Self-employed

Which tax reserves should freelancers build?

Self-employed expats face two parallel tax flows that catch a lot of newcomers off guard.

VAT (Umsatzsteuer) belongs to the Finanzamt the moment a customer pays the invoice. If you are VAT-registered, treat that 19% (or 7% for reduced rate) as money already owed — not as part of your operating cash. The simplest way to avoid disasters is to transfer it to a separate account immediately, or pay it directly to the Finanzamt at the next pre-payment deadline.

Income tax (Einkommensteuer) is paid in quarterly pre-payments (Vorauszahlungen) based on the previous year's profit, with a final reconciliation after your annual tax return. The pre-payments rarely match your actual liability exactly — strong years usually mean a meaningful additional payment after the next return, and the Finanzamt will often increase your pre-payments going forward at the same time.

The 25–35% rule of thumb on each invoice is a reasonable starting point for income tax, but the right percentage depends on your bracket, marital status, deductions, church tax registration and whatever other income you have. For very high earners the figure tilts higher; for moderate earners with significant deductions, lower.

The single most reliable habit, regardless of percentage, is a dedicated tax account into which a fixed share of every incoming payment is moved automatically. The second is a Steuerberater for at least the first year of self-employment, to set the pre-payment level realistically and avoid surprises.

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tax reservesfreelancerself-employedcash flow