Dit Is Hoe Jij Minder Belasting Betaalt - Thimos Suijkerbuik

Name: Dit Is Hoe Jij Minder Belasting Betaalt - Thimos Suijkerbuik
Uploaded: 2025-09-03T09:38:46.000Z
Duration: 2 h 10 min 15 s

Understanding the Role of Accountants and Bookkeepers

Introduction to the Podcast

Welcome to the "Steenrijk" podcast, hosted by Dennis Mulder, featuring Timos Suikerbuik from Ambitiecountants. The discussion focuses on financial management and accounting practices in the Netherlands.

Differences Between Accountants and Bookkeepers

Timos explains that anyone can call themselves a bookkeeper after registering with the Chamber of Commerce, but this is not recommended due to varying expertise levels.

An accountant is a protected title requiring specific qualifications; their expertise is generally broader than that of a bookkeeper. A bookkeeper may suffice for small businesses or freelancers, but larger operations benefit from an accountant's services.

When to Hire an Accountant

For those operating under a BV (limited liability company) structure, hiring an accountant is advisable. If you're a sole proprietor making significant investments, consider consulting one as well. However, if earnings are modest (e.g., €10,000 annually), continuing with a bookkeeper may be sufficient.

Transitioning from Sole Proprietorship to BV

The conversation shifts to when it’s beneficial to transition from being a sole proprietor to forming a BV. Recent changes in tax laws have made this decision more relevant for many entrepreneurs as benefits now appear at lower income thresholds than before (previously around €150,000).

Current advice suggests considering transitioning once profits exceed approximately €90,000 due to diminishing advantages of remaining a sole proprietor as income increases. This threshold may continue decreasing in future years due to further reductions in self-employed deductions for sole proprietors.

Understanding Tax Implications

Timos discusses how tax rates differ between sole proprietorships and BVs: above €75,000 income leads to higher tax rates (49.5% for sole proprietors vs 40% for BVs). Thus, transitioning becomes financially advantageous at around €90,000 profit level where BVs become more favorable due to lower effective tax rates on distributed profits through dividends rather than personal income taxation.

Risk Considerations in Business Structures

Beyond financial considerations, there are risk factors associated with business structures; certain liabilities tied to sole proprietorships might necessitate earlier transitions into BVs regardless of profit levels—especially common in industries like construction where risks are heightened.

Understanding BV Structures and DGA Salaries

The Concept of BV and Liability

Individuals with a BV (Besloten Vennootschap) can protect themselves from personal liability in case of significant claims, as they can let the BV "collapse" without personal repercussions.

Many entrepreneurs operate through a BV, but there is often confusion surrounding its structure and benefits.

DGA Salary Considerations

Clients often find the financial intricacies of running a BV complex, akin to advanced mathematics that isn't typically taught at home.

Keeping the DGA (Directeur-Grootaandeelhouder) salary low is strategic; earning above €56,000 places one in a 38% tax bracket, while higher earnings push taxes up to 49.5%.

Tax Implications of Earnings

Each additional €1,000 earned increases the tax percentage; thus, it’s advisable to keep earnings below approximately €77,000 to avoid the highest tax bracket.

A more favorable method for withdrawing money from a BV is through dividend payments taxed at 24.5%, which can be more beneficial than increasing salary due to prior income tax already paid.

Salary Requirements for Professionals

Certain professions like doctors must adhere to industry-standard salaries; hence a doctor cannot limit their DGA salary to €75,000 if market rates are significantly higher.

If employees earn above €75,000, the DGA salary must also reflect this standard; otherwise, it could lead to legal issues regarding pay equity.

Customization of BV Structures

Each BV structure should be tailored specifically for individual circumstances; what works for one may not work for another.

There are various configurations available within BVs that can cater to different business needs and goals.

Advantages of Operating Through a BV

Unlike sole proprietorships where high earnings result in substantial taxes (e.g., €50,000 on €100,000), BVs allow owners only to pay taxes on their salaries while retaining more capital within the company.

In the Netherlands, individuals can withdraw up to €500,000 from their directorship without immediate dividend taxation by managing how funds are distributed between personal and corporate accounts.

Understanding Fund Transfers Between Entities

It’s crucial for business owners with BVs to understand how funds flow between their holding companies and operational entities.

Understanding the Structure of a BV and Holding

The Basics of Invoicing and Management Fees

The process of invoicing is straightforward; it involves sending invoices back and forth, which can feel strange initially when transitioning to a BV (Besloten Vennootschap).

It's crucial that the invoices are plausible; creating fake invoices to siphon money is illegal. The management fee represents compensation for your directorial role.

Transitioning from Sole Proprietorship to BV

Many entrepreneurs start with a sole proprietorship where all income flows directly into personal accounts since it's essentially private.

As businesses grow, they transition to a BV structure, which includes establishing a holding company above the operating company in an organizational chart.

Importance of Holding Structures

A holding company protects personal assets from risks associated with the operating company; if the operating company fails, creditors cannot access personal assets.

While theoretically one could convert directly to a BV without a holding, this exposes personal assets to business risks inherent in sole proprietorship.

Financial Operations within the Holding Structure

Profits made in the operating company can be transferred to the holding, allowing for potential loans up to €500,000 for personal use under specific conditions.

Loans must have clear purposes; misuse can lead to financial complications. Tax obligations remain even when borrowing from one's own holding.

Salary Distribution as Owner of Holding

As an owner of a holding BV, you effectively become an employee and receive salary through management fees billed from your operating company.

For example, if there’s €100,000 profit in your operating company and you invoice €96,000 as management fees annually, this leaves €4,000 as retained earnings after expenses.

Tax Implications and Profit Retention

After paying taxes on profits retained in the holding (approximately 19% corporate tax), around €30,000 remains available for further investments or distributions.

Understanding Dividend Taxation and Business Financing

The Impact of Dividend Taxation

Discusses the implications of keeping profits within a business (BV) versus distributing them as dividends, highlighting that dividend tax is 24.5%.

Illustrates a scenario with €100,000 profit, detailing how management fees and taxes reduce the amount available for personal use.

After all deductions, only €27,000 remains to be transferred to private accounts; emphasizes the importance of considering net salary in overall income.

Strategies for Managing Taxes

Mentions that the Dutch tax climate can be challenging when all factors are considered; suggests alternative strategies like deferring dividend tax.

Explains that delaying dividend taxation allows funds to remain within the company for investments or growth opportunities.

Investment Opportunities

Highlights potential investment avenues using retained earnings instead of paying out dividends; mentions lower interest rates compared to potential returns on investments.

Discusses market-conform conditions for loans from businesses to private entities and stresses the necessity of having sufficient capital.

Reasons for Lending Money Privately

Questions what constitutes a valid reason for lending money privately rather than investing directly in assets like real estate or stocks.

Identifies tax deferral as a primary motivation for this strategy while emphasizing the need to achieve returns exceeding 4% on investments.

Understanding Loan Limits and Regulations

Clarifies that there are limits on how much can be lent without incurring immediate taxes; discusses thresholds above which additional taxes apply.

Describes an "underwater loan" concept where borrowed amounts below €500,000 do not trigger immediate scrutiny from tax authorities.

Starting Small with Investments

Advises listeners that they don't need large sums initially; even small amounts can grow over time through consistent contributions.

Emphasizes that starting with smaller amounts is acceptable and beneficial, especially under current regulations allowing no interest on initial loans up to €17,500.

Understanding Lending from Your Holding

The Concept of Lending and Investment

Thijs Verlangen discusses the common misconception that individuals can easily access funds up to €500,000 for personal use, highlighting that many do not have this amount readily available.

It is emphasized that while entrepreneurs often borrow from their holding companies, it is a mistake to rely on these loans for living expenses.

Additional Options for Wealthy Entrepreneurs

The discussion shifts to additional lending possibilities when owning a home or having children, which can provide further financial advantages.

If an entrepreneur has a million euros in their holding and purchases a home worth the same amount, they can lend themselves money from the holding without limits.

Tax Implications of Loans

Interest on loans taken out for personal housing can be tax-deductible under certain conditions; however, changes post-2013 mean that interest on non-repayable loans is no longer deductible.

Borrowing against one's holding results in a debt recorded in box 3 of personal taxes, impacting overall tax liability.

Managing Debt and Future Obligations

It's crucial to remember that any borrowed amounts must eventually be repaid; failure to manage this could lead to issues with dividend taxes owed.

Entrepreneurs need to be aware of their obligations regarding repayment timelines and potential tax implications associated with borrowed funds.

Involving Family Members in Financial Strategies

The conversation touches upon how family members (children or partners) are included within the €500,000 borrowing limit but emphasizes that it does not double if both partners have separate businesses.

Clarification is provided about external private loans not affecting the €500,000 limit as long as they are not made between family members or oneself.

Exploring Additional Lending Opportunities

There are always ways to defer dividend taxes while still generating returns; however, active management and effort are required.

The podcast aims to delve deeper into how entrepreneurs can assist their children financially through legitimate lending practices beyond standard limits.

Investment Strategies and Tax Implications in the Netherlands

Exploring Investment Options

The discussion begins with options for managing assets, including lending to private entities or investing directly.

Investing directly from a BV (Besloten Vennootschap) can lead to immediate taxation on profits at a rate of 19%, regardless of whether the funds are withdrawn.

Transferring assets to personal accounts allows for tax-free gains on investments like stocks or real estate, presenting a significant advantage.

Current Tax Landscape and Future Considerations

The speaker emphasizes the uncertainty surrounding future government policies, particularly regarding potential changes that could affect investment strategies.

There is an argument for investing in box 3 due to its current favorable conditions compared to box 2, despite possible future regulations.

A proposed new system for calculating returns has been introduced but faces uncertainty due to political instability; it may not be implemented soon.

Understanding Box 3 Investments

The conversation highlights the importance of adhering to existing regulations rather than speculating about future changes that may never materialize.

Despite negative perceptions surrounding box 3 investments in the Netherlands, there are still advantages worth discussing.

Advantages of Box 3 Investments

In box 3, individuals benefit from a tax-free allowance up to €57,000; this doubles if they have a fiscal partner, allowing for strategic financial planning.

An example illustrates how owning rental property valued at €100,000 can yield untaxed income if managed within the tax-free threshold.

Real Estate Market Dynamics

The speaker discusses challenges in finding affordable properties given rising market values; average home prices significantly exceed previous years' values.

A hypothetical scenario involving purchasing a house worth €500,000 demonstrates how debt impacts net asset value while still benefiting from box 3's tax structure.

Understanding Property Value and Debt in the Netherlands

The Relationship Between Property Value and Debt

A property can have a value of 400,000 euros while the debt may be 500,000 euros, resulting in a negative asset position of 100,000 euros in Box 3.

Annual increases in property values necessitate careful monitoring to avoid exceeding Box 3 asset limits; debts do not automatically decrease over time.

Market Dynamics and Rental Properties

Average property values may differ from rental values; often rental properties are valued lower but can sometimes exceed average market prices.

Investment properties typically allow for a maximum loan-to-value ratio of 80%, which complicates achieving zero net worth in Box 3.

Understanding Debt as an Asset

In the Dutch system, higher levels of debt can paradoxically be beneficial for tax purposes, leading to confusion among individuals accustomed to traditional financial advice against accruing debt.

While debts must eventually be repaid, they can still facilitate maintaining a zero balance in taxable assets under certain conditions.

Unique Tax Environment in the Netherlands

The Dutch tax system is considered favorable compared to other countries; some individuals manage substantial real estate portfolios with minimal tax liabilities.

An extreme case was mentioned where an individual owned properties worth 20 million euros yet paid no taxes due to strategic debt management.

Risks and Responsibilities Associated with Debt

It’s crucial to recognize that incurred debts are real obligations that require repayment; failure to meet these obligations has serious consequences.

Investors often need personal guarantees when dealing with banks due to regulations surrounding Box 3 investments.

Professional Guidance on Financial Strategies

There is an expectation for accountants to provide insights into complex financial strategies related to property investment and taxation.

The speaker emphasizes their commitment to helping clients navigate these complexities by leveraging their expertise in both accounting and investment planning.

Investment Insights in Spanish Real Estate

Personal Experience with Spanish Real Estate

The speaker discusses purchasing real estate in Spain during the COVID-19 pandemic, highlighting it as a favorable time for investments due to attractive returns.

They mention occasionally visiting their property and are now considering leveraging equity from their home in the Netherlands for further investments.

Current Trends and Challenges

The speaker notes a surge of advisors on social media platforms like Instagram and LinkedIn, all offering advice on investing in Spanish real estate.

They explain that while there is truth to the notion of paying taxes where the property is located, many overlook the higher tax rates compared to the Netherlands.

Tax Implications of Foreign Investments

The speaker elaborates on how rental income from properties in Spain incurs a 19% tax, which can be surprising for investors who are unaware of this obligation.

They provide an example calculation involving property value, mortgage amounts, and associated costs such as transfer taxes that significantly impact net investment returns.

Financial Considerations and Strategies

Discussing potential rental income deductions, they clarify that expenses related to property management can be deducted before calculating taxable income.

The speaker warns about how foreign investments still count towards wealth assessments in the Netherlands, complicating financial planning.

Long-term Investment Viability

They highlight challenges with repayment terms for mortgages in Spain, emphasizing that foreign investors must adhere to stricter repayment schedules than those typically found in other countries.

The discussion touches upon valuation difficulties between Dutch and Spanish markets due to differing appraisal standards and market transparency.

Conclusion on Wealth Management

Finally, they stress the importance of regularly updating property values for tax purposes; neglecting this could lead to unexpected tax liabilities if asset values increase over time.

Investment Insights in Spain and Tax Implications

Overview of Investment and Taxation

Investing in Spain can lead to tax obligations in the Netherlands, specifically a €1000 tax. This aspect is often overlooked by many investors.

Other emerging markets like Curaçao and Albania are also gaining attention for investment opportunities, highlighting the need for awareness of various international regulations.

It's crucial to comply with local laws regarding property ownership; different countries have varying rules, such as Italy's differing regulations compared to Spain.

Investment Strategies and Client Guidance

Advising clients on investments typically leads them towards Box 3 taxation strategies, especially when utilizing funds accumulated from entrepreneurship.

Many clients excel at earning money but struggle with effective investment strategies; guidance is essential for optimizing their financial decisions.

Early engagement with financial advisors is beneficial to avoid poor investment choices that could lead to unfavorable outcomes later.

Timing and Financial Planning

The period after summer vacations, particularly September, is critical for wealthy individuals to reassess their investments before year-end tax assessments.

Understanding the 12-week window leading up to January 1st (the Dutch tax assessment date) allows proactive financial planning to minimize taxable assets.

Tax Assessment Nuances

The Dutch tax system has specific deadlines (pijldatum), which require careful planning around asset declarations to avoid unexpected taxes.

Engaging in strategic financial maneuvers three months prior can attract scrutiny from tax authorities if not executed properly.

Common Financial Maneuvers

Techniques like transferring funds from personal accounts to business entities (HGO deposits) are common but must be justified convincingly during audits.

While moving large sums may seem advantageous for reducing personal taxable income, it requires legitimate business reasons or risk facing penalties from tax authorities.

Common Tax Mistakes and Financial Insights

Understanding the Impact of Taxation on Income

Discusses the financial implications of having €200,000 with a 4% return, resulting in an additional €8,000 taxable income. This leads to a tax payment of €4,000 due to self-lending.

Highlights common mistakes in financial management, particularly regarding foreign real estate investments and mismanagement of asset relocation for perceived savings.

Frequent Errors in Accounting Practices

Identifies late tax payments as a prevalent issue among entrepreneurs who excel at generating revenue but struggle with timely tax obligations.

Notes that previously, taxes could be deferred as credit; however, current interest rates (10% for certain taxes) make this practice costly.

Transitioning from Sole Proprietorship to BV

Emphasizes the importance of transitioning from a sole proprietorship to a BV (limited company), which many entrepreneurs overlook despite significant profits.

Shares an example of a client who unnecessarily paid high taxes due to remaining in a sole proprietorship instead of transitioning to a BV.

The Role of Advisors and Bookkeepers

Critiques bookkeepers who lack expertise in corporate structures like BVs and continue serving clients without proper guidance.

Suggests that some advisors prioritize retaining clients over providing necessary advice for their financial well-being.

Lifestyle Choices Affecting Financial Health

Discusses how lifestyle inflation can lead entrepreneurs to require higher salaries than what is sustainable within their business structure.

Advises on engaging clients about their spending habits and finding ways to reduce personal expenses while maintaining business profitability.

Strategies for Managing High Personal Expenses

Observes that many entrepreneurs experience rapid income growth but fail to adjust their spending accordingly, leading to unsustainable lifestyles.

Recommends raising DGA (director-majority shareholder's salary), while also considering dividend strategies for managing cash flow effectively.

Tax Strategies for Entrepreneurs

Long-term Tax Considerations

The discussion emphasizes the unsustainability of certain tax strategies over the long term, indicating a need to adjust and increase taxes when necessary.

It is suggested that wealthy individuals should conduct a quick scan to identify potential tax savings opportunities, especially in light of recent changes in tax laws.

Importance of Professional Advice

Many entrepreneurs may not realize that small adjustments can lead to significant tax savings, particularly regarding Box 3 taxation.

Engaging with a knowledgeable fiscal advisor is crucial; many accounting firms lack the expertise needed for complex cases.

Case Study: Real Estate Tax Savings

An example illustrates how one individual saved over €9,000 annually by restructuring their mortgage from an annuity to interest-only and moving their property into Box 3.

This case highlights the common misconception that paying off a mortgage is always beneficial; strategic debt management can yield better tax outcomes.

Understanding Box 1 vs. Box 3

In the Netherlands, homeowners are encouraged to pay off mortgages within 20 or 30 years; however, this can lead to missed opportunities in Box 3 where debts are treated differently.

While interest on loans in Box 1 is deductible from income taxes, moving properties into Box 3 creates a clear liability without deductibility but allows for untaxed rental income.

Risks of Incorrect Tax Filing

Errors made by advisors regarding which box (Box 1 or Box 3) properties fall under can result in costly mistakes that are often uncorrected by tax authorities.

The conversation stresses the importance of simulating tax returns with financial advisors to understand potential impacts and avoid leaving money on the table.

Exploring Debt-Free Home Financing Options

Understanding Debt-Free Conversion

The option to convert a mortgage to a debt-free status is available, allowing up to 50% of the property's value.

This conversion can be beneficial for tax purposes, as it allows homeowners to declare this debt in box 3, potentially reducing their taxable income and reaching a zero tax liability.

Background of the Speaker

The speaker discusses their passion and expertise in accountancy, emphasizing their journey into the field and current operations in Spain.

They have worked at several large firms in Brabant before deciding to establish their own firm with a partner.

Establishing Their Firm

The speaker highlights challenges faced by accountants regarding perceived high costs and lack of personal contact with clients.

They launched their firm in October last year after acquiring another office, growing from two founders to about fifteen employees within eight months due to a focus on personal service and transparency.

Business Philosophy and Growth Strategy

Their approach includes sharing knowledge openly on social media, which contrasts with traditional advisors who may not share insights readily.

The firm aims to provide comprehensive services under one roof, addressing various client needs without requiring them to consult multiple offices.

Future Ambitions

The firm's ambition is to grow beyond fifteen employees for sustainability and continuity while meeting client demands for integrated services.

Entrepreneurs prefer streamlined communication with one office handling all aspects of their business affairs rather than juggling multiple contacts.

Conclusion of Discussion

The conversation wraps up positively, encouraging viewers to engage further if they found the content valuable.