Which documents do I need to keep for my tax return?
July 19, 2024 | 40,00 EUR | answered by Anneliese Schaaf
Dear tax advisor,
I have a question regarding my tax return and the retention of receipts. I am Johann Altmayer, a self-employed entrepreneur, and I file my tax return every year myself. So far, I have kept all receipts, such as invoices, receipts, and bank statements, neatly organized. However, I wonder if there are certain receipts that I must keep and which receipts may not be relevant.
I am concerned that I may not have kept important receipts and could encounter problems with my tax return as a result. Therefore, I want to ensure that I correctly retain all necessary documents to avoid making any mistakes.
Could you please provide me with a detailed list of the receipts that I should definitely keep for my tax return? Are there specific deadlines for how long I must retain the receipts, and are there any exceptions for certain receipts? I would greatly appreciate your assistance on this matter, as it is crucial for me as a self-employed individual to do everything correctly and properly.
Thank you in advance for your help.
Sincerely,
Johann Altmayer
Dear Mr. Altmayer,
Thank you for your inquiry regarding the storage of receipts for your tax return. It is very important to keep all necessary documents properly to avoid any issues with your tax return.
In general, you should keep all receipts that are relevant for determining your taxable income. This includes invoices, receipts, bank statements, contracts, mileage logs, pay stubs, receipts for business expenses, donation confirmations, certificates of capital gains, and more. It is advisable to keep all receipts for at least seven years, as this is the legal retention period for tax-relevant documents.
However, there are exceptions and shorter retention periods for certain receipts. For example, receipts for tax-relevant transactions such as real estate purchases, inheritances, or gifts may need to be kept for up to 30 years. You can find detailed information on retention periods for different receipts in the Tax Code (AO) or feel free to ask me for assistance.
It is recommended to sort and archive your receipts properly to be able to quickly and easily present all necessary documents in case of an audit by the tax office. Digital archiving is also possible, as long as the electronic receipts comply with legal requirements.
I hope this information has been helpful to you. If you have any further questions or need assistance, I am happy to help. Thank you for your trust and attention.
Best regards,
Anneliese Schaaf
Tax Advisor
