Mistakes That Cost You Money
Every year we see the same tax mistakes recurring. The good news? They're easy to prevent if you know what to watch out for.
1. Forgetting Deductions
The most common mistake: you forget to deduct costs. Mortgage interest, healthcare costs, donations - always check the complete list of deduction options.
2. Poor Record Keeping
No receipts = no deductions. Keep everything digital or physical, and ensure an organized structure.
3. Filing Too Late
Late = penalty. The tax authorities charge €369 for each month of delay. Make sure you're on time.
4. Entering Incorrect Information
A typo in your IBAN or an incorrect amount can delay your refund or result in additional assessments. Double-check everything.
5. Not Using Tax Credits
There are various tax credits you may be entitled to: labor credit, general tax credit, parenting credit. Check if you've applied them all.
Tip: Unsure if you've done everything correctly? Have your return checked by a professional. It can save you a lot of money.