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Entrepreneurship for Musicians

Entrepreneurship for Musicians. Conservatory of Utrecht 30 September 2011 Lecture 2. Business Forms: some options. Zelfstandig ondernemer. V.O.F.: Vereniging onder Firma. Maatschap. Stichting. Vereniging. B.V.: Naamloos vennootschap. Being employed. You pay wage tax/income tax

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Entrepreneurship for Musicians

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  1. Entrepreneurship for Musicians Conservatory of Utrecht 30 September 2011 Lecture2

  2. Business Forms: some options Zelfstandig ondernemer V.O.F.: Vereniging onder Firma Maatschap Stichting Vereniging B.V.: Naamloos vennootschap

  3. Being employed • You pay wage tax/income tax • social insurances • More income security • Unemployment benefits • Retirement plan • CAO

  4. Being self-employed: Eenmanszaak • VAT (BTW) registration • No claim to unemployment payments • No Insurances besides Ziekenfonds • You pay less taxes: • Self-employment reduction • Starter-reduction • Investment reduction • Writing off of • Turnover-Costs

  5. Self-employed • Need for bookkeeping (incl. separate BTW reg.) • Minimum work hours 1225 per year as self employed for the benefits • Minimum amount of customers (at least 3) • You have to be independent • Your colleagues have to be independent • Registration at Chamber of Commerce (obliged) • Your VAR says: Winst uit Onderneming (Profit from Undertakings) • Fill out the form: “Voorbereiding Gemeenschappelijke Inschrijving Startende Onderneming. Eenmanszaak vof cv en maatschap”

  6. Free-lance artist • Almost the same as self employed, but no self employment reduction, no starter reduction, no investment reduction • When you work less than 1225 hrs in your company • You can have a BTW number • You can have a regular job besides your free lance work • “Inkomenoverigewerkzaamheden”

  7. Opting In: The Paye Way • Your employer pays taxes • If you’re not regarded self employed • No rights on WW • No deductions of work-related costs • No obligation for bookkeeping • “Semi-job” • Used in combination with the KAR • Means extra work for the customer (if above the KAR amount)

  8. KAR of Kostenvergoedingsbeschikking • SmallArtistsRule • Is usedwhenyou are notselfemployed (with VAR) • Onlyforartists ( sonotfor conductors ) • Max. €163 per performance is regarded as onlyexpenses • End of yearyouget a statement of pay • Easy for the customer • Stillregarded as income (fromothersources) • You have to prove yourexpenses • Above €163 regarded as wage

  9. Kostenvergoedingsbeschikking • Whenyoucan prove yourcosts are higherthan €163 • Askfor a Kostenvergoedingsbeschikking at the belastingdienst • Youstill have to prove yourexpenses at the end of the year • Notapplicablewhen • Selfemployed • Private settings • Payroll

  10. BTW/VAT • Performance: 19% BTW • Composing and arranging: free of BTW • Teaching: • 21 and younger: free of btw • Older than 21: 19% btw

  11. Administration example:

  12. Calculating VAT • You buy a piano for 10.000 euro incl. VAT. VAT percentage is 19%. Ho much is the piano excl. VAT? And how much is the VAT?

  13. Answer: • 10.000 divide by 119, times 100= • 8403,36 ex vat

  14. Calculating VAT • You buy a piano of 10.000 excl. VAT, VAT is 19%. How much is the piano incl. VAT

  15. Answer • 10.000 plus 19*(10.000/100)= 11.900

  16. Payroll Services • Administration Office • Will send a bill for you, including BTW, Loonbelasting and social security fees • Will send you yearly a loonstrookje: wage declaration • Keeps all the administration very simple • Does cost some money! • Is easy for the customer • http://www.artiestenverloningen.nl/

  17. WWIK • Law Income Security for Artists • Max 4 years in a period of 10 years • Around 70% of a state-welfare (1114€) • You can earn up to 125 % of un-employment payment • Extras like money for investments, courses • http://www.cultuur-ondernemen.nl

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