Tax return checklist - as simple as it gets

I couldn't help but wonder: what reveals more about life - the tax return or the handbag...?

Designer clutch, tote bag, briefcase or shopper: perhaps one of the biggest mysteries is what women put in their bags. Well... it depends. There are a few essentials that every woman (and, honestly, every man) needs. But otherwise, the handbag adapts to your life. And you know what: it's the same with taxes. Our tax return checklist will help you to remember the most important things to pack.

So let's talk about what should not be missing in your tax bag and how you can keep track of it. Ideally all year round. 

Checklist for your tax return - or your handbag?

As tempting as it is to go out without a bag: You can't do much more than stroll without the most important things. It's similar with taxes. But not filing a tax return is anything but a walk in the park. Because in the Swiss tax system the tax return is essential for calculating your tax liability.

The tax office only knows your income and assets once you declare them. If you fail to do so, an estimate will be made - and this can be more expensive than necessary. So it's worth taking your tax return in your own hands, like a stylish clutch. 

The good thing is that you don't have to carry the burden of your tax return alone. You can download our tax return checklist here gather your documents accordingly and upload them again in encrypted form. You cangive us a call so we can find a solution together. Or you can read on to find out what a handbag really has in common with a tax return.

The essentials in every bag: wallet and keys

There are essentially two components that must be part of every tax return in Switzerland: income and assets - worldwide. Basically, these are our wallet and our keys, which we carry in every bag wherever we go.   

It sounds simple, but it can get complicated. The more cash you have in your wallet and the more keys you have on your key chain, the harder it gets to keep track of everything. Because yes: the holiday flat in the south of France and the American stock portfolio also have to be declared.

Tax return checklist: income and assets

This part of the tax return checklist includes, for example:

• All salary statements for the entire year

• The income statement for self-employed individuals

• Receipts for (rental) income (also from abroad!)

• Certificate of the tax value for Swiss properties

• Market value estimates for foreign properties

• Certificates of bank deposits, securities, etc. as of 31.12.

  
  

The exact documents required therefore depend on your income and assets. Our downloadable tax return checklist will help you to collect the most important documents. Or we can simply discuss your tax return together.

Other things you need - depending on your life path

‘Show me your bag and I'll tell you who you are!’ - that is actually true. Because whether it contains a full diary, a pacifier or a rubber: that does tell you a lot. Fortunately, the federal and state governments don't really take a look into your handbag. 

But the tax return allows at least as much of an insight into your life. In addition to income and assets, you should also submit expenses in order to reduce your tax burden. The best way to understand this is to look at a few examples:

1. Self-employed people are often travelling with a laptop bag or briefcase. In addition to income, they also have deductible expenses for simple bookkeeping.

2. Parents have a whole shopper full of things that children need, from nappies to colouring books. Kinds must also be declared on the tax return and a large part of the childcare costs can be deducted.

3. Preppers carry a larger backpack around with them, including tissues, tampons and the like. For example, payments into pillar 3a are also deductible.

4. Married couples share a handbag in Switzerland - they submit their tax returns together. Is that why men are constantly asking if there is still room in our bags?

5. Wealthy people have a lot to declare and hope for many deductions. But even if you keep your designer handbag as small as possible, not every luxury is deductible.

6. Adventurers may move to Switzerland in the middle of the year - or abroad. In addition to your luggage, you also need to think about filing a tax return mid-year.

   
   

Tax return checklist: expenses and deductions

Important in this part of the tax return are, for example

• Name, date of birth and place of residence of your children

• Childcare costs for working parents

• Maintenance costs for real estate

• Receipts for professional expenses, such as training costs

• Tax certificates for payments into pillar 3a

• Donations to non-profit organizations

You can find the entire tax return checklist here . We will be happy to find out together what you can deduct and what you can keep to yourself. As tax experts, we know best what really is important for your tax return.

Our tips: How to use the tax return checklist properly

Anyone who has ever searched through old handbags for something specific will know the problem: nothing is where you think it is. Likewise, it's important to keep your tax files organised. We have a few tips on how to turn your taxes into light luggage.

1. Keep things tidy - all year round

Many people are only overwhelmed with their tax return because they think about it too late. Keep things organised throughout the year and collect receipts as orderly as possible. Of course, there are better things to do in summer: relaxing at the beach club, for example. But ‘no shirt, no service’ also applies to taxes - no receipts, no deductions!

Tip: Reduce the stress by collecting receipts throughout the year, from educational costs to dentist bills.

2. Store everything correctly

The more you collect, the more confusing it becomes. But not keeping receipts is simply not an option. So what do we do with scarves and hats, for example, that we won't need again until winter? That's right: we put them where they belong! And you should do the same with your tax files. 

Tip: A shared digital filing system is ideal for married couples, for example. Each document should be scanned and filed directly, for example on Google Drive or Sharepoint.

3. Don't carry the burden alone

Even the most organised people get overwhelmed in the new year, when the yearly statements from banks, health insurance companies, employers and childcare providers arrive. By then at the latest, one thing is important to know: you don't have to carry this burden alone. Even the heaviest handbag has two handles - and we at taxum AG are happy to lend a hand.

Tip: Tax experts know tricks that non-experts don't even realise. It's worth getting help with your tax return.

Our checklist for your tax return

Even the most expensive luxury handbag can be frustrating if there is a mess inside. With our tax return checklist, you can bring light into the darkness. Simply download it, collect the document and upload them with our encrypted upload service. We will be happy to submit the tax return to the tax office for you. All we need is a scan of the tax forms or login details. But we are more than happy to discuss this in person. Because we are always at hand with a briefcase full of Swiss tax expertise.

And just like that, your tax return and your handbag suddenly feel much lighter...