What types of insurance can I deduct from my tax?
The answer to the question of which insurance can be deducted from tax arises from the regulations in income tax law. In principle, the expenses for insurance can be claimed as special expenses. However, this is only possible up to certain maximum limits.
When a tax return is submitted, the question about tax arises very often Deductibility from contributions to an occupational disability insurance or Accident insurance on.
These insurances can be deducted from taxes
- In principle, insurance contributions are part of the limited deductible special expenses. However, the legislature differentiates between pension expenses and property insurance. Which insurance can be deducted from the tax depends on whether they are included in the pension costs.
- Even if property insurance is normally not deductible as part of the special expenses, work-related Contribution shares (accident insurance on business trips or labor legal protection) within the scope of income-related expenses are tax-deductible be made.
- Contributions for statutory and private insurances that serve as a precaution (insurance against life risks Death, accident, illness, liability claims of third parties) can be deducted from the tax as precautionary expenses drop.
- If you want to deduct insurance contributions from tax, you can do so up to a limit of EUR 1,900 (employee).
"Which insurance can I deduct from my tax?" - The self-employed should be aware of that
Private individuals and the self-employed require very different ...
Disability insurance - the role of a contribution payment in the tax return
- In general, you can claim the contributions for an occupational disability insurance against tax.
- You have the option of doing this within the framework of the special expenses deduction. However, the contributions of all other pension insurances are added together.
- When an amount is reached, you as an employee no longer have tax deductibility at 1,900 euros. In many cases you will reach this limit with the contribution payments for your health and statutory long-term care insurance.
- All other contribution payments, including the expenses for an occupational disability insurance, fall under private expenses, so to speak.
- For the self-employed, different rules apply with regard to the deduction of contributions to occupational disability insurance. As a married person, you may be able to claim over 9,000 euros for contributions.
If you submit tax returns retrospectively, you may get different answers when asked which insurance policies you can deduct. Therefore, find out about the regulations that apply to the tax year in question.
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