Bulgaria Self Employed Tax Calculator? Why you need an Accountant instead

Professionals who are self-employed may find Bulgaria an attractive destination to set up their business operations, not only thanks to the famous 10% tax rate on income, but also due to its beautiful landscape, fantastic culture, interesting people, and vibrant cities. 

As with many other countries, Bulgaria has seen exponential growth in the number of self-employed professionals and companies more willing to outsource certain short or long-term projects to outside contractors, certainly creating a more interesting business environment.

Utilizing a Bulgaria self-employed tax calculator could be useful for those interested in having a general idea of what their taxes will look like and maybe compare to their situation in another country.

However, there is nothing like opting for accounting services in Bulgaria. Your accountant will be able to prepare tax reports, keep track of your self-employed business bookkeeping, and even advise you on the best financial strategies to make sure you are making a profit, taking advantage of the Bulgarian tax scheme to its fullest.  

Let’s find out why you need a professional accountant and why it should be preferred to a Bulgaria self employed tax calculator tool.

Read also: Bulgaria Freelance Tax: the complete Guide

What is a Self-Employed Tax calculator?

A tax calculator can be a very useful tool for those interested in understanding their taxes in more detail, as well as estimating what their net income will be after taxes and securities.

It can be quite valuable for those considering company registration in Bulgaria or for those interested in engaging the highly educated and multilingual Bulgarian workforce. 

But how does a Self-Employed Tax calculator work?

Bulgaria self-employed tax calculator is based on an algorithm that analyzes the information an individual fills in each given category. The algorithm quickly calculates all mandatory deductions for social and health securities, as well as income tax, providing you with a very accurate net salary. 

This calculator asks for certain details to compute the net salary based on the gross income (therefore presenting taxes to be paid and social securities). 

While they consider a variety of aspects, like the type of contract (employee or self-employed), how long they have worked in such business, age, etc. they are nothing else but a good tool to have a general idea of taxes.

Why do you need an accountant in Bulgaria?

There are many reasons we are going to list why you need an accountant in Bulgaria. While we always emphasize how straightforward the tax system is in Bulgaria, this doesn’t mean it is necessarily an easy thing to do, without even naming the fact that the language can be a pretty big obstacle for some. 

Relying on an accountancy company in Bulgaria can help you grow your business as a self-employed professional. 

Let’s list the many reasons that make engaging the services of an accountant in Bulgaria a great idea if you are a self-employed professional:

–        They can keep up with the bookkeeping and daily accounting.

–        They can prepare and present tax reports, and deal with audits in a more efficient way, saving you time and energy that can be dedicated to your business.

–        They can deal with VAT refunds if that’s necessary.

–        Your accountant will most likely speak different languages, breaking the communication issues you may have as a foreigner residing in Bulgaria. This will no doubt be an asset.

–        Your accountant can actually help your business grow, help get rid of unnecessary costs, and be part of unlocking your business’ growth.

–        Accountants often work as financial advisors, and tax consultants and can best advise on what business structure is more beneficial to you and your business. 

Read more about How much is Bulgaria Dividend Tax? All the information you need

Conclusion

If you are not convinced that being a self-employed professional is the right fit for you and you are considering to start a company in Bulgaria, or maybe registering as a Sole Trader, your accountant is the best person to help you make the best possible decision. 

They can advise you on the best way to move forward with your business, maximize profit, reduce costs, and keep growing. 

But, the most important part is to choose a Bulgarian accountancy company that you can trust. And we trust no one like we trust Accountancy Bulgaria, a company with more than 30 years of experience, offering a variety of services that can be tailored to your needs, and an excellent reputation. You can contact them for a free consultation.