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Pay Less on Your Income Statement Thanks for the Deduction

deductions – which represent a price reduction Permitted by law- Required when making personal income tax return. It should be…

By admin , in news , at May 24, 2022

deductions – which represent a price reduction Permitted by law- Required when making personal income tax return. It should be kept in mind that they are applicable only if the taxpayer collects especially In the draft, it is therefore important to include them in order to take advantage of them, and therefore pay less fees.

self employment deduction

Income from economic activities – for which self-employment is cited – is many. expenses that are deductible, As per the current regulation, self-employed employees can deduct all expenses essential For the performance of professional or economic activity.

For example, if you have a house and work from it, property expenditure income can be reduced. Similarly, partial influence of divisible elements is also possible, such as the office in the house from which Practice economic activity.

In order to deduct expenses, it is necessary that they are accounted for and that invoice Accordingly. Thus, while making the declaration, these expenses will be deducted from the income. In addition, Article 14 of the personal income tax law states that fines, personal income tax expenses, or gambling debts,


On the other hand, the return on real estate capital—which is derived from being a rental landlord—can be deductible. all necessary expenses to get performance. This includes principal interest (eg mortgage), repair, maintenance and investment expenses (when they are for repairs and maintenance, all expenses are deductible, whereas if they account for only 3% investment), tax (all Ibi deductible), the amount earned by porters, or the insurance premium.

Similarly, in the event that the property is taken on rent as long-term accommodation, the yield received has decreased by 60%,

motherhood and the big family

Mothers who have children under the age of three are entitled to a €1,200 deduction (100 per month) when they meet two conditions: that the family minimum descendants can apply, and that the parent works as a salaried employee or as a self-employed and the relevant social security or mutual are registered in the insurance plan.

Similarly, taxpayers who are part of a common large family (with three or more children), a deduction of €1,200 per year may be applied, which is equivalent to €100 per month. On the other hand, if the larger family belongs to a special category (with 5 or more children), the amount is doubled and the amount is 2.400€ annual.

other deduction

Article 68 of the IRPF Act collects three other deductionsDeductions for investments in a primary residence, deductions for donations and other contributions, and deductions for investments in new or recently formed companies.

In the first case, for investment in a habitual residence, all amounts paid for a habitual residence can be deducted. Acquired before 1 January 2013, and that they continue to be paid in the current financial year. Thus, everything paid for this concept is deductible with a ceiling of 15% 9.040 euro,

For its part, in deductions for charities and other contributions—aimed at promoting the funding of foundations or nonprofits—a 10% reduction Amounts donated to legally recognized entities, or associations declared to be public utilities. For its part, a deduction of 20% of the membership fee and contribution also applies to political partiesAssociations, alliances, or groups of voters.

In respect of newly created companies, it is possible to apply 30% deduction What contributions are made to these entities when a series of requirements are met, such as a limit of 60,000 euros. Similarly, there is a deduction for international double taxation, through which the taxpayer decrease retention Income earned abroad.

regional deduction

In addition, each autonomous community is governed by its own rules- cut in various casesYes For example, in Disability, Cantabria gives a deduction of 15% of the amount donated to associations that pursue the support of people with disabilities among their goals, or Aragon’s deduction 200 € For every child born or adopted with a degree of disability equal to or greater than 33%.

Pay Less on Your Income Statement Thanks for the Deduction

2022-05-24 08:36:17