Business Lessons in Denmark

What is A-kasse, and why could it be important for a business owner?

In this episode, Kati and Rezső discuss the role of the unemployment fund in Denmark and how self-employed individuals can benefit from it. 💼

🚀 Content:

00:00 - Introduction

01:30 - What is A-kasse?

04:06 - How can you join?

06:47 - How much does A-kasse membership cost?

07:13 - What are the requirements as a sole-proprietor?

09:34 - Closing thoughts

09:53 - Rezső says goodbye to the podcast

Key takeaways from the episode:

📌 A-kasse is available not only for employees but also for business owners, providing financial security in case of unemployment.

📌 The A-kasse membership fee is around 500-550 DKK, and it’s tax-deductible, reducing the actual cost.

📌 Business owners should consider A-kasse membership, as there’s no guarantee that a business will remain successful in the long run.

📷 Contact details for Rezső:

Facebook: https://www.facebook.com/people/OTTO-Fotografi/61556590869148/

Email: [email protected]

🦉 Cool Accounts ApS

Get the most out of your business!

Leave the bookkeeping and tax matters to a specialist!

https://accounts.cool/en/

What happens if a business owner gets sick? In this episode, Kati and Rezső explore the Danish sick pay regulations and explain how self-employed individuals can receive financial support if they are unable to work due to illness. 🏥

🚀 Content:

00:00 - Introduction

02:02 - Sick pay eligibility requirements

03:25 - Sick pay amount and further information

03:56 - Special insurance options

06:28 - Partial sick pay and part-time work

Key takeaways from the episode:

📌 Sick pay for sole proprietors starts from the second week if the conditions are met.

📌 There is an option for special insurance that can cover income loss starting from the first day.

📌 The support amount is calculated based on the income from the business, with a maximum of 4695 DKK per week in 2024.

💼 How can you strengthen your business relationships? Business lunches, gifts, and representation costs – we covered it all in our latest episode!

Rezső is considering inviting a key client from a real estate company to a business lunch to solidify their relationship. But what are the rules in Denmark? Kati explains how business meals and gifts can be deducted, what percentage is tax-deductible, and what documentation is required.

🎙️ Join us in the latest episode of the "Business Lessons in Denmark" podcast, where we break down everything you need to know about representation costs!

🚀 Chapters:

00:00 - Intro

00:33 - Greeting

01:20 - Rezső's dilemma: business lunch with an important client

02:49 - Deductibility rate

04:20 - Documentation

05:30 - Business gifting

07:45 - Summary

Key takeaways from the episode:

📌 Only 25% of business lunch expenses are tax-deductible.

📌 When it comes to gifts, if they are promotional and distributed widely (like branded pens), the costs are fully deductible. For more expensive gifts, only 25% can be deducted, and VAT cannot be reclaimed.

📌 Proper documentation is needed for representation costs: invoices, a list of attendees, and the purpose of the meeting or gift.

​​▶️ Useful links for the episode:

Fradrag for udgifter til repræsentation: https://info.skat.dk/data.aspx?oid=2083501

🦉 Cool Accounts ApS

Get the most out of your business!

Leave the bookkeeping and tax matters to a specialist!

https://accounts.cool/en/

🎉 The “Business Lessons in Denmark” podcast is celebrating a milestone with a special episode! We’ve reached our 50th episode, and to mark the occasion, we’ve prepared something unique for you.

You’ll get a behind-the-scenes look: discover how the podcast started, what inspired its creation, and what successes we’ve achieved along the way. Join us as we celebrate this milestone together!

🦉 Cool Accounts ApS

Get the most out of your business!

Leave the bookkeeping and tax matters to a specialist!

https://accounts.cool/en/

Can you deduct your daily meals as a business owner? And what about business lunches or employer-provided daily meals? 🍔

In the latest episode of the “Business Lessons in Denmark” podcast, Kati and Rezső explore the details of deduction of meal expenses, and share all the crucial information to help you avoid fines from the tax office. 🎙️

Main takeaways:

📌 Sole proprietors and one-person ApS’ cannot deduct their daily meals as expenses, as these are considered personal expenses.

📌 Larger companies can provide daily meals to their employees tax-free, provided the food is not considered luxury.

📌 For sole proprietors, meal expenses incurred during unexpected overtime cannot be deducted.

🦉 Cool Accounts ApS

Get the most out of your business!

Leave the bookkeeping and tax matters to a specialist!

https://accounts.cool/en/

The latest episode of the ‘Business Lessons in Denmark’ podcast is now live! This time, we’re excited to bring you an inspiring interview with Agnes, who, alongside her boyfriend Robert, has built a thriving business in Denmark over the past two years. 🇩🇰

Tune in to hear how they started, the challenges they’ve faced, and Agnes' tips for aspiring business owners. Plus, get a glimpse of what it’s like to mix business and personal life. Curious about the secrets behind their success? Don’t miss this episode!

​​▶️ Useful links for the episode:

​Danrengøring / More Shine I/S​​

https://moreshine.dk/

🦉 Cool Accounts ApS

Get the most out of your business!

Leave the bookkeeping and tax matters to a specialist!

https://accounts.cool/en/

🚀 On a business trip? Maximize your expense deductions!

Did you know that you can deduct your business trip expenses in two different ways? Accommodation, meals, travel – all these can be written off if you play it smart! 💡

Discover your options in our latest podcast episode, so you can decide which way you are better off! 💸

Key Takeaways from the Episode:

📌 Definition of a Business Trip: A business trip is defined as a work-related journey that doesn’t allow you to return home the same day due to distance or working hours - it must exceed 24 hours.

📌 Deductible Expenses: Accommodation and meal expenses incurred during business trips can be deducted, provided that the trip is business-related and contributes to revenue generation.

📌 Methods of Deduction: You can choose between two methods for deducting business trip expenses: actual expenses based on receipts, or a flat rate set by the tax authority.

​​▶️ Useful links for the episode:

https://skat.dk/borger/fradrag/arbejdsrelaterede-fradrag/rejsefradrag-godtgoerelse-kost-og-logi/rejsefradrag

🦉 Cool Accounts ApS

Get the most out of your business!

Leave the bookkeeping and tax matters to a specialist!

https://accounts.cool/en/

May we deduct our training-, course-, or seminar expenses in our company? 🤔

Rezsö registered for a half-day drone seminar. New technological trends, fresh knowledge – all beneficial for his company. But can he deduct its price as an expense? 💼

What conditions need to be met for courses and training to be deductible in our business? We cover all the details in our latest episode, so join us! 🎧

Key Takeaways from the Episode:

📌 Costs of Courses and Seminars: The costs of courses and seminars are deductible if they are directly related to your current work and income generation, and they are not too general.

📌 Language Courses and General Trainings: Courses such as language courses or self-improvement courses are considered too general and are not deductible.

📌 Acquiring New Competencies: Course costs are not deductible if they are aimed at acquiring new competencies; they are only deductible if they are about maintaining and updating existing knowledge.

​​▶️ Useful links for the episode:

https://youtu.be/K0hlw3vzwrQ

C.C.2.2.2.3 Udgifter til kurser, videreuddannelse mv. https://info.skat.dk/data.aspx?oid=2083495

🦉 Cool Accounts ApS

Get the most out of your business!

Leave the bookkeeping and tax matters to a specialist!

https://accounts.cool/en/

What opportunities do we have as business owners to support our health without breaking the bank? 🤔

Rezsö wants to go to a masseur or chiropractor because the physical demands of his job cause him daily strain, leading to back pain. 🚨

Can he write off these types of health services as expenses? What options do business owners have to support their own health and that of their employees? We will discuss this in our latest episode, join us! 🎧

Key Takeaways from the Episode:

📌 Work-Related Health Services: Under certain conditions, businesses can support their employees’ health by providing services such as massage, acupuncture, chiropractic care, and other similar treatments.

📌 Situation of Sole Proprietors: Unfortunately, sole proprietors cannot deduct the costs of health services as business expenses; these are considered private expenses.

📌 Health Insurance: A beneficial solution for entrepreneurs can be to obtain health insurance, which can partially or fully cover the costs of various health services.

📌 Retirement Savings: Combining retirement savings with health insurance offers entrepreneurs the opportunity to access various health services at favorable terms.

📌 Company form matters: Better possibilities with an ApS.

🦉 Cool Accounts ApS

Get the most out of your business!

Leave the bookkeeping and tax matters to a specialist!

https://accounts.cool/en/

Do you run your business from home and want to deduct the costs of your office, workshop, or studio? 🏠