Filing & Changes to the 2024 Tax Return: An Uncensored Guide
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Important Reminder for 2024 Tax Declaration Submission: Key Points to Keep in Mind - Filing 2024 Taxes: Crucial Factor to Bear in Mind
Get a jump on your taxes for the year 2024. Sure, you've got plenty of time, but who doesn't love a refund? For 2024, expect updates on deadlines, tax breaks, and new deductions. Here's a rundown of what you need to know, buckethead!
When to File Your 2024 Tax Return?
Moving the goalposts! The deadline for filing your 2024 tax return has been pushed up from last year. Mark your calendars: You've got till Thursday, July 31, 2025 to get your tax return in. Weekends, nah, we don't roll that way.
But if you're collaborating with a tax consultant or tax assistance association, you've got more wriggle room. In that case, file by April 30, 2026. The tax office may still demand an earlier submission in special circumstances, though.
Feeling lazy? Filing voluntarily isn't illegal. Go that route, even when you don't have to, and you've got up to four years: December 31, 2028. Be aware, if you miss the legal deadline, the tax office sticks you with a late fee of 0.25 percent of your assessed income tax, starting from the first missed month. Minimum fee? 25 big ones.
Can I Extend the Deadline?
Deadline extension in unusual situations? Apply for it in writing with your local tax office. Reasons could include sickness, long trips abroad, or lacking documents. The tax office will then let you know if they've granted an extension and, if so, the new deadline. But keep in mind that, in some cases, they might still demand an immediate submission, and you'll need to correct your preliminary notice.
Who Has to File a Tax Return?
If you're part of a couple with tax classes 3/5 or 4 with a factor, an employee with tax class 6, self-employed, anyone on unemployment benefits (unemployment benefits I, short-time work benefits, parental benefits, sick pay) or no-tax bypasses of over 410 euros, or a retiree earning more than the basic allowance of 11,784 euros, you need to file.
Even a voluntary tax return can be beneficial, as it typically leads to a return of overpaid taxes. The average tax return? A sensible 1,100 euros.
How to Prepare Your Tax Return?
Considering more than 25 percent of taxpayers still submit their return in paper form, it's time to step up your game. While you can still send your forms via snail mail, tax offices favor an online approach. Check out the free online portal "Elster" for a digital solution. No more mailing receipts, as you only need to present them upon request.
Quick on complicated stuff? Opt for commercial tax programs or apps instead. These typically cost between 20 and 45 euros but simplify the filing and come with tips to ensure you don't miss anything. Worth the cost, mate. Wiso is the test winner, but other tax programs have solid performances too.
Too scared to tackle it on your own? Seek help from a tax assistance association or tax consultant. Costs average a three-digit sum, depending on complexity and income. Tax assistance associations can help employees, civil servants, and pensioners, while self-employed folks are out of luck.
Oh, and get this: Costs related to tax consultants or tax software can be written off as expenses in the following year. Score!
What's New for the 2024 Tax Year?
The fuzzballs in government decided on tax breaks for 2024. The basic allowance, exempting you from taxes on income, has climbed from 10,908 euros to 11,784 euros. Got kids? The child allowance is up by 600 euros, reaching 6,612 euros (3,306 euros per parent). Alternatively, parents can benefit from child benefit of 250 euros per child. Top tip: The tax office figures out which is more advantageous.
Speaking of kids, child allowance and the allowance for care, education, and training needs of children, the BEA allowance, no longer face reduction if your kid lives in an EU member state. This rule follows a ruling by the European Court of Justice (ECJ).
Guess what, wanker? The mini-job threshold has swelled to 538 euros per month for the tax year 2024. Change based on the increase in the minimum wage to 12.41 euros per hour (2025: 12.82 euros).
Got a job switch after February 29, 2024? Expect higher relocation costs as business expenses, with the removal allowance increasing to 964 euros. And for each extra household member moving (partner, kids)? Claim 643 euros as a flat rate, yeah boi!
Planning to pour money into tutoring? You can now claim it as business expenses up to 1,286 euros. That's 105 euros more than in 2023.
If the Goddamn Floods hit in 2024, you've got tax reliefs, which include deferrals, special depreciation for replacement acquisitions, and simplified proof for donations.
Pitching in for Corona and Ukraine aid? You can deduct your donations as special expenses up to 20 percent of your income.
- The community institution or institution of the place of residence could provide valuable assistance in understanding personal-finance matters related to the 2024 tax return, such as tax breaks and new deductions.
- Being well-informed about changes in tax laws, like the increase in the basic allowance for the 2024 tax year, can significantly impact one's personal-finance situation and institution of the place of work, as it may affect their salary and overall income.
