It's a challenge every time: filing tax returns. What should you really not forget to fill in? And how do you know you're doing it right? After all, you're not waiting for an after-tax bill of several thousand euros. Not to worry, Oskar Barendse – Financial Planner at Knab – gives a few handy tips!
1. Filing your tax return
Ready to fill out your tax return? Make sure you fill in the deductions you are entitled to yourself. For example, have you just taken out or transferred a mortgage? Then you may deduct the expenses incurred from your taxable income.
Not sure what deductions you are entitled to as a homeowner? In this handy checklist'Tax return' Knab has listed them all for you. You can'm free download.
Invest
Also, keep your attention when you invest. You pay 15% dividend tax on this, but this is double because you also pay tax on your assets in box 3. You can usually reclaim dividend tax. You then have to fill this out yourself.
There is even an exemption for green investments. Up to € 60.429 you pay no tax on this. With a tax partner this is € 120.858. You also get a 0.7% rebate on your income tax.
Dividing deductions
Do you have a tax partner? Then file your tax returns together. If you are married or living together, you may take advantage of additional deductions. Think about mortgage interest deductions, student loan deductions and spousal support deductions.
If one of you has little or no income? Then you are usually entitled to a tax credit. How high this amount is varies from person to person. Because the tax credit depends on the amount of your joint income.
2. Checking the tax return
Don't forget to check your tax return afterwards. Even if you no longer fill in additional information yourself. The pre-completed tax return (VIA) is not always correct.
Don't quite get there and don't know what to fill out? Look for the question marks in the yellow blocks next to the question. Chances are you can find the answer to your question there.
3. Filing the tax return
When you're ready, it's time to file your tax return. Do this before May 1. You can't save that? Then you can apply for an extension until September 1, but even that application must be in by May 1. How to avoid a fine.
Guest blog by Arlette Cerneus
Arlette is a Content Marketer at Knab and writes mainly about financial matters, such as mortgages, insurance and taxes. This is how she helps you get a grip on your finances