Several thousand euros savings: ten tax tips at the end of the year 

Created: 01/12/2022 05:18

Filing a tax return is usually no fun.

But especially at the end of the year one or the other way to save can be found.

© Lino Mirgeler / dpa

In 2022, the federal government decided on a number of reliefs.

Much of this help has been or will be granted automatically.

But for certain tax advantages you have to take action yourself.

Munich – The year is slowly coming to an end.

And with it the chance to secure one or two additional euros at the last minute.

If you still want to enjoy tax benefits until the end of December, you should start looking now.

Ten tax-saving tips that you can still benefit from.

1. Make good use of the savings allowance

Savers can collect interest, dividends and capital gains of 801 euros tax-free every year.

In the case of married couples, the exemption limit is doubled accordingly.

The prerequisite is that an exemption order for a sufficient amount has been deposited with the financial institution where the investment income accrued.

According to the Bavarian wage tax aid (LOHI), it is therefore worth checking before the end of the year which bank has generated income and adjusting the exemption orders if necessary.

Erich Nöll, Managing Director of the Federal Association of Income Tax Assistance Associations (BVL), advises anyone who has not yet exhausted the exemption amount to think about selling shares from their portfolio at short notice and taking capital gains with them.

Even those who buy back the shares on the same day in order to benefit from price gains can use the savings allowance.

2. Apply for a loss certificate

If gains and losses from investments occur in the same year, they can be offset against each other.

That saves taxes.

Only: If profit and loss arise at different banks, this is not easy.

Then you need a certificate of loss.

According to LOHI, this can be applied for at the bank concerned.

That goes until December 15th.

3. Secure a flat-rate energy price when you start a job

Many employees have already received the energy price flat rate of 300 euros from their employer.

Anyone who did not get it can secure the lump sum as part of the income tax return.

This applies to all those who were employed in 2022.

So anyone who takes up employment this year will receive the money.

The BVL points out that the activity does not have to be a full-time job.

For example, a mini-job, short-term employment or voluntary work with a tax-free wage is enough.

4. Retrospectively optimize the company car taxation method

Anyone who is provided with a company car by their employer and is also allowed to use it privately or for trips to work must pay tax on the benefit in kind.

There are various options for this: flat-rate taxation and daily billing, which requires a logbook.

Those who use their car little privately often drive better with the latter taxation, for private frequent drivers the flat-rate taxation can be worthwhile.

What has been new since 2022 is that the employer can change the calculation method retrospectively for the entire year.

It can be worth it if you subsequently drive cheaper with the other method.

So, for example, if the company car was driven much less frequently privately or to work than assumed at the beginning of the year.

For example then

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5. Claim donations for tax purposes

In times of crisis and at the festival of love, the willingness to donate is usually particularly high.

Anyone who considers church, charitable or non-profit organizations can also benefit from this themselves.

Donations of up to 20 percent of your total income can be deducted as special expenses in your tax return.

If the donations exceed the maximum amount, they can be carried forward to the next few years and then counted there, the BVL reports.

For donations of up to 300 euros, a bank statement or a deposit slip is sufficient as proof for the tax office.

For higher amounts, a proper donation receipt is usually required.

6. Deduct craftsman services

Would you like to quickly install a fireplace or have the heating repaired?

Sure, you have to get a craftsman for that.

But if that works, you can claim 20 percent of the invoiced tradesman services in your tax return – but a maximum of 1200 euros.

Prerequisite: You have the work carried out in the apartment you use yourself, which also includes second homes and holiday apartments, and pay by bank transfer.

According to the BVL, if the invoice for the work exceeds the amount of 6000 euros, it can be worth agreeing on two partial payments with the company carrying out the work.

One up to a maximum of 6,000 euros this year, the second only at the beginning of next year in order to get more tax savings.

7. Sell greenhouse gas reduction quota

Owners of a purely electric car can still sell their greenhouse gas reduction quota for 2022 at short notice.

There are various offers for this on the internet.

Depending on the dealer, the premium paid for greenhouse gas-friendly mobility can be between 250 and 470 euros, according to LOHI.

The money is tax-free for private individuals.

8. Spouse splitting through last-minute marriage

Is the wedding already planned?

Then it can be worthwhile to dare in December and take the advantages of spouse splitting retrospectively for the entire year, reports the Bavarian wage tax aid.

If only one of the two spouses earns, one can use the basic allowance of the other and thus save taxes.

If the income situation is appropriate, there could be a tax advantage of more than 10,000 euros.

Even if the salary difference between the spouses is large, it can be profitable.

9. Crack the flat-rate advertising fee

Since this year, the flat rate for advertising costs has been 1200 euros.

In order to get more out of your income-related expenses in your tax return, you have to exceed this amount.

So anyone who is already close to this limit in 2022 for job-related expenses - such as costs for applications, work materials, further training, work clothes and office equipment - should consider whether necessary investments can be brought forward.

According to LOHI, this saves taxes.

This could be a larger monitor, a color printer, an ergonomic office chair, special work glasses, reference books or PC accessories.

Anyone who postpones the purchase to the following year and then stays below the flat rate gives away the tax savings.

10. Make up for the 2018 tax return

You are not obliged to file a tax return?

Then it can still be worth submitting one.

On average, taxpayers get back more than 1000 euros every year.

Taxpayers who are not obliged to pay the tax can submit their return up to four years retrospectively.

But then it's over, any refund is given away.

"The declaration for 2018 must therefore be received by the tax office by December 31, 2022 at the latest," says Erich Nöll.

Author: Christoph Jänsch