Financial Tips in Germany
Lump-sums (Pauschbeträge) and tax exemptions reduce the taxable income and, thus, your tax burden. Some are deducted directly, and others must be applied for. You can save taxes with all of them. Find out more here.
The COVID-19 pandemic will be with us through 2021, resulting in more tax changes than usual. We are providing an overview of what changes for your taxes. We’ll also tell you what you need to be aware of and the cases where you can earn savings.
Retention Obligation (Aufbewahrungspflicht) is applicable for a handful of documents when it comes to tax returns. Documents and invoices accumulate over the years. As a result of the COVID-19 pandemic, more people have received certificates for income replacement benefits leading to more papers to store. In this article, we summarise which documents you need to keep and for how long.
Sometimes unforeseen costs come your way in the guise of high medical expenses, care costs or maintenance payments. You can deduct them from your taxes as extraordinary burdens or ‘Außergewöhnliche Belastungen’. Here's how you identify them and deduct them from tax.
Do you need special clothing just for work? Like a smock, uniform or protective suit? It may be tax-deductible! In this article, we explain what is considered work clothing or ‘Berufskleidung’, and how you can deduct the purchase and laundry charges as income-related expenses (Werbungskosten).
The tax return is on its way to the tax office. Well done!
All you can do now is... wait.
So when exactly will the tax office send through your tax return? Will it be a longer wait because of COVID-19? Get all your information here.
Many people have never considered filing their taxes. It used to be messy and complicated – and if you're a regular employee, you might not even need to file. Since not all taxpayers are legally obligated to file an annual tax return, there can be confusion when it comes to the deadline: It’s not the same for all taxpayers! Our overview of the different regulations will help you file on time regardless.