Tax Time

| 1 Comment

I admit that I almost forgot to complete and send in my tax form this year, but today I finally got around to it. I'm not too pleased with the results and I'm rather irritated because of all the "promises" made on the folder that came with the dreaded brown envelope.

Let's take a look, shall we?

Last year, I paid an extra 90 euro in taxes, in addition to everything that had already been kept from my paychecks and such. This year I'm looking at an extra bill for 468 euro - how anyone can claim that "everyone pays less taxes" is beyond me.

Here are some of the categories of people that can benefit from the reduced taxes, or increased options to deduct :

- purchase an environment friendly car. I have one, but I can't benefit from it, because it's not "new".
- increased deduction of costs for daycare for kids. D'oh, I don't have kids.
- Increased deduction if you prove work-home travel expenses. Probably my mistake, I think I may benefit from this, if I would have done so. Will need to inquire and prepare for next year.
- Increased limits for scholars working a job during the holidays. Hm... not for me either.
- Increased deduction for pension savings. I should verify and possibly increase my payments.
- A simpler way to deduct mortgage payments for your home - for mortgages after January 1st 2005. Again, not for me.
- Internet for everyone - I've been on the web since the mid nineties people, this comes a bit late, don't you think?

I think it's time to have a professional take a look at my income and expenses, to optimize things. For once I actually tried to read the "manual" that came with the forms - it's supposed to help you out - and I just got more confused. This is insane and even tax administration employees admit that it's become impossible for Joe Average to correctly file their taxes without help. For those of you unfamiliar with how the tax forms look, think Lotto, with one slight drawback : the chance that you actually win on this form is 1 to a gazillion :(

1 Comment

I didn't know about that work-home travel thing either till my b/f told me about it. It saves you quite a lot of money!! If I'd been living where I live now for a year I would have gotten back over 1000 euro!! (now it's a bit less cause I didn't live that far from work for a year but still I'm getting back thanks to that! :-)) don't forget it next year! I made the same mistake last year and had to pay :-(

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This page contains a single entry by ServMe published on July 1, 2007 4:40 PM.

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