our accountant works independently but in a close cooperation with our management company, dealing with dozens of clients taxation cases and ready to deal with your taxation case.
In general, if you have any property, income or business share in Hungary, it is obligatory to have a HU tax id number. If you are the sole owner, you must have the necessary HU tax documents. If there are co-owners (family member, business partner, etc.) all other owner must have minimum HU tax id n. that is the law. If you rent out the apartment, one of you must have a so called business tax number (it is different than the tax id) that gives only the right to issue invoices, etc.
Our accountant will do all taxation-connected activities for the client: he represent him/her at the Tax Office, I issue (on behalf of the client) the invoice, he collect all necessary papers from the management company and make the tax return, etc.
Something about the taxation itself.
Our accountant always use the cost deduction method, so I take into consideration all money from rent and deduct all possible (and legal) expenses. Cost may be: management, cleaning, repairing, commission (of finding a tenant), or even travelling (if you come to check your apartment 1-2 times a year), accounting fee, hotel (but no drink and no food).
Our accountant also use the depreciation – 2% of the value of the buying price of the apartment (that is why he needs the purchase contract).
The personal income tax system is annual and based on the calendar year, no loss or profit could be passed to another year.
All deductible costs must be based on proper invoice (not just a receipt).
