A tax deduction is a reduction in your taxable income that can result in you paying less tax. In other words, tax credits can help you get money back in taxes. There are different types of tax deductions, which can include everything from work-related expenses to mortgages and charitable donations. More than 20 of these deductions you have to manually enter and report on your taxes yourself.
Your annual statement is a summary of your finances for the previous year, which you submit to the Danish Tax Agency. The advance statement, on the other hand, is a summary of your expected income and deductions for the coming year. It's important to keep track of both of these documents as they form the basis of your tax calculation.
It only takes 15 minutes to try TaxHelper and you'll get an average of DKK 2,704 extra back in tax
At the same time, you only pay if you get a tax saving.
1. Document all your expenses:
Start by collecting all receipts and documentation for expenses that may be deductible. This can include work-related costs such as transportation, office supplies and training.
2. Consider housing-related deductions:
If you own a house/apartment, interest costs and property taxes can often be deducted. Remember to include this information in your annual tax return.
3. Charitable donations:
If you have given to charity during the year, these donations can also give you a tax deduction. Make sure to provide the necessary information about your donations.
4. Professional advice:
Consider seeking professional advice from a tax expert. They can help ensure you optimize your deductions and get the best tax advantage. You can also find help at TaxHelper.dk
To find out your tax deduction in 2023, you need to carefully review your annual tax return and your advance tax return.
These documents contain information about your income and deductible expenses. If you are unsure how to calculate your tax deduction, you can contact the Danish Tax Agency or get help at TaxHelper.dk
Ultimately, it's all about paying attention to your finances and taking advantage of the deductions you're entitled to. With the right effort, you can potentially get money back in taxes and improve your financial situation.
By doing so, you can optimize your tax deduction and get the most out of your 2023 tax return.
In TaxHelper, we help you find the deductions you're entitled to. You answer a few simple questions that take just 15 minutes to complete.
Then we report the deductions, and you get an extra DKK 2,704 back in tax. At the same time, you only pay if you get a tax saving.