Purchases That Are Tax-Deductible That You Probably Didn’t Know About
Can you deduct your study from tax? And what about the costs of the daycare? Those who do their own tax return have to ask themselves such questions. Because many tax breaks are unknown to the public.
Household related services include all house related tasks that the taxpayer commissions and external provider do — for example domestic help, gardeners or caretakers. However, the services must actually be provided in the household. For example, if a gardener takes care of the parents grave, this does not count as household. Taxpayers are reimbursed 20 percent of the costs for auxiliary workers who work on a small job. For employees, 20 percent of the expenses can also be deducted. The maximum relief is 4000 dollars per year.
Business expenses are all expenses that are necessary to generate income. This area includes travel expenses, expenses for further training and expenses for office supplies. Every employee can claim a lump sum of 1000 dollars. Those who have higher expenses can also set off more. In this case, however, precise evidence is required.
Anyone who also uses their telephone for business can claim 20 percent of the telephone bill as advertising expenses, but not more than 20 dollars per month. Costs for work clothing are also considered income related expenses and are therefore tax deductible. However, only work clothing that cannot be worn in everyday life is considered work clothing, for example a judge’s robe, safety shoes or a doctor’s coat.
Anyone who has ever locked themselves out or accidentally demolished a bathroom tile knows the feeling. At this point, too, you can relax. Because the costs for locksmiths, tilers and all other craftsmen can be repeated up to 20 percent from the tax office, travel costs included. This works up to an upper invoice range of 6,000 dollars per year.
Education Loan and Student Loan
Opinions often differ on this point: When you graduate and get your first job, the first repayment installments are usually due. The paying off of a student loan cannot be deducted from tax — it does not count towards income related expenses, private expenses or extraordinary burdens. However, you can submit the interest on the education loan to the tax office.
The costs for tax software can also be stated as advertising costs. Of course, this also applies to smart tax. Using the interview guide, you can click your way step by step through all tax relevant topics to see how much money you will later get back from the state.