How can I claim operating expenses for tax purposes?
December 18, 2023 | 40,00 EUR | answered by Fanni Siebert
Dear tax advisor,
My name is Gerda Lang and I am in the process of starting my own business. I have many questions about business expenses and how I can claim them for tax purposes. At the moment, I am still at the beginning and therefore do not have much experience with tax matters.
There are already some expenses in my business, such as rent for my office, the purchase of office supplies, and the costs for my website. I am wondering how to best document these expenses and which receipts I need to keep. I am also interested in whether there are differences in the tax deductibility of business expenses depending on the legal form in which my company was founded.
My biggest concern is that I might do something wrong and consequently incur tax disadvantages. Therefore, I would be very grateful if you could explain to me in more detail which business expenses are actually tax deductible and what requirements I need to meet for this. Are there specific deadlines that I need to adhere to in order to include business expenses in my tax return?
I am looking forward to your expertise and hope that you can help me correctly and effectively claim my business expenses for tax purposes. Thank you in advance for your support.
Best regards,
Gerda Lang
Dear Mrs. Lang,
Thank you for your questions regarding business expenses and their tax deductibility when starting your business. I understand that there are many uncertainties at the beginning of self-employment and it is important to understand the tax aspects correctly in order to avoid any disadvantages. I am happy to provide you with detailed information and tips on how to correctly document and deduct your business expenses.
First and foremost, it is important that you carefully document all expenses directly related to your business activities. This includes things like office rent, office supplies, website costs, as well as travel expenses, phone and internet costs, advertising expenses, and insurance premiums. Keep all receipts and invoices safe, ideally in an organized filing system or digitally on your computer.
When it comes to claiming business expenses for tax purposes, there are no differences based on the legal form of your company. Whether it is a sole proprietorship, a GmbH, a UG, or a GbR, business expenses can be deducted for tax purposes. It is important that the expenses are business-related and not personal costs. Additionally, the expenses must be reasonable, meaning they must be in a commercial context with your business activities.
There are no specific deadlines for reporting business expenses in your tax return. You can report the expenses as part of your annual tax return. However, it is advisable to document and keep receipts and invoices promptly in order to be able to properly prove everything in case of an audit by the tax authorities.
I hope this information helps you and gives you confidence in handling your business expenses. If you have any further questions or need assistance, I am here to help. I wish you success in starting your business and in managing the tax aspects of your business expenses.
Best regards,
Fanni Siebert
