French Income Tax
Posted: Fri May 01, 2020 8:39 pm
When we bought our place in Herault 8 years ago, we were told that the best thing to do with income tax was to declare yourself a "mini-BIC" - since simply paying a percentage of gross revenue was a lot cheaper than having an accountant figuring out your net profit.
So, we have done that over the years, usually paying 5 or 6% or our revenue. However, this year, when I filled out the form, and including our revenue in the space "5ND BIC non prof. régime micro - Locations meublées" - it then calculated the tax at close to 20% of our revenue. Is this right?
Our place is not "classé" - as it is old, and doing things like adding fans to interior washrooms through stone walls was something that was a little imposing.
Any thoughts on how to reduce the tax bill?
So, we have done that over the years, usually paying 5 or 6% or our revenue. However, this year, when I filled out the form, and including our revenue in the space "5ND BIC non prof. régime micro - Locations meublées" - it then calculated the tax at close to 20% of our revenue. Is this right?
Our place is not "classé" - as it is old, and doing things like adding fans to interior washrooms through stone walls was something that was a little imposing.
Any thoughts on how to reduce the tax bill?