How can I deduct tax advisor costs from my taxes?
February 14, 2023 | 50,00 EUR | answered by Eva Peters
Dear Sir or Madam,
my name is Wanda Schlosser and I have a question regarding tax advisor fees. I am self-employed and regularly need the assistance of a tax advisor to submit my tax return correctly. So far, I have always paid for my tax advisor fees myself, but I am wondering if there are ways to deduct these costs from my taxes.
Currently, I pay a significant amount each year for the services of my tax advisor. As a self-employed individual with many expenses and fluctuating income, it would be a great relief for me if I could claim the costs of the tax advisor on my taxes.
My concerns mainly revolve around not knowing exactly how to report the tax advisor fees in my tax return and whether there are specific requirements I must meet to be able to deduct the costs. I also wonder if it is even worth it to deduct the tax advisor fees from my taxes or if the effort might outweigh the benefit.
Therefore, my question is: How can I as a self-employed individual deduct my tax advisor fees from my taxes? Are there specific regulations or requirements I need to consider? And is it even worth it to include the costs for the tax advisor in my tax return?
Thank you in advance for your support and advice.
Sincerely,
Wanda Schlosser
Dear Mrs. Schlosser,
Thank you for your inquiry regarding tax advisor fees. As a self-employed individual, you do indeed have the opportunity to deduct the costs for the services of a tax advisor from your taxes. This can provide you with financial relief, especially if your income fluctuates and you have many expenses.
In order to claim tax deduction for tax advisor fees, you must list them as business expenses in your tax return. This means that the costs must have been incurred in the course of your self-employment. The costs must also be reasonable and verifiable. This means that the amount of the costs must be in proportion to the services rendered.
To deduct tax advisor fees from your taxes, you must fill out the EÜR form (income-surplus calculation) in your tax return. There, you enter the costs for your tax advisor under the "Tax advisory costs" section. It is important to list all costs in detail and be able to provide invoices and payment receipts.
There are no specific rules or requirements you must meet in order to deduct tax advisor fees. You just need to ensure that the costs were incurred in the course of your self-employment and are reasonable.
Whether it is worth deducting tax advisor fees from your taxes depends on various factors. In general, it is advisable as it can reduce your tax burden and improve your financial situation. The effort of listing the costs in your tax return is usually manageable and should be worthwhile.
I hope this information has been helpful to you. If you have any further questions or require individual advice, please feel free to contact me.
Best regards,
Eva Peters
