Tax return: You can deduct these insurances from your taxes
Created: 05/15/2022, 04:49 am
By: Andrea Stettner
Many insurance policies are tax deductible.
Which policies you can claim in the tax return - and which not.
Insurance can get pretty expensive.
Some cost several hundred euros a year.
But there is good news: many insurance policies are tax deductible.
In the tax return, they are then listed as special expenses, pension expenses or income-related expenses.
But which insurance costs can taxpayers state in their income tax return?
Which insurances are tax deductible?
According to the income tax assistance association,
unavoidable costs
are generally recognized as special expenses and tax-privileged.
This also includes numerous types of insurance, which we will present to you below.
Certain insurance policies are tax deductible.
They are listed as special expenses in the tax return.
© Hans-Jürgen Wiedl
1. Insurance for old-age provision (basic provision):
At the forefront are insurance policies that serve to provide for old age.
This includes the
statutory pension insurance
(without the employer's part), pension scheme
/ old-age funds
and
Rürup contracts
.
There is a maximum limit for pension expenses (2021 for single people at 25,787 euros, for married couples at 51,574 euros).
However, this can only be fully exploited from 2025.
2. Riester pension (additional pension):
The annual Riester contributions and state allowances can
up to a maximum of 2,100 euros.
3. Other preventive insurance policies:
In addition to the insurance for old-age provision, other insurances can also be claimed as special expenses
if they serve as a precaution
.
For employees and civil servants there is a
maximum limit
of 1,900 euros, the self-employed may deduct a maximum of 2,800 euros of the costs for this insurance from their taxes (double that applies for married couples).
These include, for example:
unemployment insurance
Health insurance
care insurance
Earnings/disability insurance
Supplementary health insurance (e.g. supplementary dental insurance)
Foreign travel health insurance
Sick pay insurance / daily hospital benefit insurance
Supplementary care insurance
accident insurance (for free time)
liability insurance
Motor vehicle liability insurance
term life insurance
capital life insurance
death benefit insurance
4. Professional Policies
Occupational insurance is not considered a special expense, but can be
fully deducted as income-related expenses
.
This includes accident insurance (proportional for the area of work), professional liability insurance or industrial legal protection insurance or legal expenses insurance (proportional for the area of work).
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Which types of insurance are not tax deductible?
On the other hand, you cannot deduct from the tax
pure property insurance
, which serves neither as a precaution nor is necessary for the job.
These are therefore avoidable and are therefore not tax-advantaged.
These include:
Household insurance
Comprehensive car insurance
Private pension insurance: capital investment products
Private legal protection insurance
Rental legal protection insurance
Traffic Legal Protection Insurance
What evidence is required for the tax office?
The tax office
only requires proof for those insurance policies that are not listed on the wage tax assessment
.
You should always keep relevant bank statements or transfer receipts as proof.
According to the income tax assistance association,
invoices are
not
sufficient , since the tax office only recognizes the insurance that has actually been paid.
By the way, if you avoid the most common mistakes in tax returns, you will get more money back.
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