Tax Tips: Save taxes by the end of the year

Sunday, 03.12.17 , written by Anja Schlicht By the end of the year, consumers can still save taxes by spending their money at the right time. Stiftung Warentest is currently drawing attention to this (Finanztest 12/2017). For example, employees may already pay a 2018 upcoming training to claim expenses as income-related expenses in the 2017 tax return. >  With the right expenses tax can be saved for 2017

  • Depending on their income, taxpayers can now secure tax savings of more than € 1,300.
  • This is possible by additional expenses over the advertising costs and 36-euro special expenditure lump sum, so Stiftung Warentest.
  • If the tax office stands in the acknowledgment of the expenditures transversely, the module Steuer-Rechtsschutz of your legal expenses insurance helps you.

With a few tax tips, consumers can now reduce their tax burden for this year . The prerequisite is that they have already exhausted existing lump sums, such as the flat-rate advertising allowance of € 1,000, through different expenses. As Stiftung Warentest calculates, the savings can add up to more than 1,300 euros , if the taxable income at 60,000 euros per year and beyond the flat-rate expenses are 3,000 euros.

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Prefer expenses and optimize taxes for 2017

For example, employees can save on taxes by paying for training courses due in 2018, or at least paying a partial payment later this year. The amount can then be deducted in the tax return 2017 as income-related expenses, as long as the bill was settled in that year.

Similarly, the tax deduction works for craftsmen . The tax office takes into account up to € 6,000 a year, paid by taxpayers to craftsmen for wages, travel and machinery. For example, if a renovation is planned in the spring of 2018, consumers can now make a down payment in order to use the full tax deduction.

Another tax tip is donations . “Expenditure to promote benevolent, church, religious or charitable purposes can be sold as special expenses, even with donations to other EU countries,” says Stiftung Warentest. A donation receipt is necessary starting from amounts of 200 euros and more.

Here are tips and more information about the investment. >

Anja Schlicht

editorial staff

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