Tax deduct hardware store bills
Do you have an urgent need for renovation of your property or would you like to finally have the old carpet or laminate replaced by wooden floorboards? You may be able to deduct trade bills and bills from the hardware store from tax.
Tax deductible renovations
- You can deduct craftsman services from the tax for new buildings or as renovation costs for old buildings. This means that it can sometimes be worthwhile not to pave the driveway yourself, for example, but to have it professionally paved by a craftsman.
- Not only does this save you a lot of time and effort, but you can also be relatively sure that the job was done correctly. As a homeowner who lives in the property himself, you can claim up to 20 percent of the wage bill against tax. However, only up to a maximum amount of 1,200 euros.
100% deduct hardware store bills as advertising expenses when renting
- The materials that you buy yourself in the hardware store can only be deducted as a landlord in the sense of the advertising costs for a property necessary for the maintenance of a property. When filing your tax return, you can then contact the DIY store bills and possibly Simply submit and claim additional bills for craftsmen's wages. In any case, you should copy the hardware store invoices and submit them with them. In case of doubt, only after request from the tax office.
- Of course, you don't have to hire a craftsman, you can do the conversions or renovations yourself. However, it is important that it is clear that the material costs were actually incurred for the rented property and not for one that you live in.
In comparison: If you renovate a property you live in, then the material costs are part of the costs Your lifestyle. However, in this case you can still deduct the 20% for the labor costs of the craftsman.
Selling property purchase - noteworthy
Anyone looking to purchase a property should familiarize themselves with the subject of taxes at an early stage ...
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