• What are deductible expenses?

  Deductible expenses are those that can be assigned to the company, that is, paid by the company and deducted as a business expense. Thanks to the innovative Estonian tax system, these expenses are exempt from taxes. They are considered money that you are reinvesting in the company. Basically, it is any expense related to your activity that does not imply that you have a permanent establishment in another country, to avoid considering your company a tax resident there. Let's see some exaSome readers

• Out Of Pocket Expenses. Definition & How to Declare Them

  What Are Out Of Pocket Expenses? The Estonian business system is very flexible and offers many advantages for entrepreneurs. For example, imagine Ana forgetting her business card on her trip to San Francisco and needing to pay a business expense. What can she do? No problem. Ana can pay that expense with her personal credit card or cash, but ask for an invoice for her company and then tell us that she paid that with her personal money. We will declare that expense as “out-of-pocket expensesSome readers

• What expenses are NOT deductible?

  Here are some examples of expenses that are not considered deductible: Fuel, and car trips within the same country. Travel between countries to visit clients is deductible, but to prevent you from using your car for personal use, fuel expenses within your country are excluded. However, public transportation is always deductible. Food, meals, drinks, lunch expenses. Vacations and pleasure trips, obviously. And also be careful if you decide to “visit a client” from December 24Some readers

• How To Open A Business Account With Uber To Get Proper Invoices?

  Unlike other ridesharing providers such as Bolt, Uber does not provide you with proper invoices by default. If you order a ride with Uber, you will get a receipt like this one: Uber receipt As you see, this is not a valid invoice for your business. It is missing important pieces of information such as: Seller info Buyer info Invoice number Tax information (VAT) ToFew readers

• Is AirBnB a deductible expense?

  Yes, it is, as long as your accommodation is useful for the company's objectives or is necessary for your activity. This includes travel to attend conferences or meet with your startup team to work on a project. You have to keep three things in mind: The maximum time to be able to declare an accommodation in AirBnB (or any other place) outside of Estonia as a deductible expense is 6 months per year. This is because if you have been in that accommodation for more than 6 months, so it wouldFew readers

• What Should I Do If I Made a Personal Expense Using My Corporate Card?

  If you find yourself in a situation where you have used your corporate card for a personal expense, there are two actions you can take: Make a Refund to the Corporate Account (Recommended) The best approach is to refund the exact amount of the expense to the corporate bank account from your personal bank account. When making this transfer, it's crucial to label it clearly with the note "Refund for personal expense on DD.MM.YYYY." Afterward, kindly allow 24-48 hours for Companio to dFew readers

• How to Handle Business Expenses When Your New Business Has No Revenue

  Starting a new business often means you won’t have immediate revenue or a reliable source of income until you begin to attract clients and gain traction. In such situations, you might wonder how to cover your business expenses. There are several ways to do this, and some are more advisable than others. Methods We Don't Recommend (or Support) One method we don’t recommend involves transferring money to the company as a "business loan" and then paying it back later. This approach is not sFew readers