How can I optimally deduct my business expenses from taxes?
January 3, 2022 | 40,00 EUR | answered by Martina Köhler
Dear Tax Advisor,
My name is Leonie Zollmann and I am in the process of starting my own business. I am very motivated and want to do everything right in order to optimize my business expenses for tax deductions. However, I am unsure which expenses are actually deductible and how to best implement this.
My company is in the field of event planning and I have already made some investments, such as purchasing office supplies, renting my office, and acquiring technical equipment. I am not sure how to properly record these expenses and deduct them from taxes.
My biggest concern is that I may overlook expenses that could be tax-deductible and end up paying unnecessary taxes. That's why I would like to hear from you which business expenses I can deduct optimally from taxes and how to best do that. Are there specific documents I need for this or special requirements I need to meet?
I would greatly appreciate your support and expertise to ensure that I deduct my taxes correctly and optimize my financial situation as a business founder.
Thank you in advance for your help.
Sincerely,
Leonie Zollmann
Dear Mrs. Zollmann,
Thank you for your inquiry and your interest in my expertise in the field of business start-ups and tax optimization. I am pleased to hear that you are thoroughly engaging with the topic and want to ensure that your business expenses are optimally deductible from taxes.
As a tax advisor, I would like to help you identify the business expenses relevant to your company and deduct them correctly from taxes. In the field of event planning, there are a variety of expenses that can be claimed for tax purposes. Deductible business expenses include costs for office supplies, office rent, purchase of technical equipment, travel expenses, advertising costs, insurance, training and further education, telephone and internet costs, as well as costs for services and external consulting.
To deduct business expenses correctly from taxes, it is important to carefully keep and document all relevant receipts and invoices. You should maintain proper bookkeeping in which all income and expenses are recorded seamlessly. You can either use a software solution for this or hire a tax advisor to assist you with bookkeeping and tax return.
It is advisable to consult with a tax advisor early on to ensure that you are maximizing all opportunities for tax optimization. A tax advisor can help you avoid tax pitfalls and efficiently manage your taxes. Additionally, they can inform you about current tax regulations and provide valuable tips for tax optimization.
Overall, it is important that you engage with the topic of taxes early on and seek professional support to ensure that you deduct your business expenses optimally from taxes and thus optimize your financial situation as a business founder.
I am available for further questions and individual consultation. Do not hesitate to contact me to schedule an appointment for an online consultation.
Best regards,
Martina Köhler, Tax Advisor
