A sigh accompanies the letter that is always in the mailbox at the beginning of the year. What is very well known is filing the tax return regarding this – an unpleasant task.
The two biggest changes this year are related to professional expenses in the home office and the new Property Costs Regulations. This regulates the direct federal tax deductions for energy-saving investments. If the charges were not fully accounted for in the year in which they were incurred, they can now be spread over three tax periods.
Here are the top tips for the next tax return:
1. Fill in the tax return digitally
Cantons offer online programs for filing tax returns. “Electronic tools have the advantage of creating or later checking many deductions themselves, such as child, family or second income deductions, thanks to queries. Also, there can be no calculation errors,” explains Martin Metzger, team leader for taxes at Vermögenszentrum VZ.
2. Subtract lump sums
It allows flat-rate deductions for tax filing, insurance, commuting, and other deductions. It’s worth checking that you haven’t missed anyone.
3. Remember to take precautions
Column 3a and pension fund payments are deductible from income. “Column 3a assets do not need to be listed in the securities list,” says Metzger.
4. Choose property maintenance costs
There are also several options for deducting maintenance costs for real estate. “Here you can choose between a flat rate and actual costs per year and per property,” says the VZ expert.
5. Request childcare
Childcare costs are deductible in all cantons. Metzger also advises: “Also, don’t forget about alimony and alimony payments for ex-spouses and children.”
6. Cryptocurrencies are assets too
Assets in cryptocurrencies are subject to wealth tax at the year-end exchange rate published by the Federal Tax Administration. Gains and losses from exchange rate changes are tax-free. “More income from cryptocurrency, for example if the currency was mined yourself (mining), is subject to income tax,” says expert Metzger.
7. Pay on time
If you pay your taxes early, you’ll still get some interest. Those who forget pay heavy penalty interest. Therefore, it is better to fill it on time.
Here are tips for taxes at the home office
Aline Leutwiler
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
