What documents do I need for filing taxes as a self-employed individual?
May 22, 2024 | 40,00 EUR | answered by Wolfgang Stricker
Dear tax advisor,
I am Jenny Engel and have been running my own business as a self-employed individual since last year. As I will soon have to submit my tax return, I am faced with the question of which documents I will need for it.
I have never filed a tax return as a self-employed individual before, so I am unsure of what documents I need to collect and have ready. I have meticulously documented all my income and expenses, but I am not sure if that is sufficient or if additional documents are required.
I am worried that I may overlook or forget important documents and consequently have disadvantages in my tax return. Therefore, I would like to be well informed in advance and ensure that I have all the necessary documents together.
Could you please provide me with a detailed list of the documents I will need as a self-employed individual for the tax return? Are there any specific forms or receipts that I need to prepare in addition? I want to make sure that I do everything correctly and avoid any errors in the tax return.
Thank you in advance for your support and I look forward to your helpful tips and recommendations.
Best regards,
Jenny Engel
Dear Ms. Engel,
Thank you for your inquiry regarding the necessary documents for your tax return as a self-employed individual. It is understandable that you feel overwhelmed, as there are many details to consider when filing your taxes. Therefore, I will provide you with a detailed list of the documents you will need for your tax return.
Firstly, you will need your income documents that document your earnings as a self-employed individual. This includes invoices, freelance contracts, and bank statements. You should document all income and expenses well and keep track of them in a clear and understandable way. Additionally, you should prepare your profit determination, where you compare your income to your expenses.
Furthermore, you will need all receipts for your business expenses such as rental or leasing agreements, insurance contracts, office supplies, work tools, travel expenses, meal expenses, training costs, etc. All receipts should be neatly sorted and arranged chronologically.
If you have employees, you will also need payroll documents and receipts for payroll costs. Additionally, you should have your VAT return and VAT declaration ready if you are liable for VAT.
There are also special forms for self-employed individuals, such as Annex S for the income tax return, where you outline your profit determination as a self-employed individual. The Annex EÜR (income-expenditure account) is also relevant for self-employed individuals to compare their income and expenses.
In addition, you should also prepare your personal tax return and have all personal documents such as income tax certificates, health insurance contributions, pension statements, etc. ready.
It is important that you prepare all documents completely and properly to avoid errors. If you are unsure, I recommend consulting a tax advisor who can assist you in preparing your tax return.
I hope this list is helpful to you and wish you success with your tax return. If you have any further questions, please feel free to contact me.
Best regards,
Wolfgang Stricker
