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Common mistakes in your first year as a freelancer
Written by Ilias3 min read
Your first year as a freelancer is an instructive year, but also a year in which mistakes are easily made. Some of them can cost you money. By knowing them in advance, you prevent a lot of hassle. This article lists the most common mistakes.
Not reserving money for tax
The most common mistake is seeing your entire turnover as income and setting nothing aside for tax. At the end of the year an assessment follows that you can't pay. So from the first euro, set aside part of your income for income tax and VAT.
Messy bookkeeping
Many starters let their bookkeeping slide and have to sort everything out at the end of the year. That costs time and leads to errors and missed deductions. Keep your records tidy from day one, preferably with bookkeeping software.
Losing receipts and invoices
Without proof of your costs you can't deduct them or reclaim the VAT. Yet many starters lose receipts. Make it a habit to store every receipt digitally right away. You're also obliged to keep your records for seven years.
Missing deductions
Starters often leave money on the table by missing deductions, such as the starter's deduction, the investment deduction or start-up costs. Look into what you're entitled to, or get advice. A good bookkeeper often pays for themselves by still using missed benefits.
This article provides general information based on the rules known for 2026 and does not replace personal tax advice. For your specific situation, we're happy to take a look with you.
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