Wednesday, January 26, 2011

Ratings: making the accident costs for tax purposes

Especially in winter there are many weather-related accidents. Usually engages in foreign damage the motor vehicle liability insurance. For bumps and scratches to your own vehicle is - if any - the insurance charge. But help has come not only from the car insurance. In certain cases, but the Tax Office help to mitigate the damage.

Warns the Society for Technical Supervision (GTÜ) out. The tax offer, according to the Stuttgart test and expert organization in the following cases, financial assistance to: Construction workers on the way to work in a trip home in the second household, or a professional driving in an accident or are involved in a, they can that the cost of the tax office as a business expense to make tax deductible.

For a journey between home and work or a trip home, the costs incurred by the damage to be deducted in addition to traveling allowance. This includes in particular the cost of repair of the host vehicle and of the other party, but also expert costs, damages, court costs and attorney's fees to the extent not paid from a third party, such as by the general liability or comprehensive insurance or injury).

Jump to full insurance is one that only the excess deductible. If the car is not repaired, instead of costs, impairment may be claimed. This assumes that the useful life of the vehicle has not yet expired. The following repair any remaining bad sales as a car accident the other hand, can not be considered.

The result of the accident in increased contributions to civil liability and hull insurance (here, the excess amount), however, may be invoked as a limited-deductible special expenses. Has the accident happened on a business trip or trips of workers with varying work sites, not only the costs are deductible, but the employer can replace the incidental expenses of the employee tax free in full as travel costs.

However, these rules apply only if it is not already made any payment from, the standards authority. (Ampnet / jri)




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