Due to the Corona crisis, some cantons have extended the tax filing deadline by several months. But one thing is certain: This period will also come to an end. That’s why it’s worth taking a coffee break or two at the home office to collect documents and file tax returns.
However: For employees, working from home does not bring any additional deductions, after all, it does not matter where you earn your salary from the employer in terms of taxes.
In this case, the self-employed might be a little better. If you normally work from home, you can deduct the cost of a room used as an office. For many freelancers, this is a small consolation in these very difficult times.
electronic help
More and more companies no longer send home wage statements but instead provide a link on the intranet. This saves a lot of paper. Neatly arranged, filing a tax return is almost fun! Do not forget to turn on the virtual assistant, which automatically calculates the deductions, especially if you fill out the online tax return that most cantons provide.
A state assistant with a high sense of citizenship: “The cantons have programmed the online assistant with citizens in mind. You don’t have to worry about that,” says Denis Boivin, 49, allaying concerns that the state might withhold one or the other tax cut.
He’s not worried that he might be out of work because of the little electronic helpers: “There are a lot of people who are allergic to filing tax returns. It doesn’t matter if it’s written or electronic,” says the head of tax and legal at trust firm BDO.
Twelve valuable tax-saving tips from BDO experts for anyone who doesn’t have an allergic reaction to their tax return.
Tip 1: Claim and document all deductions
It sounds trite, but it’s important. Every taxpayer should be able to prove tax reducing factors. It is therefore recommended that receipts be filed regularly throughout the tax year so they are ready to be filed at the end of the year.
Tip 2: Don’t forget the packages
It allows flat-rate deductions for tax filing, commuting, insurance, and other expenses. Also make sure you don’t forget anything.
Tip #3: Prepare for old age
You can pay a maximum amount per year in column 3a. For employees, this is a maximum of 7,056 francs in 2023. For the self-employed without a 2nd pillar, this is up to twenty percent of their income and a maximum of CHF 35,280.
Tip #4: Childcare deduction
Childcare deductions can be claimed from all cantons and the Confederation.
Tip 5: Underutilization deduction for estimated rental value
Even if children have been able to stand on their own for a long time, taxes can still be saved. Properties that become too large after children move or a life partner dies can claim a so-called “minus use deduction”.
Tip 6: Wealth management costs
Even if the stock market is not performing well, there are fees for asset management. These asset management costs incurred by third parties are deductible from taxable income. In the various cantons, you can choose between the effective deduction and a lump sum of 0.5 to 3 per thousand of the assets.
Tip 7: Education is worth it
All self-paid tuition and further education costs are deductible from taxable income. The maximum amount is 12,000 francs, even 18,000 francs in Basel-Stadt.
Tip 8: Claim healthcare costs
Self-financing medical and disability-related expenses are deductible if they are higher than 5 percent of net income. If you have a net income of 60,000 francs, you can deduct your medical expenses in excess of 3,000 francs.
Tip 9: Mention donations
Donations to charities are deductible from taxable income.
Tip 10: Indirect depreciation of mortgages
In the case of indirect depreciation, repayments are made to the bank to a column 3a account that acts as collateral for the bank. As a result, mortgage debt and interest on debt remain high and can be fully deducted from assets or income.
Tip 11: Save energy and taxes
Investments serving to save energy (with the exception of the canton of Lucerne) can also be deducted from taxable income if their value increases.
Tip 12: Pay your taxes early
The money in the savings account pays (almost) no interest. So is the money in the tax offices. Depending on the canton, interest is charged on prepaid taxes. But be careful: If you pay too late, you’ll have to pay a hefty penalty interest.