As of: February 29, 2024, 6:53 a.m
By: Anni Gebhard
Comments
Press
Split
Pensioners can reduce their taxable income when filing their tax returns - a special trick helps.
Which allowances retirees should definitely know about.
Only very few people can say that tax returns are their favorite activity.
Pensioners are also subject to income tax and therefore have to sit down at their desk with the pile of folders once a year.
Many retirees cannot get by on their monthly pension alone and therefore have additional additional income.
If they use a little trick, pensioners can reduce their taxable income - what allowances they should know about.
Mini-job, pension provision, etc. – tax law provides exceptions for pensioners
For many retirees there isn't much left over at the end of the month.
In an international comparison, the German pension performs relatively poorly.
In order to cover their living costs, many people plan for their old age privately or work in mini-jobs or part-time jobs to supplement their pension accounts.
The additional money is considered additional income on your tax return.
Contrary to some expectations, these do not always have to be taxed.
Various allowances and costs incurred can help to significantly reduce the tax burden.
From the third year of pension: Personal pension allowance and flat rate tax-free
According to “lohnsteuer-kompakt.de”, the personal pension allowance is calculated for each pensioner in the second year of pension receipt.
This is highly individual, depending on your pension and expenses.
The calculated tax-free amount then remains tax-free throughout your life.
The personal pension allowance is then deducted before the pension is taxed and therefore remains tax-free.
For pensioners with additional income: retirement allowance could become important
The so-called old-age relief amount is of interest to all retirees who have additional or wage income in addition to their pension.
Additional income includes, for example, rent, Riester pensions or income from a part-time job or self-employment.
According to the North Rhine-Westphalia tax office, the tax allowance applies to everyone who has reached the age of 64.
My news
Income changes in March: Less money for pensioners, more in public services
More money for public sector employees: This is how much salary there will be from March reading
1 hour ago
Time change, money from the state and energy prices - what's new in March 2024 read
“It's hard to beat the cheekiness”: After seeing this, the customer asks Edeka to give her a written statement
Telekom change affects existing customers: the streaming change should start in February
“Naive or stupid”: Man doesn’t pay for electricity reading for three years
Not just employees: there are also income-related costs for pensioners
Anyone who regularly fills out their tax return will often be stuck with the word “business expenses”.
For employees in particular, these are things that they need for their job and can therefore be deducted from their taxes.
For craftsmen, for example, this would be safety shoes, for doctors, white jeans.
Pensioners also receive a flat rate of 102 euros as business expenses reimbursed on their tax return, for example if they work from home alongside their pension.
Then you could claim a proportion of the costs for the study against your taxes.
However, electricity or heating costs are only paid if the study is a closed room and is not used for other things.
Working during retirement?
Mini-jobs are tax-free for pensioners
There are various ways to collect double pension and salary.
If you don't want to (or can't) say goodbye to work completely in retirement, you can take on a mini-job without hesitation.
Mini-jobs are jobs in which employees work up to ten hours a week.
Together with the minimum wage, this limit rose from 520 to 538 euros last year.
If the salary exceeds the limit, the work is considered a midi job and the pensioner has to pay tax on the money.
Anyone who ultimately remains below the basic allowance after deducting all allowances and flat rates does not have to pay any taxes on their income.
Last year the basic allowance was 10,908 euros.