Erroneous Lease : What Are the Consequences of Errors?
Erroneous Lease : What Are the Consequences of Errors? Erroneous Lease : What Are the Consequences of Errors? Erroneous Lease : What Are the Consequences of Errors? Erroneous
Are you a non-professional furnished rental (LMNP) owner and unsure about hiring an accountant?
This article is for you!
Each year, whether you choose the Micro-BIC regime or the Real regime, you must declare your income by completing form 2042 C PRO online.
If you opt for the Real regime, you also need to maintain up-to-date accounting records. When filing your tax return, you must complete forms 2031 and 2033 with its annexes (2033-A to 2033-E), and electronically transmit the tax return package to the administration. These forms include, among other things, a profit and loss statement, a balance sheet, and simplified financial statements. While not impossible, this process is quite complicated for those unfamiliar with it!
Additionally, to start your LMNP (Non-Professional Furnished Rental) activity, you must declare it within 15 days of the start of the rental activity to your CFE (Business Formalities Center) at the Commercial Court Registry. To do this, you need to fill out and submit a P0i form for your first property registration and a P2P4i form for subsequent investments.
These procedures are relatively complex, time-consuming, and carry a risk of errors with potentially severe consequences!
While hiring an accountant is not strictly necessary, delegating all these tasks to a professional will save you significant time and greatly reduce your risks.
An accountant will first advise you on the most suitable tax regime for your situation (Micro-BIC or Real), helping you achieve substantial tax savings!
They will also handle the declaration of your LMNP activity (Qlower can do this for you for €50 including tax via this form to complete).
Most importantly, an accountant will provide advice throughout the lifecycle of your investment.
But that’s not all! By hiring an accountant or using accounting software, you also save time: you simply send your expenses and income, and the accountant will handle your tax return and electronic submission!
Delegating ensures your accounting and tax return are error-free. It’s worth noting that the tax administration scrutinizes tax returns submitted by individuals more closely than those filed by an accountant or a specialized tool.
No, hiring an accountant is not mandatory, whether under the Micro-BIC or Real regime. However, it is strongly recommended, especially for the Real regime, which requires very rigorous formalities.
Since 2015, it is no longer possible to file paper tax returns and send them to the tax center.
Returns must now be submitted online to the SIE (Business Tax Service) via the government tax website or through an e-declaration software.
Joining an Approved Management Center (CGA) costs approximately an additional €140. Membership provides several benefits:
Qlower is partnered with a CGA, allowing you to benefit from a two-thirds reduction on your accounting fees!
Additionally, there are online accountants or accounting software that assist with accounting, tax declaration, and e-filing at more affordable rates.
With Qlower, you pay €11.99 per month for one property (€17.99 for two properties and €6.00 for each additional property), which comes to €143.88 per year for one property.
This app (available on both smartphone and web) provides automated accounting, preparation, and electronic filing of your tax return.
Beyond that, Qlower offers property management and wealth advisory tools to help optimize your investment.
Erroneous Lease : What Are the Consequences of Errors? Erroneous Lease : What Are the Consequences of Errors? Erroneous Lease : What Are the Consequences of Errors? Erroneous
When Is It Relevant to Switch from the Micro-BIC Regime to the Simplified Real Regime? In France, landlords renting furnished properties fall under the category
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