Save taxes thanks to a professionally completed tax return
Is is not difficult to fill out a tax return, you've probably already done it yourself. So why spend money on it?
The answer to this question is simple: tax optimization. By outsourcing the task to a tax consultant, you benefit from the expertise of a professional who has hands-on experience in the field of tax. Instructing a tax advisor with filing your taxes is similar to hiring any other professional in an area you are not familiar with. When building a new kitchen, for example, you will usually hire designers and craftsmen because you expect a better result than if you do it yourself. The same goes for outsourcing your tax return to a tax consultant. Ideally, having your taxes filled out by a professional tax consultant will result in the lowest tax liability possible.
Since the amount of taxes you pay depends largely on your assets, your income, and the deductions possible, we will briefly discuss these topics below.
Assets are made up of valuables such as cash, bank accounts, salary accounts, securities, real estate, art collections and private loans. Overall, assets thus represent the summed value of your possessions
Income includes, for example, wage payments from self-employment or employment, dividend payments from stocks, rental payments from real estate, or lottery winnings. As a whole, income covers all cash inflows that you have earned within a tax period.
Deductions are reductions of your taxable income. These are added together and then subtracted from your income. In the Swiss tax system there are various possible deductions which depend on a series of different factors such as marital status, children or line of work.
The aim of a tax advisor is to ensure that you declare as few assets and as little income as legally possible, while at the same time maximizing permissable deductions.
Since there are many different types of deductions which can be difficult to understand and change overtime it is worth having a professional take care of it. A competent tax advisor ensures that you make all possible deductions and will also actively engage in conversation with you about tax-related issues as well as your financial situation.
In addition, there are several non-monetary incentives to take into consideration. By hiring a tax consultant you not only save money but also a significant amount of time which allows you to take care of other things.
Think of Roger Federer, for example. He could certainly fill out his tax return himself, but it is more beneficial for him if he hires a tax consultant to do it and trains for Wimbledon in the meantime.
For more detailed information on how to save taxes, click on the following link: Save Taxes.