Taxation and Accounting of Individual Entrepreneurs

For the Russian economy, which is experiencing difficult times, the issue of sole proprietorship taxation is so important and relevant for its development . The Russian tax legislation includes a number of SP tax regimes. In this thesis, we study their theoretical basis and practical aspects of their application: a case study of a particular entrepreneur calculated and compared the amount of taxes payable on different tax regimes, also the amounts of taxes in the two regions (rep Mari El and the Nizhny Novgorod region.) are paralleled and the issue of support beginners out there is studied. Author gives some tax optimization recommendations for the research object (of the entrepreneur). The study also proves the importance of conducting the accounting for sole proprietors and models the possible accounting entries for the studied SP typical business transactions, as well as proposes the possible simplified chart of accounts and accounting policies. Based on the study the author comes to the following conclusion: the Russian tax legislation is clear and full enough to understand the theme of taxation of individual entrepreneurs, existing tax regimes allow businessmen to choose the optimal tax treatment depending on the type of activity, size of business, geographic location and other characteristics, and accounting maintenance , which can be organized in a simplified form, seems to be useful in providing reliable information to SP regarding the economic situation of their business.