Which tax bracket is best for me as a single parent?
April 10, 2022 | 40,00 EUR | answered by Wolfgang Stricker
Dear tax consultant,
my name is Otto Herrmann and I am a single parent with one child. Currently, I am classified in tax class II, as I am a single parent and therefore entitled to a relief amount. However, I am wondering if there might be a better tax class for me that would bring me more benefits.
I am concerned that I may be paying too much taxes due to being in the wrong tax class, which could burden my financial situation. It is important to me to optimize my tax burden and thus have more money available for myself and my child.
Could you please tell me if tax class II is the best choice for me as a single parent, or if there is another tax class that offers me more advantages? What are the requirements to switch to another tax class and how will this affect my tax burden?
Thank you in advance for your support and advice.
Best regards,
Otto Herrmann
Dear Mr. Herrmann,
Thank you for your question regarding your tax class as a single parent. As a tax advisor, I can help you find the optimal tax class to improve your financial situation.
In your case, you are currently classified in tax class II, as you are a single parent and entitled to a relief amount. Tax class II offers several tax advantages for single parents, such as a higher relief amount and a lower tax burden compared to other tax classes.
However, there are also other tax classes that may be advantageous for you. One option could be tax class I, which you would automatically be classified into as a single working individual. In this tax class, you would not qualify for the relief amount for single parents, but you may pay less tax overall due to the lower tax rates.
To switch to a different tax class, certain conditions must be met. For example, to switch from tax class II to tax class I as a single parent, you would need to prove that you are no longer a single parent or that your child no longer lives with you. In this case, you would be automatically classified into tax class I.
It is important to carefully consider the implications on your tax burden before switching tax classes. A tax advisor can help you evaluate the different options and find the best solution for you.
I hope this information has been helpful to you. If you have any further questions or would like a more detailed consultation, I am available to assist.
Best regards,
Wolfgang Stricker
Tax Advisor
