Tax season is here. And as a self-employed person or freelancer in Belgium, you might ask yourself: do I have enough set aside to pay my taxes? Or what if the bill is higher than expected?
I get it. Your income can fluctuate, and taxes aren't always top of mind when you're focused on running your business. But the good news is that a little preparation goes a long way. Today I'd like to share 3 tips (and free tools) that can help you prepare for taxes.
Every time a client pays you, that money isn't all yours. Part of it goes to VAT, part to social contributions, and part to income tax. And then there are expenses: electricity, materials, software, and anything else you spend to run your business.
How much you need to set aside for taxes depends heavily on your personal revenue and expenses. A freelance consultant with almost no overhead has a very different situation from a self-employed tradesperson buying materials every week.
The most reliable way to know how much to set aside is to keep your revenue and expenses up to date in Accountable. Based on your actual income and expenses, Accountable gives you a real-time estimate of what's yours and what's already earmarked for taxes.
Your bank balance can be misleading. Just because money is sitting in your account doesn't mean it's yours to spend freely, some of it is already spoken for by upcoming tax obligations.
That's why Accountable shows you your cash available, not just your balance. This figure takes into account everything that affects your real financial position:
The result is a single, honest number: the cash that's genuinely available for you to spend today.
Checking your cash available before you spend is a simple habit, but one of the most effective ways to stay in control of your finances as a self-employed person.
How does Accountable know your future taxes? Based on your current revenue and expenses in the app, Accountable projects what you’ll owe in income tax, VAT and social contributions by the end of the year.
How to see your cash available:
Knowing how much to set aside is one thing. Actually keeping it separate is another.
Mixing your tax money with your day-to-day income is one of the most common mistakes self-employed people make. When the money is all in one place, it's easy to spend it without realising you'll need it later.
With Accountable Banking, you can move money to a tax reserve account, or create a space for other upcoming costs. This way your VAT, income tax and/or social contributions are untouchable for day-to-day spending and already there when the tax bill comes.
The psychological effect is real: when you can see exactly what's reserved for taxes, you stop second-guessing yourself every time you want to make a purchase. The tax money is there, and the rest is yours.
Checking your cash available and using a tax reserve account are great habits. But habits require effort, and effort has a way of slipping when you're busy running a business.
The most effective way to save for taxes is to make it something you never have to think about. With automatic tax savings, Accountable sets aside the right amount at any time.
Here's how to set it up:
No calculations, no manual transfers, no end-of-year surprises. Just the quiet confidence of knowing that every time money comes in, your taxes are already taken care of.
Tax season doesn't have to be stressful. Download Accountable, create a free account, and have everything in place before the next bill arrives.
It depends on your revenue and expenses, but as a general rule, setting aside 35 to 40% of your net income covers most self-employed people for income tax and social contributions. If you're also collecting VAT, that money should be kept separate from day one. For a precise estimate, track your income and expenses in Accountable and you'll always know exactly how much to set aside.
Yes. When setting up automatic tax savings, you choose which categories to save for. You can select VAT, income tax, social contributions, or all three.
Not at all. You can move money back to your main account at any time. You can also adjust your savings percentage whenever you want, whether your income changes, you take on new clients, or you simply want more or less of a buffer. You stay in full control at all times.
Yes. You can adjust your percentage whenever your situation changes, whether your income increases, you take on new clients, or you simply want more or less of a buffer.
Yes. Accountable Banking is a fully licensed bank account designed specifically for self-employed people. It comes with an IBAN, a Mastercard debit card, and features like tax pockets and automatic tax savings built in. Opening an Accountable Banking account is also 100% free.
Both are separate pockets within your Accountable Banking account, ringfenced from your day-to-day spending. A tax reserve account is specifically designed for taxes: income tax, VAT and social contributions. A space is more flexible: you can use it to save up for anything you want, whether that's an investment, a holiday, new equipment, or a property. Same concept, different purpose.
Accountable recalculates your tax projection continuously based on your actual income and expenses. If your earnings change, your cash available and tax estimates update automatically.
Author - Alexis Eggermont
Alexis is co-founder at Accountable. He is passionate about leveraging data, AI, technology, and entrepreneurship.
Who is Alexis ?Thank you for your feedback!
Useful
As a self-employed individual with a sole proprietorship, your income is taxed under the personal in...
Read moreStarting from 2026, all self-employed individuals will need to send their invoices electronically in...
Read moreThe VAT reverse charge is a complicated word for a simple concept. It helps you purchase and sell sm...
Read moreIn the world where everyone seems to be out to get small entrepreneurs and overwhelm them with new rules, more taxes and reporting obligations, Accountable often feels like the one steady partner that actually wants you to succeed, providing quick, clear and personalised support. Thank you!
Janina Arsenjeva
Fast and careful answers from Alina. Top service. Thank you
Anonymous
The coaching session on tax management was excellent, good material, excellent explanations and very insightful…my accountant and tax advisor are good, but never so comprehensive and accurate. Combined with the AI I never feel alone with Accountable
Sergio Barbarino
The availability of your team to help and guide people to understand their finances better is what really makes Accountable valuable. While the AI is able to give answer to most of the basic questions, specific scenarios need counsel from a human which your team performs beautifully.
Sofiya Bogdan Neves
