The Great Business

A lot of freelance professional new to Spain are unsure of their ongoing accounting obligations and can often get waylaid by the unsound advice of many so-called advisers. Indeed, it is very common for many of them to think that they only need to file their own taxes and pay their social security neglecting the more formal requirement to keep a correct record of their activity as a freelance worker. The following is a brief summary of the accounting requirements for freelance consultants in Spain.

Besides the ongoing tax and social security obligations, a self-employed worker must also keep the following books up to date and ready in case of an inspection:

1) Income Ledger: this should include the invoices issued by you. These should be chronologically ordered and numbered and include the name and tax number of the client and the amount of the operation with a breakdown of the applicable tax base, VAT, withholding tax and the net amount of the invoice.

2) Expense Ledger: this should include the invoices received by you, chronologically ordered and positioned in accordance with the type of expense. For example, a telephone bill should be place in the section marked Supplies. You must also include a breakdown of the applicable tax base, VAT and the total amount.

3) Capital Goods Ledger: this should reflect the cost of the goods that are going to remain in your business for more than one fiscal year (e.g. furniture, machinery, computers etc.) as well as the annual depreciation installments in accordance with legal stipulations. For example, if you purchase a computer for 1000 euros plus VAT, the amount of this total that should be deducted as an expense in the fiscal year is 260 euros as the law provides for an annual depreciation of 26% of the tax base for this type of good.

Magazines are just one of the many print publications that are popular among the enthusiasts of the many forms of mass media these days. Magazines can be bought on magazine stalls and news stands or via client subscriptions. And, because of the large number of people who read magazines everyday, or at least, every time an issue is released, advertisers are now perennially banking on their popularity for their own ads.

About Magazine Advertising

Aiming an advertisement to be placed on a magazine’s pages? We need to know first just how magazine advertising works. There are basically six types of magazine ads. These are the cover ads, the full page ads, the spread ads, the vertical and horizontal ads, the checkerboard ads, and the square ads. When it comes to the space that the non-full page or spread ads take up, the advertiser usually has a choice between two thirds of the magazine page, or half of the page, or one third of the entire space. On the other hand, for full page and spread ads, there are two possible treatments that can be employed, which are bleed and non bleed.

Full Page Ads vs. Spread Advertisements

What is the difference between full page ads and spread ads? Actually, it is with the scope. Spread ads are bigger specifically because it takes up the space of two consecutive facing magazine pages all at once. Spread ads may also come in the form of a page that is equal the size of two magazine pages and then folded by half so the reader could just unfold it to read the ad. On the other hand, the full page ad, as the name itself suggests, takes up an entire magazine page.