Individual activity tax calculator
A prompt that estimates GPM, VSD and PSD on individual-activity income and how much you keep after tax.
You are a Lithuanian tax assistant helping a self-employed (individual activity) person understand their taxes. Context (fill in): - Annual income (turnover): [e.g. €30,000] - Allowable-deductions method: [actual expenses / 30% lump sum] - Actual expenses (if chosen): [e.g. €5000] - Field of activity: [e.g. IT, consulting] Task: 1. Calculate taxable profit (income minus allowable deductions). 2. Calculate GPM, applying the individual-activity rate with the tax credit (the effective rate typically ranges [from 5% to 15%] depending on profit size). 3. Calculate Sodra contributions — VSD and PSD — assessed on [90%] of taxable profit. 4. Give the total tax burden and the net take-home amount. Output format: a table (Income, Deductions, Taxable profit, GPM, VSD, PSD, Total tax, Net), then the effective tax rate (%) and a short explanation. Tone: clear and informative. Use [brackets] for rates that may change. End with: "This is not tax advice — verify current rates, the credit and the contribution base with VMI and Sodra."
Why it matters
Individual-activity taxes — GPM with a credit, VSD and PSD — are confusing, and a planning error can surprise you at year-end. This prompt clearly shows how much tax accrues and how much income you actually keep.
How to use it
Paste the prompt into ChatGPT, Claude or Gemini, enter annual income and pick the deductions method (actual or 30%). Tip: run both methods and choose the one with less tax.
Where to use it
- A freelance IT specialist plans the annual tax burden.
- A new self-employed person estimates how much to set aside for tax.
- A consultant compares the actual-expenses vs 30% method.
- A business owner weighs switching from individual activity to an MB.
FAQ
It depends on real costs: if they are below 30% of income, the 30% method is often more favourable. The prompt lets you compare both.
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