Which documents are required for the trade tax declaration?
August 17, 2023 | 40,00 EUR | answered by Eva Heuser
Dear tax advisor,
My name is Sebastian Walter and I have a small business for which I regularly have to pay trade tax. So far, I have always done my tax return myself, but this year I would like to ensure that I submit all the necessary documents correctly and completely.
I have a small business in online trading and generate an annual profit of approximately 20,000 euros. I am unsure about which documents are needed for the trade tax return and how I can best prepare them. I want to make sure that I submit all relevant information in order to avoid making mistakes and unnecessary trouble with the tax office.
My concern is that I may have overlooked or misinterpreted important documents, which could lead to incorrect information in the tax return. Therefore, I would be very grateful if you could provide me with a detailed list of the required documents for the trade tax return so that I can prepare optimally.
Can you also give me some tips on how best to sort and store my receipts and documents to make the preparation of the trade tax return as easy and efficient as possible?
Thank you in advance for your support and advice.
Best regards,
Sebastian Walter
Dear Mr. Walter,
thank you for your inquiry regarding the trade tax return for your small business in the online trading sector. It is understandable that you want to ensure that all necessary documents are submitted correctly and completely to avoid any potential errors.
For the trade tax return, you typically need the following documents:
1. Profit and Loss Statement (P&L): Here you need to state your company's profit, including both income and expenses.
2. Balance Sheet: The balance sheet compares the assets and liabilities of your company. It is important to accurately record all items.
3. Fixed Asset Register: This lists all fixed assets, such as machinery or vehicles.
4. Bank Statements: It is advisable to keep the bank statements of your business account for the relevant year to track income and expenses.
5. VAT Returns: These documents are important to consider VAT corrections in the trade tax return.
6. Operating Expenses: These include all costs incurred in the course of your business activities, such as rent, office supplies, marketing expenses, etc.
To make the preparation of the trade tax return as easy and efficient as possible, I recommend sorting and storing your receipts and documents properly. Here are some tips:
- Keep proper bookkeeping records: Record all income and expenses regularly and systematically.
- Separate business and personal finances: Maintain a separate business account to ensure clear separation.
- File receipts immediately: Keep all receipts and invoices carefully and organize them by categories.
- Digitize your documents: Use digital accounting programs to electronically capture and archive receipts.
I hope this information helps you prepare your trade tax return. If you have any further questions, please feel free to contact me.
Best regards,
Eva Heuser
