Can I deduct my training costs from my taxes?
October 26, 2022 | 50,00 EUR | answered by Ralf Otten
Dear tax advisor,
My name is Marcus Lindenberg and I recently completed my training as a mechanical engineer. During my training, I have incurred various costs such as tuition fees, specialized literature, work materials, and travel expenses. Now I am wondering if I can deduct these training costs from my taxes.
I am aware that the deductibility of training costs depends on various factors, such as the type of training, the field of work, and personal circumstances. I am unsure if my training is considered initial education or further education, and if I can claim the costs in my income tax return.
I am concerned that I may be missing out on the opportunity to get back money that is rightfully mine. Therefore, I would like to know from you if and to what extent I can deduct my training costs from my taxes. Are there specific requirements that I need to meet in order to deduct the costs? What documents do I need and how do I report the training costs in my tax return?
I am grateful for your professional advice and hope that you can assist me. Thank you in advance.
Sincerely,
Marcus Lindenberg.
Dear Marcus Lindenberg,
thank you for your inquiry regarding the tax deductibility of your training costs as a mechanical engineer. It is understandable that you are thinking about this issue and want to ensure that you take advantage of all opportunities to claim tax benefits.
First of all, it is important to clarify whether your training is considered as initial education or further education. Generally, training that is undertaken directly after completing school is considered initial education. This includes, for example, a university degree or vocational training. Further education, on the other hand, usually takes place after completing initial education and serves to deepen or expand existing knowledge.
Unfortunately, the tax deductibility of training costs for initial education is limited. In general, expenses for initial education cannot be claimed as business expenses, but only as special expenses up to an amount of 6,000 euros per year. This includes costs such as tuition fees, specialized literature, work materials, and travel expenses. However, it is important to note that not all expenses are deductible and certain conditions must be met.
To claim training costs in your income tax return, you will need corresponding receipts and proof to substantiate the incurred costs. This includes invoices, receipts, or bank statements. You should keep these documents carefully and be able to present them if needed.
In your tax return, you will report the training costs in the special expenses section. There, you will enter the corresponding amounts and claim that they are expenses for initial education. It is advisable to seek assistance from a tax advisor to ensure that all information is correct and complete.
I hope that this information has been helpful to you. If you have any further questions or need assistance, please feel free to contact me.
Kind regards,
Ralf Otten
