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Old 09.09.2014, 13:47
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Starting a business while being employed

Dear All,

I am considering founding an online business with a very simple business model (most likely as sole proprietorship) in parallel to my normal corporate job. In that sense, this would be a second income.

Do you know what would be the tax (and other) implications of creating such a startup? Do I still need to declare taxes if revenues stay below CHF 120'000?

Thanks a lot!!
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Old 09.09.2014, 15:54
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Re: Starting a business while being employed

Hi there

Your income would be added to your current income and taxed together - you would need to register as partly self-employed and inform your current employer of your intention to have your own business and get their approval - obviously depending on your contracts terms.

Good luck!!
Tanya
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Old 09.09.2014, 17:18
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Re: Starting a business while being employed

Thanks a lot Tanya!! Would it work the same way for a GmbH?
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Old 09.09.2014, 17:28
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Re: Starting a business while being employed

It is not that simple,

First many companies state that you cannot hold another job while working for them so check your contract first.

Then when you have a company there are many things you can deduce from your tax. So if you use your home as office you can specify it as business expenses and deduct from your total income. So if you your company makes 0 money you may actually pay less tax then you pay now. But all the rules are only well know by GOOD tax people
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Old 09.09.2014, 17:29
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Re: Starting a business while being employed

a GmbH is taxed on its own and you would earn salary from it but that salary would get taxed

good luck! Try www.gruenden.ch for lots of useful info
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Old 09.09.2014, 17:31
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Re: Starting a business while being employed

If you have a GmbH, you will be an employee of the company. Any money the company has belongs to the company. The company is taxed separately from you - it is legally a "person" in its own right.

You will still (most likely) need permission from your current employer, and any money you receive from your GmbH (i.e. wages) will be taxed as described above. The GmbH will be liable for your AHV employer and employee contributions, and will need some insurances.

The advantage of a GmbH is that if it goes pear shaped, your personal assets are rather more protected.
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Old 10.09.2014, 09:36
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Re: Starting a business while being employed

There is a lot of paperwork with the GmbH. Be sure you expect to earn enough to cover the insurance costs if you go down the GmbH route.
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Old 10.09.2014, 10:41
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Re: Starting a business while being employed

I agree with a GmbH you have to pay various insurance costs which are all quite costly.. forming a GmbH is quite costly as well as you need a 20 000CHF deposit- I would perhaps start as a sole prop and then depending on growth of business you could convert to a GmbH - thats what I did as my business grew. Good luck!
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Old 10.09.2014, 13:37
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Re: Starting a business while being employed

Thanks everyone for your feedback. I am also more inclined to go ahead with a sole proprietorship one, but putting at risk my own personal assets worries me. This should not be an issue unless I do something that I should not be doing, but still... with a GmbH I can "just" close it down if things go wrong...
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Old 10.09.2014, 16:19
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Re: Starting a business while being employed

Very curious on the employer issue.

If there is nothing on the contract about having his/hers own job, do someone still need to inform the employer? why?b
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