{"id":27090,"date":"2024-11-11T12:00:00","date_gmt":"2024-11-11T11:00:00","guid":{"rendered":"https:\/\/fasnetwork.com\/?p=27090"},"modified":"2026-10-09T09:45:26","modified_gmt":"2026-10-09T07:45:26","slug":"tax-saving-tips-for-entrepreneurs-2024","status":"publish","type":"post","link":"https:\/\/fasnetwork.com\/en\/tax-saving-tips-for-entrepreneurs-2024\/","title":{"rendered":"Tax-Saving tips for entrepreneurs 2024"},"content":{"rendered":"\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<p class=\"wp-block-paragraph\">In order to make your business tax fit before the end of the year 2024, we would like to draw your attention in right time to some of the tax saving opportunities that you can take advantage of, which are worth checking at the turn of each year. <\/p>\n\n<p class=\"wp-block-paragraph\">To provide the right incentive, we have summarized some tax saving tips that may be relevant to you:<\/p>\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>Tax savings by bringing forward expenses and deferring income<\/strong><br\/>Users of the income-expenditure calculation (EAR) can manage their income by bringing forward their expenditure (advances, for example: advance payments for the purchase of goods) and through delay of revenues. However, it should be noted that regularly occurring income and expenses paid 15 days before or after the end of the year should be credited to the year to which they economically related. <\/li>\n\n\n\n<li><strong>Additional payments to SVS (formerly GSVG)<\/strong><br\/>The tax authorities recognize an advance payment for EAR if it corresponds to the amount of the expected additional payments for the year in question. This means that if an additional payment is expected in 2025 for the year 2024, the advance payment can already be made in 2024. Consequently, the profit in 2024 would be reduced.  <\/li>\n\n\n\n<li><strong>Business donations<\/strong><br\/>Donations from business assets are deductible as business expenses up to 10% of the current year&#8217;s profit and thus reduce the income tax base.<br\/>Donations exceeding this amount can be deducted as special expenses (Sonderausgaben). The recipients of the donations must appear on the BMF list on the actual donation day. <\/li>\n\n\n\n<li><strong>Gewinnfreibetrag &#8211; Investieren Sie noch 2024<\/strong><br>Bis zu einem Gewinn von 33.000,00 \u20ac erhalten Sie ohne Investition schon den Grundfreibetrag von 15%. \u00dcbersteigt der Gewinn 33.000,00 \u20ac so steht der Grundfreibetrag nur insoweit zu, wenn dieser durch Anschaffungs- oder Herstellungskosten bestimmter beg\u00fcnstigter Wirtschaftsg\u00fcter gedeckt ist.<br>Abh\u00e4ngig vom steuerlich zu erwartenden Gewinn des Jahres 2024, sollte die Investition in beg\u00fcnstigte Wirtschaftsg\u00fcter (K\u00f6rperliche, abnutzbare Anlageg\u00fcter mit einer betriebsgew\u00f6hnlichen Nutzungsdauer von mindestens vier Jahren oder Wertpapiere im Sinne des \u00a7 14 Abs 7 Z 4 Einkommensteuergesetz, wenn sie ab der Anschaffung mindestens vier Jahre dem Betrieb gewidmet werden) vor dem Jahresende ins Auge gefasst werden. F\u00fcr Wirtschaftsg\u00fcter, die zur Deckung des Gewinnfreibetrages herangezogen werden, kann kein IFB geltend gemacht werden.<br>Es gilt eine Behaltefrist von mind. 4 Jahren, das ist auch bei Betriebsver\u00e4u\u00dferung oder der Pensionsplanung zu beachten.<br><br>Der investitionsbedingte Gewinnfreibetrag betr\u00e4gt:&nbsp;\n<ul class=\"wp-block-list\">\n<li>13% up to a profit of 178,000 Euro<\/li>\n\n\n\n<li>7% for the profit share between 178.000 and 353.000 Euro <\/li>\n\n\n\n<li>4,5% for the profit share between 353.000 and 583.000 Euro <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n<p class=\"wp-block-paragraph\"><strong>Tip:<\/strong> A forecast calculation for the year 2024 can be used to determine the tax-optimized amount of investments required. We are ready to assist you in this matter! <\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>The new investment allowance from 1.1.2023 (IFB)<\/strong><br\/>In addition to depreciation, there is an investment allowance amounting to 10% of the acquisition or production costs of depreciable fixed assets that are deductible as operating expenses. For assets in the greening sector, the investment allowance is increased by 5% and thus amounts to 15%. The investment allowance can only be claimed for assets with a useful life of at least 4 years. The other requirement is that the business income is not calculated on a flat-rate basis.   <br><br>The investment allowance cannot be claimed for the following assets:\n<ul class=\"wp-block-list\">\n<li>assets for which the investment-related profit allowance is claimed.<\/li>\n\n\n\n<li>assets for which due to the wear-out a special form of depreciation is applicable in accordance with \u00a7 8 the Income Tax Act, with the exemption of motor vehicles with a CO2 emission value of 0 grams per kilometer (e.g. building depreciation)<\/li>\n\n\n\n<li>low-value assets<\/li>\n\n\n\n<li>intangible assets (except in the areas of digitalization, greening and health\/life science)<\/li>\n\n\n\n<li>used assets<\/li>\n\n\n\n<li>assets used for the extraction, transport or storage of fossil fuels (ordinance authorization)<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Limit for low-value assets EUR 1,000.00<br\/>If an asset is acquired by December 31, 2024 at the latest and the acquisition value does not exceed (net) EUR 1,000.00, it may be fully depreciated in the same year. Attention: in this case the asset cannot be taken into account as a preferential asset for the purposes of the profit allowance. <\/li>\n\n\n\n<li><strong>A half-year depreciation for investments made shortly before the end of the year<\/strong><br\/>A depreciation for wear and tear can be claimed from the date of the initial use.<br\/>If the occupation of the new asset still takes place short before December 31, 2024, a half-year depreciation is allowed (even if the payment is not made until 2025).<\/li>\n\n\n\n<li><strong>Degressive depreciation<\/strong><br\/>For certain assets acquired or manufactured after June 30, 2020, depreciation can be applied at an unchangeable percentage of up to 30% of the book value. In case of acquiring in the 2nd half of the year, generally the half-year rate (max 15%) is applicable. The degressive method of depreciation leads to liquidation advantages for assets with longer economic lives.  <\/li>\n\n\n\n<li><strong>Home office for the self-employed: Workplace allowance<\/strong><br\/>Since 2022, self-employed persons can claim an allowance of up to \u20ac 1,200.00 per year as business expenses for electricity, heating, depreciation for wear and tear of fixed assets, etc., if another room is not already available for carrying out their self-employed activities. In addition, the workplace allowance can also be claimed when applying a basic or the small company flat-rate tax opportunities; however, it does not apply solely to a working room! During preparing your annual financial statement, we are ready to check individually whether such an allowance is available for you.  <\/li>\n\n\n\n<li><strong>Annual season ticket for self-employed persons \/ travel expenses<\/strong><br\/>Self-employed persons can deduct 50% of their expenses for weekly, monthly and annual season-tickets for mass transportation as flat-rate business expenses and thus save taxes, provided that the ticket is also used for business trips. This deduction is also available to those who claim the basic flat-rate taxation (e.g. managing directors). <\/li>\n\n\n\n<li><strong>Accelerated depreciation for buildings (business and private assets)<\/strong><br\/>Accelerated depreciation is available for buildings acquired or constructed after June 30, 2020. While the general depreciation rate for residential buildings is currently 2.5% and 1.5%, it is now possible to claim depreciation up to three times the current percentage (i.e. 7.5% and 4.5%) and then up to twice the current rate (5% and 3%) for the following year. From the second following year, the original % rates apply again. However, the half-yearly depreciation rule cannot be applied in this case.  <\/li>\n<\/ul>\n\n<p class=\"wp-block-paragraph\">We would be glad to help you with all important questions in person or online so that you are able to claim the tax benefits.<\/p>\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In order to make your business tax fit before the end of the year 2024, we would like to draw your attention in right time to some of the tax&hellip;<\/p>\n","protected":false},"author":6,"featured_media":27097,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-27090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fas-network"],"_links":{"self":[{"href":"https:\/\/fasnetwork.com\/en\/wp-json\/wp\/v2\/posts\/27090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fasnetwork.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fasnetwork.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fasnetwork.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/fasnetwork.com\/en\/wp-json\/wp\/v2\/comments?post=27090"}],"version-history":[{"count":9,"href":"https:\/\/fasnetwork.com\/en\/wp-json\/wp\/v2\/posts\/27090\/revisions"}],"predecessor-version":[{"id":28036,"href":"https:\/\/fasnetwork.com\/en\/wp-json\/wp\/v2\/posts\/27090\/revisions\/28036"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fasnetwork.com\/en\/wp-json\/wp\/v2\/media\/27097"}],"wp:attachment":[{"href":"https:\/\/fasnetwork.com\/en\/wp-json\/wp\/v2\/media?parent=27090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fasnetwork.com\/en\/wp-json\/wp\/v2\/categories?post=27090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fasnetwork.com\/en\/wp-json\/wp\/v2\/tags?post=27090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}