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Today I made the rounds to the VAT office, Income tax and Social Security and registered my first business. I do translation work from English to Hebrew, from Hebrew to English and proofreading in English. I've already got 2 customers and I hope that word spreads and I'll collect more.
At the moment I don't have to pay VAT or Income Tax as long as I stay under a certain amount, but if my business grows as I hope it will, I'll have to start paying those as well. My Social Security has almost tripled, however.
The risks with opening this type of business are relatively low, as long as I stay under the threshold, but I also don't have any kind of fixed income, it depends entirely on my customers.
At the moment I don't have to pay VAT or Income Tax as long as I stay under a certain amount, but if my business grows as I hope it will, I'll have to start paying those as well. My Social Security has almost tripled, however.
The risks with opening this type of business are relatively low, as long as I stay under the threshold, but I also don't have any kind of fixed income, it depends entirely on my customers.
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