Income Tax – Steady Change in the Legal Situation? – Financial FairTax
Every year – the annual tax return is due. It is completely irrelevant whether you are subject to a legal obligation to pay or whether the levy is voluntary, the annual changes and innovations affect everyone.
Income tax return
Once you have submitted an income tax return to the revenue authority, you will have an easier time in the following years. Because it is advisable to make a copy in each case, so that you can take over the following year, only the figures from the previous year almost completely. As soon as you receive income from self-employment or business, it is always advisable to consult a tax consultant. In doing so, you can be sure that it is always up to date with the current legal and legal situation, since every tax consultant is obliged to regularly inform themselves about the current changes in the law and to take part in further education. In addition, an income tax calculator may be beneficial for further progression.
If you receive income from employment and are not required to submit a tax return, it is always advisable to make an income tax return by computer. A large number of the programs will charge you in advance the income tax paid or refunded. However, to make sure that you do not make any mistakes, the comment on the Income Tax Act by Haufe can offer you a good help.
From 16.07.2015, the basic allowance was raised to 8,652 EUR, the child allowance to 2,304 EUR and the child benefit to 190 EUR for the first two children and 221 EUR from the third child. Before making a tax return, you should always consider the following changes:
- § 10 special editions
- § 12 Non-deductible expenses
- § 19 Non-independent work
On the basis of the facts, it is worthwhile to consult a tax consultant in a large number of cases, as this is always up to date with changes in legislation and laws. However, if the cost and benefit factor is disproportionate, such as a low tax refund, you should familiarize yourself with the changes in advance prior to making the income tax return.