How does the submission of a tax return for self-employed individuals work?
January 14, 2022 | 40,00 EUR | answered by Anneliese Schaaf
Dear tax advisor,
my name is Andrea Zellerbach and I am a self-employed graphic designer. In recent years, I have always prepared my tax return myself, but this year I feel a bit overwhelmed and uncertain. I have heard that submitting a tax return for self-employed individuals can be more complicated than for employees and would like to learn more about it.
Currently, I keep track of my income and expenses, but I have no experience with determining depreciation or calculating business taxes. I am concerned that I may have overlooked or incorrectly reported important costs. Additionally, I am unsure about which receipts and evidence I need to provide for my tax return.
Can you explain to me how exactly the submission of a tax return for self-employed individuals works? What steps do I need to follow and what documents are required? Are there any specific forms or programs that can help me with preparing my tax return? And how can I ensure that I accurately report all relevant costs and depreciations?
I would be very grateful if you could assist me with these questions, as I would like to take care of my tax return in a timely and correct manner.
Thank you in advance for your support.
Sincerely,
Andrea Zellerbach
Dear Mrs. Zellerbach,
Thank you for your inquiry regarding the preparation of your tax return as a self-employed graphic designer. It is understandable that you feel uncertain, especially if you have previously prepared your tax return yourself and are now faced with more complex issues.
As a self-employed individual, there are indeed some special considerations to keep in mind when it comes to filing your tax return. First and foremost, it is important that you carefully document your income and expenses. This includes not only your fees, but also all business expenses such as material costs, office rent, insurances, etc. These expenses can usually be claimed as tax deductions, thereby reducing your tax burden.
An important aspect of preparing your tax return as a self-employed individual is depreciation. This refers to the decrease in value of business assets such as computers, printers, or software. These depreciations must be accurately calculated and reported, as they can also have a tax-reducing effect.
To ensure that you correctly report all relevant costs and depreciations, I recommend that you consult an experienced tax advisor. A tax advisor can assist you not only in preparing your tax return, but also in optimizing your tax situation. They can check if you are taking advantage of all tax optimization opportunities and provide assistance with any questions or uncertainties.
Regarding the necessary documents for your tax return, you should gather all receipts and evidence of your income and expenses. This includes invoices, bank statements, receipts, and contracts. The more complete and organized your documents are, the easier it will be to prepare your tax return.
There are various programs and software solutions that can help you with preparing your tax return as a self-employed individual. These programs guide you through the steps and help you provide all relevant information. A tax advisor can assist you in selecting a suitable program.
I hope this information is helpful to you and I am available for any further questions. We can also schedule a meeting for a detailed consultation.
Best regards,
Anneliese Schaaf, Tax Advisor
