Episode 5: Taxes! Oh, Taxes!

In this episode of the Feel and Act Money podcast we, Maria Lasprilla and Danusia Cerqueira, along with our guest Kaili Virma, delve into the emotional and practical aspects of taxes, particularly in the context of Estonia. We discuss the fears and misconceptions surrounding taxes, the importance of education in overcoming these fears, and the specific tax obligations for residents and e-residents in Estonia. The conversation also covers common mistakes people make with taxes, the benefits of understanding tax changes, and the various business structures available in Estonia, including the advantages of e-residency. We emphasize the need for transparency and education in financial management, particularly for immigrants and digital nomads.If you need help with your business accounting, personal tax declaration or business tax declaration in Estonia, you can reach out to [email protected] or find her via LinkedIn. If you are more adventurous and appreciate an in-person meeting, you can also stop by the offices of Foreigners Help Coworking Space. And if you like this podcast, make sure to subscribe, comment and share with others so we know to keep doing this for you! Chapters00:00 Introduction to Feel and Act Money Podcast01:50 Meet the Guest: Kaili Virma04:39 Understanding Taxes: Emotional Perspectives09:49 Cash Transactions and Their Implications11:43 Defining Taxes: A Systematic Approach14:43 Common Tax Mistakes and Learning Experiences21:50 Deep Dive: Tax Changes in Estonia for 202629:20 Income Tax Exemptions and Benefits34:25 Navigating Tax Residency and International Moves36:32 Understanding Tax Residency Across Countries39:49 Benefits of Opening a Business in Estonia42:59 Types of Business Structures in Estonia47:37 The Ease of Tax Declaration in Estonia52:04 Investment Income and Taxation in Estonia56:10 E-Residency: Opportunities and Advantages This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit feelandactmoney.substack.com