Depreciation allows property owners to reduce annual income taxes by deducting a percentage of the property’s value as an expense, but it increases the taxable capital gain when the property is sold, potentially leading to higher future tax obligations
When an individual or company buys an asset that will have a utility life over a number of years the tax system does not allow for the deduction of its cost as an expense in the year in which it was purchased.
Starting as an autónomo (self-employed worker) in Spain can feel overwhelming, but understanding the formalities and obligations for your first year can set you up for success—and even help you benefit from an additional year of the tarifa plana reduced social security contributions. Here’s what you need to know:
If you’re about to register as self-employed (autónomo) in Spain, your first question is usually: “How much will this cost me?” Below is a simple, realistic overview of the most common costs and obligations, so you can build your business plan without surprises.
Limit Consulting