Before the year 2021 comes to an end, you should definitely check whether one or the other expenditure still makes tax sense.
Final spurt for the year 2021. But you should already
think about
the
income tax return for
the coming year.
“Because a lot can be done at the turn of the year,” reports the Bavarian income tax aid.
Sometimes it pays to spend more money this year in order to ultimately save.
In other cases, however, it is better to postpone the investments to the next year from a tax point of view.
Here some examples.
Also read:
Tax return not yet submitted?
In this way you avoid expensive penalties from the tax office
Craftsmanship: Assert up to 6,000 euros a year for tax purposes
For example, have you planned extensive manual work for the coming year?
It may be worthwhile to bring one or the other issue forward to 2021.
From a tax point of view,
expenses
count
towards the year
in which the
invoice was paid
, according to the information provided by the Bavarian Wage Tax Aid at this point.
Good to know: In the case of
handicraft services
, you can deduct labor, travel and machine costs up to a
maximum limit of 6,000
euros per year and have 20 percent offset directly against the income tax to be paid, as can the Federal
Chamber of
Tax Advisors of the German Press Agency (dpa ) according to explained. The tax burden drops by a maximum of 1,200 euros.
An important consideration, also with a view to next year: Will the
costs of
the
craftsmen likely exceed 6,000 euros
? "If the maximum amount has not yet been exhausted this year, an
advance payment
should be quickly
agreed
with the responsible craft business
," advises the Bavarian wage tax aid, according to the announcement. “It is important to ensure that the
labor costs are shown
separately. If part of the total costs are transferred in advance and the expenses are split over two years, the tax advantages can double! "
Or did the
renovation work
in the apartment and house have
already been carried out this year
and the costs of the craftsmen for working hours, travel to and from the machine are over 6,000 euros? "Then the tax-deductible maximum amount for the year 2021 has been reached. The expenses above this can still lower taxes in the next year, ”the message states accordingly.
To
this end,
invoicing
and
payment
should be
postponed to 2022
, according to the experts' advice. Her tip: “Just ask the craft business whether payment will be deferred until the new year.” If possible, further renovations should then be postponed until the new year.
For further reading
: Tax return: With these costs you get a lot of money back
Don't forget the flat-rate income tax allowance
Even with a view to working in the home office due to the corona pandemic, one or the other investment can still make sense.
The experts from Lohnsteuerhilfe Bayern explain: If it is foreseeable that the
flat-rate
income
for 2021 will probably exceed 1,000 euros, it is worthwhile to purchase work equipment planned for 2022, such as specialist books, work glasses or the new printer for the coming year in advance.
"This means that the income-related expenses allowance can be increased," says the message.
"Because real tax advantages only bring those expenses that exceed the flat rate."
However, it can also happen that as a result of the frequent work in the home office, the advertising costs are lower this year, for example due to missed trips to the company - and the prospect of 2022 is different again.
"Many employees are missing many kilometers to crack the flat-rate for income-related expenses with the flat-rate distance allowance," says the statement from the Bavarian wage tax aid at the point.
Her tip: "If there are more trips to the office in the future, it is also worthwhile to move purchases from the wish list into the new year."
Read here:
Home office flat rate of up to 600 euros per year - plus for tax returns is only available in these cases
Tip for the tax: bundle medical expenses
Extraordinary burdens such as
illness-related costs also
reduce the tax burden. For example, expenses for
glasses
,
dentures
,
physiotherapy
and additional payments for remedies and
medicines
, as the Federal Chamber of Tax Advisors explains according to dpa. The tax authorities recognize exceptional burdens if the individual burden limit is exceeded. For example, for a childless employee with an income of 30,000 euros, this limit is around 1,646 euros, according to the dpa report. Who with his expenses once his
individual reasonableness limit
should therefore check whether it is possible to bring further medical costs into the current year - for example, by buying required glasses this year.
Conversely, it sometimes makes sense to postpone some expenses to the next year,
i.e. to
bundle
medical costs
with a view to 2022
.
The Bavarian wage tax aid gives an example: "Anyone planning a health resort or hospital stay or an outpatient laser eye surgery for 2022, for example, should postpone other health costs into the new year."
extraordinary loads
is necessary "so that a tax advantage arises".
If the self-borne costs were to be spread over several years in the meantime, “you would usually deprive yourself of the pleasure of lowering income tax due to the extraordinary burdens,” the experts point out.
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employees can count on that much Christmas bonus this year
Meanwhile, if the retirement is imminent, it would be “wise to shift health expenditures into the time of retirement”, reports the Bavarian income tax aid.
“Perhaps the new set of teeth or the purchase of a hearing aid can be delayed a little, for example.” The reason is that “for many, the pension is lower than the income from work”.
Thus, the individual reasonableness of income tax decreases "rapidly" with retirement.
Submit voluntary tax return for 2017 by December 31, 2021
Another tip for those taxpayers who are not required to file a tax return: In many cases, a
voluntary tax return
alone can get
some money out.
A reimbursement can beckoned you here, provided that you settle with the tax office within four years of the end of the calendar year, as the Stiftung Warentest generally informs you.
These deadlines apply:
2017 tax return:
December 31, 2021
2018 tax return:
December 31, 2022
2019 tax return:
December 31, 2023
2020 tax return:
December 31, 2024
So you can
submit your
voluntary tax return for 2017
to the tax office
until
New Year's Eve 2021
.
Sources: Communication from the Bavarian income tax aid, dpa
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