Ukončení podnikání fyzické osoby - účetní a daňové dopady

The aim of this diploma thesis is to describe the process of termination of business of a natural person. The main emphasis is put on three of the possible common reasons: a termination of business due to the death of the entrepreneur, a voluntary decision to quit and, lastly, the termination of business because of an initial investment into a limited liability company. The theoretical part of this thesis is concerned with the legislation related to the conduct of business of a natural person, obligations to the state authorities and description of different stages of business. Furthermore, a list of possible reasons of termination of business and its tax and accounting settlement is included. In the practical part, there are three examples of termination of business, which show different approaches according to the corresponding method of keeping business records – accounting, keeping tax records with using actual expenditures and using flat-rate expenditures. The findings are then summarized in the conclusion of this thesis.