Taxes

Tax Return Has Never Been More Important This Year

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Tax Return Has Never Been More Important This Year. First of all, especially for this year in Covid-19 the whole problem with now a tax return – triggering a sigh of relief for many employees. Many can expect a bright taxation point.

Many people find the tax return too tedious. Not wrongly. That it is suspected of being liable to amusement tax, so even if you don’t do your tax return out of whim: it has seldom been as valuable as it is today.

Taxpayers can collect money directly from the tax office. Eighty-seven per cent of employees get cashback with their tax return – an average of more than a thousand euros. Money that many can currently use well. Short-time employees. But also self-employed solo workers who are now without orders due to Covid-19.

With good tax software, filing is so easy that there is hardly an excuse for filing a tax return. Of course, you should do it digitally! We see it even more than usual: Schools, authorities, companies are learning digital life. This is exactly the right time to join as well.

Practical: The private costs of your professional digitization (i.e. for your tax software) can be included directly in the tax return.

Digitize Your Relationship With The Tax Office

Tax consultants are one of those professional groups these days who don’t run out of work. For many small and medium-sized companies, you have to clarify which corona aid can be used to ensure survival. And the experts are busy with these particular tasks.

Employees without large extra items or taxable pensioners can easily do their tax returns themselves. By digitizing your tax office relationship, you save the costs for the income tax aid association or tax advisor.

Extra Money Through Forced Home Office

For some employees, every cent counts in Corona times. If you have higher tax-deductible positions in 2020, you can apply to the tax office for an income tax reduction. With a tax exemption, your employer pays you a higher net salary at the end of the month. The application includes your expenses for work equipment you have bought yourself, including the laptop, toner and other things for the home office.

Speaking of home office: Not only working from home is complicated for some of us. Selling a home office is also more of an optional part of the tax return. That could be a little easier now. Hopefully, in pre-Corona times, only teachers, sales representatives and relatively few other employees could claim their workplace at home for tax purposes. In principle, stringent requirements apply.

However, many employers have currently ordered home offices for weeks and closed the office building—an essential requirement: the study must be a closed, office-like room. A work corner is not enough. So far. Because maybe the Federal Ministry of Finance will surprise us with a pragmatic solution. It should take the necessary time for this. After all, we also want to save taxes with the tax return for 2020.

Good luck with your tax returns this year!

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