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Save taxes quickly at the end of the year

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If you still want to save taxes at the end of the year, you should concentrate on subsidized old-age provision. Experts from Universa Versicherung explain how you can reduce your own tax expenses with a one-off special payment in an existing Riester and Rürup pension.

However, consumers have to observe limits here. Contributions to the Riester pension up to a maximum of 2,100 euros per person can be claimed as special expenses for income tax. There is also a cheaper check. Especially for families with children, this can mean that the tax savings are lower or even completely due to the state allowances granted.

90 percent of the contributions for the Rürup pension can be deducted from tax

For the Rürup pension, 90 percent of the contributions can be assessed for tax purposes this year. The special expenses allowance for 2020 is limited to 25,046 euros (married 50,092 euros). This also includes contributions to statutory pension insurance, professional pension schemes and agricultural pension schemes. Nevertheless, most taxpayers still have enough leeway here for a special tax payment, say the insurance experts.

Author (at): Versicherungsmagazin.de

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