Now it’s only 6 weeks to the end of the year – high time to think about the tax. Until you submit your 2016 tax return, you still have time until May 31, 2017. However, you will only be able to claim tax-deductible documents and expenses incurred during 2016. So check what you should fix or buy by 31 December 2016 to get the tax benefit.
Tip 1: Exploit Riester
Do you, like so many employees, have a Riester pension contract for personal retirement provision? You can claim 2,100 €, which you deposit here, in the appendix AV of the tax return. Check now: Many workers do not take advantage of this cap because they pay only small amounts under the Riester contract. If you now have money left over for retirement, it may make sense to take full advantage of the lump-sum payment – and you’ll get the tax benefit.
Tip 2: Generate reasonable advertising costs
Can you still generate meaningful advertising costs before the end of the year, which you can claim in the 2016 tax return? The tax office deducts 1.000 € for advertising costs. However, it is usually easy to prove that you have had costs of more than € 1,000 during the year surrounding your work. The prerequisite is that you can prove these costs with receipts and receipts. Here are some important issues that you can claim as expenses. Typical example:
Work equipment for a work corner at home, to do there in the evenings or on weekends, the one or the other overtime for your employer – for example: writing paper and paper, subscription bills, journals, online courses, etc., which pays out of pocket to have.
But beware: never allow yourself to be tempted to buy any item or issue just to save taxes. The emphasis is on “reasonable” expenses as income-related expenses. For example, the output for a textbook that you never read is always higher than the tax benefit that might result from this issue.
Tip 3: Did you have extraordinary strains this year?
Diseases or other pressures create stress and expenditure. Therefore, many people suppress the idea and are happy when they have survived everything. But now you should check again, if in 2016. As a medically necessary dental treatment had to pay partially out of pocket. Or support dependent parents? Sometimes, such and similar expenses can be taxed as “extraordinary charges”. How high this deductible percentage is depends on your income and marital status.