How do I calculate my tax rate for the income tax return?
April 3, 2023 | 50,00 EUR | answered by Tatiana Herrmann
Dear tax advisor,
My name is Lilli Weber and I am faced with the challenge of calculating my tax rate for the income tax return. I am an employee in a medium-sized company and earn a monthly gross salary of 3,000 euros. In addition to my main job, I also have income from a mini job amounting to 450 euros per month.
This year, I had some extraordinary expenses, such as the renovation of my apartment and the purchase of a new car. I am wondering how these expenses will affect my tax rate and if I can claim them for tax purposes.
I am concerned that I may have to pay a high tax rate and suffer financial losses as a result. That's why I am looking for clear guidance on how to calculate my individual tax rate and what options are available to optimize my tax burden.
Can you please explain to me how I can correctly calculate my tax rate for the income tax return? Are there any specific formulas or tables I can use? And what steps should I take to claim my extraordinary expenses for tax purposes?
Thank you in advance for your support.
Sincerely,
Lilli Weber
Dear Mrs. Weber,
Thank you for your inquiry regarding the calculation of your tax rate for the income tax return. I understand that you are concerned about having to pay a high tax rate and are therefore looking for clear guidance.
To accurately calculate your individual tax rate, your income from employment as well as from the mini job must first be added together. In your case, this results in a monthly gross income of 3,450 euros. This amount is then extrapolated to the year to determine your annual gross income.
Various factors are taken into account when calculating the tax rate, such as tax class, advertising costs, extraordinary burdens, special expenses, and other deductible items. Your extraordinary expenses, such as the renovation of the apartment and the car purchase, may be tax deductible under certain conditions. It is important to collect appropriate receipts and evidence to substantiate the expenses.
For the precise calculation of your individual tax rate, I recommend consulting a tax advisor. They can help you consider all relevant factors and optimize your tax burden. There are various formulas and tables that can be used to calculate the tax rate, but it is advisable to seek advice from an expert to avoid errors.
In summary, calculating the tax rate for the income tax return is individual and complex. With the support of a tax advisor, you can ensure that all relevant aspects are taken into account and you can optimize your tax situation.
I hope that I have been able to help you with this information and am available for further questions.
Sincerely,
Tatiana Herrmann
