Tomi Vainikka - Keikkalasku 3.4.2024
With the arrival of spring, one thing is as certain as melting snows, tax returns will be sent to citizens. With little effort, you can save hundreds of euros by carefully checking pre-filled declarations and, if necessary, filling in the missing information.
The tax administration receives a lot of information automatically, but you have to remember to report some of the income and deductions yourself. In particular, the pre-filled tax return should be checked to make sure that the deductions entered in it have been recorded correctly.
1. Workhouse deduction
The workplace deduction is included in income acquisition costs and is eligible for those who work from home or have acquired a separate workspace for work. You should definitely use the workplace deduction in your tax return.
The size of the deduction depends on many factors, such as how much of the workroom is used to generate income. However, the maximum amount of the deduction is 940 euros. Detailed instructions and additional information can be easily found From the website of the Tax Administration.
2. Reimbursement of expenses not yet received, to be reported ex post
If travel expenses have been accrued at work that are not indicated in the request for invoicing, it is still not too late to take them into account for tax purposes. Daily allowances and mileage expenses can be included as long as you keep track of the trip information, such as a driving log showing the route, time, purpose of the trip, schedule and vehicle registration number.
3. Tools and their maintenance
If you have had to purchase and maintain the necessary tools, musical instruments, computer technology, kitchen equipment or, for example, photographic equipment, these expenses are deductible for tax purposes.
Acquisitions worth more than EUR 1200 with a useful life of more than three years will be allocated over several tax years. Depreciation per item is not more than 25% per annum until the value of the acquisition is completely removed from taxation. More information can be found From the website of the Tax Administration.
Please note that when completing the tax return, it is not necessary to send receipts or vouchers, but it is important to keep them for six years from the end of the tax year.
4. Professional literature and workwear
Expenses for the purchase of books and trade journals relating to the industry and profession may be deductible when they are necessary to maintain professional competence in the work. Examples of deductible professional literature may include, for example, graphic design guides or restaurant industry publications such as wine and food magazines. For musicians, this can also include materials acquired for practice in the software, such as sheet music, audio recordings, Spotify subscription and gig tickets.
The cost of purchasing workwear can be reduced for tax purposes if the work requires protective clothing, the clothes are worn more than usual or cannot be worn in leisure time. Such may be, for example, performance clothing or a chef’s coat. It is important to note that protective equipment needed at work or, for example, thermal layers are also tax-deductible workwear.
If the purchased clothing has a company logo printed on it, or the performing musician has the logo of his band, then such clothing purchase expenses are accepted as tax deductible.
5. Computers and Telecommunication Connections
If you use your own computer for work, you can deduct from its purchase price the part corresponding to the use of the work in taxation, in practice 50-100%. In accordance with the same principles, a deduction for a telecommunications connection, such as a broadband connection, can also be granted. More information you can easily find From the website of the Tax Administration.
Please note that the taxman may request a separate report on the work use of telecommunications connections.
6. YEL insurance
If you are YEL insured, you can deduct these premiums on your tax return. In this case, you can add the amount of YEL insurance premiums to income accrual deductions.
Keep this in mind:
To ensure smooth processing of your tax return, make a clear breakdown of your income generation expenses. This makes it easier to process your tax return and you are more likely to avoid additional clarification requested by the taxman. Even if the income acquisition costs are reported as a single sum in the tax return, you can attach them according to the breakdown as an attachment.
Be sure to check your return date on your pre-filled tax return, as the return date may be as early as the first week of May.
However, in the event of errors, corrections and requests for corrections may be made to the tax decision retrospectively for three years.
And finally: The tax return does not include receipts and vouchers, but all reported income acquisition expenses must be kept for the next six years from the tax year onwards! In other words, the tax receipts for 2023 must still be kept in 2029.
