Employee and Freelancer Tax Calculator
This calculator estimates how much a full-time employee earning side income must pay in taxes for the tax year 2024. Disclaimer: Use this calculator only if your primary employment was for the entire, taxable calendar year. Also note, all calculations use only the basic taxpayer’s discount. Calculations do not take into account additional tax credits, bonuses, or relief other than the options available. If unsure about how to use this calculator or its results, see our FAQs at the bottom of the page.
Side job tax calculator
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FAQs
I have full-time employment but want to take up a side job. How do I start?
If you have full-time employment and want to earn income on the side, you should apply for a Czech trade licence (“zivno”). However, because your employer pays your monthly social and health insurance payments, you will not make any additional payments in the first year. After the end of the first year, you must request an annual statement from your employer to see if you need to settle any remaining balance. The balance will depend on your income from employment and the tax base from your trade license.
What if my side business entails the same business activities as my main employment?
In this case, you should seek permission from your employer to begin your side job. Check the employment contract, and discuss the details with your employer before you apply for a trade license.
How are social and health insurance contributions calculated when I have employment and a side job?
If your net income from self-employed activities is higher than 96 777 CZK (the 40% remaining after applying the 60-40 method), then you start paying the balance next year. For example: the limit for social tax is CZK 96 777. If you are over this amount, you will pay the remaining balance, and you will begin paying a deposit of CZK 1 018 in the following year. If your net income is under CZK 96 777, you will have a zero balance, and have zero in deposits.
How is income tax declared when I am both employed and self-employed?
Income tax from your trade licence’s side business and the employee income tax are merged together and declared in one tax report. All tax discounts and bonuses are then applied to the full previous tax year.
What is the 60/40 method?
Using the 60/40 reporting method, you have an expense allowance of 60% of your gross income. Taxpayers simply deduct 60% from their gross income, and the remaining 40% is taxable. You will not need to provide any invoices proving your expenses. However, the 60/40 reporting method is only for earners whose gross annual income is under CZK 2 million.
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