Which expenses can be deducted as operating costs?
October 18, 2023 | 50,00 EUR | answered by Anna Richter
Dear tax lawyer,
I am Paula Bahr and have been running a small online business for several years. Lately, I have been increasingly concerned with the topic of operating costs and I am unsure about which expenses I can actually claim for tax purposes.
So far, I have mainly deducted the usual costs such as rent for my office, telephone and internet fees, as well as insurance premiums as operating expenses. However, I am wondering if there are any other expenses that I have not considered yet.
My concern is that I may be leaving money on the table by not claiming all deductible operating costs. I want to make sure that I am taking advantage of all opportunities to minimize my tax burden and relieve my company financially.
Therefore, my specific question to you is: Which expenses are deductible as operating costs and are there possibly other items that I may have overlooked?
I thank you in advance for your assistance and look forward to your expertise in this area.
Sincerely,
Paula Bahr
Dear Ms. Bahr,
Thank you for your inquiry regarding deductible operating expenses for your online business. It is understandable that you are concerned about optimizing the tax structure of your company and want to ensure that you are taking advantage of all opportunities for tax savings.
As a self-employed individual, you can deduct various business expenses that are necessary for generating your income or are economically related to it. In addition to the costs you have already mentioned, such as rent, telephone and internet fees, and insurance premiums, there are other expenses that are deductible as operating costs.
These include costs for office supplies such as paper, pens, folders, printer cartridges, or office furniture. The acquisition and repair of technical equipment such as computers, printers, smartphones, or tablets can also be claimed as operating expenses. Other deductible expenses include further education and seminars, contributions to professional literature, or memberships in relevant professional associations.
Furthermore, you can deduct travel expenses for business trips, postage and shipping costs, advertising expenses such as for flyers, business cards, or online advertising, as well as travel expenses for business trips. Costs for external service providers such as tax advisors, lawyers, or web designers are also deductible as business expenses.
It is important that you keep all receipts and invoices carefully and submit them with your tax return in order to correctly prove the operating expenses. I also recommend that you regularly stay informed about current tax law changes to not miss out on any opportunities for tax savings.
I hope that this information is helpful to you and that you now have a better overview of the deductible operating expenses for your online business. If you have any further questions or would like more detailed advice, I am happy to assist you.
Best regards,
Anna Richter
Tax lawyer
