Business income = turnover

Necessary data: Price and order volume

Example: 100 hours per month (order volume) at an hourly rate of € 60.00 (price)

Calculation example:

100 x € 60 = € 6,000.00 per month x 12 = € 72,000.00 annual business income = turnover

Profit = business income - business expenses (costs)

Business expenses = home office, work equipment & software, business trips or meals, travel expenses and much more.

Calculation example:

€ 72,000.00 business income/turnover - € 12,000.00 business expenses = € 60,000.00 profit

Please note: Health and social insurance do not count as business expenses, but are recognized as special expenses to reduce tax.