Income tax
Employees, the self-employed, pensioners and retirees, capital investors and landlords pay income tax – and can reduce their tax burden. Even students who have obtained their first professional degree can save taxes, even if they do not pay any taxes today. The objective is clear: more net from the gross. The best thing is to plan your income and savings measures together.
What is income tax?
Income tax also includes wage tax and the final withholding tax or capital gains tax. Anyone who has not received tax advice must submit their annual income tax return by the beginning of October of the following year. Deadline extensions are possible upon request. Those who instruct their tax advisor have more time: one and a half years. The following 7 types of income are subject to income tax:
- Income from agriculture and forestry
- Income from business operations
- Income from self-employment
- Income from employment
- Income from capital assets, dividends, interests
- Income from letting and leasing
- Other income
How do i save money?
Just a few examples: Income-related expenses are all expenses incurred for one type of income. Then there are extraordinary burdens above the limit of the reasonable burden, for example medical and treatment costs that are not reimbursed. Furthermore, there are costs for double household management due to work, expenses for household-related services and, of course, pension expenses, with which one can provide for retirement and at the same time save taxes today. In the case of special, one-off income, it is also possible to have the assessed church tax reduced. The list does not end there, but the devil is sometimes in the detail.
What Steu-Dat can do for you?
The best thing is to look into your near future together. We tell you what’s happening in tax law and you tell us what you plan to do. We will work with you to find ways of reducing your tax burden in the current year and in the years to come. This is done in a personal conversation or a detailed telephone or video call. The explanation for the past usually opens up little room for manoeuvre, but it can also carry over into the future – especially if you are an entrepreneur and are planning future investments. It stands and falls with the advice – and that is what we like to do: advise.
Further services
We plan with you. Tell you what works and what doesn’t and explain the tax law in an understandable way. We don’t complicate things.
Asset building
Your own company, rented real estate, a securities account with shares, distributing or accumulating funds – even statutory or private pension insurance contribute to asset accumulation. We will work this out with you!
Inheritance tax
Once the inheritance has occurred, allowances, deductions, asset distribution and many different valuation modes for assets come into play. Even the waiver of inheritance is a design that can contribute to tax reduction.
Tax structuring
…is a big word – it’s about hitting long passes. Sometimes only over a few years, sometimes until the exit from a start-up. Explaining complex topics in an understandable way is important to us.
Your contact persons
Angelika Kowis
Tax assistant, tax clerk
Hanna Stockmann
Tax specialist, accountant