Euro on Sunday tax tips: due date December 31! How Investors and Professionals Reduce Their Tax Burden for 2020 | message
Raw materials in this article
by Stefan Rullktter, Euro am Sonntag
1 | Exchange losses
Realized price losses with stocks are only
with profits from other stock sales
can be offset, but not with price gains
from funds and bonds, interest and dividends. Anyone who has bankruptcy papers in their depot can
a purchase contract with a third party
complete. The acquisition costs minus the agreed
Purchase price can be claimed. are
the papers are already booked out, total losses can only be offset against via tax return.
2 | Exemption orders
As paying agents of the
Treasury for fund customers as of January 4, 2021
again the so-called advance flat rate
remove the tax authorities. The anticipated taxation of capital gains applies to accumulation and distributing funds that do not distribute all of their income. Affected fund investors can
Exemption orders (801 euros single persons, 1,602 euros jointly assessed) fr
the following year before December 31. to adjust.
3 | Gold shops
Share price gains realized in 2020 with
Xetra-Gold and comparable bearer bonds (Exchange Traded
Commodities, ETCs for short) such as Gold bullion
Securities and Euwax Gold II, the delivery claims for physical gold to the gram
securitization, are sold after more than
Twelve months holding period tax-free. Realized losses on physical gold investments
in return are only available for sale within
The annual period can be offset against tax.
4 | Riester contracts
Contributions to Riester contracts paid this year are deductible as special expenses, up to a maximum of 2,100 euros.
Who until 31.12. another Riester contract
concludes, for example as a fund or ETF savings plan, the full
Secure state subsidies (basic and child allowances, as well as a later tax refund for contributions paid) for 2020. Contributions to old Riester contracts can still be adjusted if necessary.
5 | Certificate of loss
Anyone who has deposits at several banks and fr
2020 realized losses on share sales
with share profits generated elsewhere
wants to offset, this must be done later
Apply for an income tax return separately. A loss certificate is required for this
required by December 15, 2020
to be requested from the custodian bank. Same thing
applies if spouses assessed together
or registered partners want to offset Miese across all depots.
6 | Allowances from the state
All Riester allowances, employee savings allowances and the housing construction premium for 2018
are to be requested for corresponding contracts by December 31, 2020. Otherwise the bonuses expire. For this, it may be necessary to submit a tax return for
2018 necessary. The deadline for the so-called
Application assessments run for four years. who
was not obliged to surrender around 2016,
but with a tax refund for the year
can still declare until December 31, 2020.
7 | Work equipment
All self-borne costs this year
for office equipment, computer equipment
and work clothes are deductible if they are
more than 90 percent used for work
and are in total above the flat rate for advertising expenses (1,000 euros). costs
Work equipment more than 952 euros gross (800
Euros net), they are over the useful life
proportionately deductible. Work equipment bought second-hand as well as self-paid for in 2020
Training costs are deductible.
8 | Workspace
Rental and equipment costs for domestic use
Study rooms are up to the height of 1,250
Euros annually deductible if they are the focus of professional activity. Kitchen tables and hallways are not recognized, even as home offices. If the requirements are met, the 2020 ones are
Pro rata deductible costs for a study. This includes, for example, rent, depreciation, electricity, heating, water, but also garbage charges.
9 | Corona bonus
Employers can employ employees due to
Pay out tax-free subsidies and support of up to 1,500 euros during the corona crisis.
The Federal Ministry of Finance has specified the requirements in a decree.
Cash allowances and benefits in kind are possible
for employees until December 31st
2020. The grants and support
must be granted in addition to the wages owed anyway, a “salary conversion” is excluded here.
10 | Company car
The environmental bonus for the purchase of an e-vehicle as part of the Corona economic stimulus program is up to 9,000 euros. At
private charging stations are granted by the federal government fr
the installation to 900 euros. Also have to
E-company car drivers the monetary benefit
for private use only with 0.25 instead
Regularly tax one percent of the gross list price per month. The assessment limit for the gross list price was at
E-vehicles raised to 60,000 euros.
11 | ride costs
Commuters can take trips and walks too
her first job at the age of 30
Deduct cents per kilometer of distance up to
at 4,500 euros per year. It’s worth it without
Other advertising expenses from 15 kilometers to work. Travel costs will be higher
only recognized for receipts, e.g. for train tickets. The tax authorities consider 230 working days per year for five-day weeks to be credible,
with verifiable six-day weeks
are recognized up to 270 working days.
12 | Craftsman expenses
Anyone who has paid tradespeople for their private household can do 20 percent of their money
Invoices paid by bank transfer for labor costs directly from
deduct the tax liability, maximum 1,200
Euro. Non-cash paid costs for a craftsman’s report are also deductible
in private households (FG Baden-Wrttemberg,
Az. 1 K 1384/19). The same applies if the landlord is a craftsman in private moves
commission (FG Sachsen Az. 4 K 194/18).
13 | Household services
This year there was expenditure for so-called household services
are 20 percent for cashless payment (up to
at 4,000 euros annually) directly deductible from the tax liability. In addition to the cost of fr
Household helpers, gardeners, winter services,
Elderly carers, au pairs and caretakers apply
the tax bonus also for pet care
and private street cleaning. A deduction is
even possible for staff who in 2020 fr
House celebrations was engaged.
14 | Home office
So that the tax office covers the cost of a
Home office recognizes companies need
working from home explicitly
have arranged. Only if no one else
If a workplace is available, a home office cannot be taken into account for tax purposes
but if a change is only optional
has been. Workers should therefore
Have a written certificate issued by your employer stating the period in which the
Company workstation was not available.
15 | Rrup contracts
For 2020, 90 percent of private basic pension contributions are up to an amount
of 25,046 euros deductible, with together
invested partners up to 50,092 euros. So that the self-employed can come to an end
claim up to 22,541 euros of their contribution payments as a special tax-reducing expense. Those who are jointly assessed benefit from a double tax bonus (45,082 euros). Deposits are until 10.1.
of the following year for 2020 tax-effective.
16 | exercise leader
The income generated in 2020 from part-time activities as an exercise leader, lecturer, supervisor or educator remains up to
a total amount of 2,400 euros tax-free. Losses related to the
Activity as an exercise leader are also available
can then be offset against tax if the corresponding income does not exceed the tax exemption allowance. Payments can
possibly until the end of the year
be timed so that they remain tax-free.
17 | Moving costs
Since June, the flat-rate moving costs are no longer based on marital status:
The person moving can claim 860 euros for each additional person in the household
(Spouse, domestic partner and children) 573
Euro. Who for the first time has his own apartment
refers to or dissolves these, can only be a flat rate
still claim 172 euros. The
Flat rates reduced: for every child since
June 2020 only 1,146 euros deductible.
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