnl/...





Selected response from:

Kitty Brussaard
Netherlands
Local time: 08:17
Grading comment
Thank you for your help!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +3niet-gerealiseerde zelfstandigenaftrek
Kitty Brussaard
4 +2Niet-gerealiseerde zelfstandigenaftrek
Edwin den Boer
Summary of reference entries provided
Forms of self-employment tax deduction
Barend van Zadelhoff

  

Answers


4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
non-realized self-employment tax deduction
niet-gerealiseerde zelfstandigenaftrek


Explanation:
This is about what's known as the 'zelfstandigenaftrek'. More specifically, it's about the portion of available self-employment tax deduction that hasn't been claimed (realized) because the self-employed entrepreneur's profits were too low in the financial year in question (or because they died during the financial year in question). Any such unclaimed/unrealized tax deduction can be carried forward to subsequent years.

Niet-gerealiseerde zelfstandigenaftrek

Is uw winst te laag om de zelfstandigenaftrek geheel toe te passen?
Dan verrekenen wij het bedrag aan niet-gerealiseerde zelfstandigenaftrek in de volgende 9 jaar.
Zie voor meer informatie Verrekenen niet-gerealiseerde zelfstandigenaftrek.
U vindt daar ook informatie over het verrekenen bij overlijden.
https://www.belastingdienst.nl/wps/wcm/connect/bldcontentnl/...







Kitty Brussaard
Netherlands
Local time: 08:17
Native speaker of: Native in DutchDutch
PRO pts in category: 24
Grading comment
Thank you for your help!

Peer comments on this answer (and responses from the answerer)
agree  Edwin den Boer: Sorry, I didn't see this. Added some context in my answer
2 mins
  -> Dank je wel, Edwin. Onze antwoorden hebben elkaar zo te zien gekruist :-).
agree  Ron Willems
3 hrs
  -> Gracias, Ron.
agree  Barend van Zadelhoff: You won't find this literal translation: '[Not-realized] self-employment tax deduction' on the internet. Government (see below) uses 'self-employment tax deduction' for diverse deductions and 'private business ownership allowance' for zelfstandigenaftrek
23 hrs
  -> Thnx. The Dutch Tax Authorities use 'entrepreneur's tax deduction' for the umbrella term 'ondernemersaftrek' and 'self-employment deduction' ('realized' or 'non-realized') for 'zelfstandigenaftrek' in this EN return form: https://tinyurl.com/y5yqxdk3
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4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
not-realized self-emplyment tax deduction
Niet-gerealiseerde zelfstandigenaftrek


Explanation:
Ah, I recognize this from my own tax returns. "Not realized" means the deduction (€7030 in 2020) would be higher than your profits for the year. When your profits are higher the next year, you can apply the unrealized part of this deduction then under 14d.

I'm surprised that 14c is entered in the example form, rather than calculated. It's hard to find an example of the official forms, since these are interactive. 14e is apparently the sum of what you can deduct here for being self-employed.

Edwin den Boer
Netherlands
Local time: 08:17
Specializes in field
Native speaker of: Native in DutchDutch

Peer comments on this answer (and responses from the answerer)
agree  Kitty Brussaard
2 hrs
agree  Ron Willems
3 hrs
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Reference comments


6 hrs
Reference: Forms of self-employment tax deduction

Reference information:
Subsidies and tax schemes for self-employed professionals

This information is provided by Netherlands Enterprise Agency, RVO | Statistics Netherlands, CBS


These subsidies and tax schemes are intended to promote entrepreneurship. To make use of these it is important that the Dutch Tax and Customs Administration considers you an entrepreneur. Also, the number of hours you spend on your business annually is important: in order to qualify for self-employment tax deduction, this must be at least 1,225 hours.

Subsidies and tax schemes

Private business ownership allowance
If you pay income tax in the Netherlands, you will be eligible as an entrepreneur for the private business ownership allowance (zelfstandigenaftrek). This will reduce your taxable income.

Tax relief for new companies
The tax relief for new companies (startersaftrek) is an increase in the private business ownership allowance intended for new businesses.

SME profit exemption
The SME profit exemption (MKB-winstvrijstelling) is an allowable deduction for small and medium-sized enterprises. The number of hours you work for your business is irrelevant in this respect.

Small businesses scheme
If you are eligible for the small businesses scheme (kleineondernemersregeling), you are exempt from paying and charging VAT.

Working partner's abatement
If your partner works in your business for no pay, you may be eligible for the working partner’s abatement (meewerkaftrek).

Tax-deferred retirement reserve
Entrepreneurs in the Netherlands can accrue a pension in a tax-efficient manner.

Discontinuation relief
If you stop trading, you may be eligible for discontinuation relief (stakingsaftrek).

R&D tax credit
If you, as a freelancer/self-employed professional, spend at least 500 hours a year on research and development work, you may be eligible for the RD tax credit (aftrek voor speur- en ontwikkelingswerk).

Funding options and loans
Microcredit
The microcredit facility is available for (start-up) businesses in need of a loan or guidance. This scheme consists of a loan of up to €50,000 and coaching.

More information
Find more information at the general Subsidies and tax schemes section on this website.

Statistics: self-employed professional
Number of self-employed professionals (without employees).

https://business.gov.nl/starting-your-business/starting-as-a...

Barend van Zadelhoff
Netherlands
Native speaker of: Native in DutchDutch
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