Who doesn’t have a headache to fill out their tax return? Or to verify it: the data pre-filled by the tax authorities often contains errors. Fortunately, our tax expert Michel Maus will also help you this year. He will help you complete your declaration, from the first box to the last: where should you declare the bitcoin earnings? Or for which codes do you have to check if they have been entered correctly? Read it here.
It’s an old problem that the tax return and accompanying explanation often raise more questions than they answer. And on top of that, each year of evaluation is also different from the previous one and your family and your life also evolve each year. What are the tax consequences of investing in bitcoins, buying a house, the daughter who starts working as a work student, the father who needs your alimony to pay for the residential care center? These are just a few examples of questions that many Flemings ask themselves when they file their annual tax return. HLN wants to help you with this and calls our tax expert Michel Maus for this.
In our tax guide, it explains step by step how to complete your income tax return:
• Box I to VI: on dependents, support benefits, property, work-from-home assignments, overtime, and pensions. Did you know that children do not necessarily have to depend on their parents if they really live with a partner who has much more income and has to pay much more taxes? Or that child support benefits can also be tax deductible for someone with a good pension?
† vak VII to table XI: about Airbnb, dividends, child care, service vouchers, royalties, gifts and retirement savings. Do you know that you can recover the withholdings that your bank has already withheld through your tax return? And isn’t it always a good idea to go for the max when saving for retirement?
† Courses XII to XXII: About what income you have to declare, such as bitcoin or NFT income, actual costs, and hobbies that turn into a secondary profession. Do you know exactly what to declare (and what not) if you have invested in bitcoins or an NFT? And what could be the consequences if you partially use your home professionally?
Tax experts join forces in ‘Ideal Prosecutor’
Together with other leading tax experts, our money expert Michel Maus founded the action group Fiscaal Ideal, which works for more transparent and fair taxation. Especially the fact that it has become almost impossible for an ordinary citizen, but gradually even for non-specialist accountants and tax specialists, to understand all aspects of our tax legislation, is a thorn in his side. Fortunately, Tax Idealists don’t just complain, they try to help by explaining what a taxpayer needs to watch out for and how they can get redress if they are treated unfairly by the tax authorities.
For example, former tax professor José Haustraete (UGent) drafted a writ of objection that you can use to protest against the Cadastral Revenues that the tax authorities put on your real estate abroad. He can also find here how to calculate a realistic AI to present to the tax authorities.
Tax specialist Koenraad Tranchet is also part of Fiscaal Zondag. The personal income tax specialist is almost every year the first to discover errors in the data previously entered by the tax authorities. Errors that are expensive for you as a taxpayer if you cannot find them: the difference in your favor can amount to up to 6,000 euros. But even if the tax authorities don’t make mistakes, they often don’t complete the tax return in the most optimal way for your family. Koenraad leads the way there, too, with these five tips for optimizing his tax return.
The paper tax return must reach FPS Finance no later than Thursday, June 30. Those who complete them online will have extra time until July 15.
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