What are the most common mistakes when filing the trade tax return?
April 7, 2022 | 40,00 EUR | answered by Eva Heuser
Dear Sir or Madam,
I am Andrea Fischer and I run a small business. In recent years, I have always filed my trade tax return myself, but I now have concerns that mistakes could occur. I have heard that there are some common mistakes that can be made when filing a trade tax return and would like to know how to avoid them.
Currently, my situation is as follows: My business generates a profit for which I have to pay trade tax. I have collected all the documents and numbers for the trade tax return, but I am unsure if I have taken everything into account correctly. I want to make sure that I do not make any mistakes to avoid any issues with the tax office.
My concerns are that I do not know all the relevant information and regulations to fill out the trade tax return correctly. I want to ensure that I take advantage of all possible tax benefits and do not make any mistakes that could lead to additional payments or other consequences.
Could you please inform me of the most common mistakes when filing a trade tax return and provide me with tips on how to avoid them? Are there specific aspects or regulations that I should pay particular attention to? What documents and information are required to submit a correct trade tax return?
Thank you in advance for your help and support.
Sincerely,
Andrea Fischer
Dear Mrs. Fischer,
Thank you for your inquiry regarding the business tax return for your small business. It is understandable that you are worried about making mistakes in your tax return and potentially having problems with the tax office. I will now list the most common errors in the business tax return and provide you with tips on how to avoid them.
One of the most common errors in the business tax return is not correctly stating all relevant income and expenses. To avoid this, it is important to carefully check all documents and receipts and make sure that nothing is forgotten. Make sure to declare all income from your business, including any interest earnings or rental income. On the expense side, be sure to consider all business expenses such as rent, personnel and material costs, as well as depreciations.
Another common mistake is not taking advantage of certain tax benefits. There are various ways to reduce the business tax burden, such as considering carryforwards of losses or investment allowances. Familiarize yourself with the various tax benefits available to you and use them to optimize your tax burden.
Another aspect to pay special attention to is the correct calculation of the business tax. The business tax is calculated based on the business income, which is the profit of the company minus certain additions and deductions. Make sure to consider all relevant items in the calculation and consult a tax advisor if necessary to ensure that the calculation is correct.
To submit a correct business tax return, various documents and information are required. In addition to income and expense receipts, these include attachments to the business tax assessment, the profit and loss statement, as well as contracts and agreements if applicable. Make sure to complete all necessary documents fully and correctly to avoid possible queries from the tax office.
In summary, it is important to proceed carefully with the business tax return and to consider all relevant information and regulations to avoid possible errors. Take advantage of the available tax benefits to optimize your tax burden, and adhere to the legal requirements to avoid problems with the tax office. In case of uncertainties or complex situations, I recommend consulting a tax advisor to ensure that your business tax return is submitted correctly and error-free.
I hope this information is helpful to you and I am at your disposal if you have any further questions.
Sincerely,
Eva Heuser, Tax Advisor
