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How to file the 2023 Income Tax return and pay less: the tricks that experts recommend

Date: July 13, 2024 Time: 19:45:54

In full Income Campaign 2024a period that began last April 3 and will last until July 1, the Registry of Tax Advisory Economists (REAF) has not missed his appointment with the taxpayer and has just presented his recommendations for all those who still have to process the Income tax return 2023. If you have doubts about downloading and submitting your draft to the Tax Agency, these 22 recommendations will help you receive more money, pay less and avoid the dreaded Parallels of the Treasury.-It is important review tax data informed by the Tax Agency before confirming the draft declaration. Special attention should be paid to personal and family circumstances, marital status, birth and number of children, and place of residence, especially if they have changed during the year 2023.-You should also check if you are obligated or not To file the tax return. This will depend on the type of income you receive and its amount. For example, if you receive income from work, you will be obliged to declare if you collect more than €22,000 gross from a single payer, or more than €15,000 if the income comes from several payers, unless the sum of the income obtained by the second payer . and the remainder, per quantity order, do not collectively exceed €1,500. people holding the minimum vital income and the members of the cohabitation unit are always required to present the declaration, even if said income is exempt. If the Administration has paid you late payment interest When making a return of undue income, they must be taxed on them as they constitute a capital gain that is taxed in the general income. If it is joint owner of a bank account with another person and you do not generate the income that feeds the balance of that account, you do not impute any income from the movable capital, regardless of whether in the tax data the Administration attributes half of the income to each owner.pass the statements from previous years with an impact on 2023, paying attention, for example, to capital losses, negative capital gains and negative liquidated bases pending from the last four years, because you will be able to save approximately two to reduce the installment to be paid in this .Yeah has suffered an unfair dismissal in 2023, and the compensation does not exceed what is stipulated in the Workers’ Statute, in principle, the compensation received, up to €180,000, will be exempt, but be careful because this will not be the case if it can be seen that there has been an agreement between the company and the worker. If 2023 he sold his habitual residence, know that the capital gain may be exempt if the import obtained in the purchase of a new primary home is reinvested. If you have not yet bought a new home, but you intend to do so, do not forget that you have 2 years to reinvest and that you must, in your declaration this year, indicate your commitment to acquire a new home within said period, for benefit purposes. . of the exemption. The cost of the new home can be covered with external financing. taxpayers 65 or older Those who have transferred their habitual residence in 2023 generating a capital gain will not have to pay taxes on it without the need to reinvest. If you are married in common law and only one of the spouses has reached the age of 65, you will be taxed on half of the benefit, although some Courts of Justice understand that it is not taxed if, at least, one of the two spouses is 65 years old. 2023 have perceived delays –income from a previous tax period for justified reasons not attributable to the worker–, you must present a complementary declaration for the year in which those arrears were payable. Said declaration must be submitted within the period between the date of receipt of these returns and July 1, 2024, without penalties or surcharges. If during 2023 you had to move your residence to another municipality for work reasons, an additional expense of 2,000 euros may apply for geographical mobility. It is necessary that before accepting the job that motivates the change of residence, the taxpayer was unemployed and registered in the employment office. Remember to deduct as an expense the fees paid to unions and professional associationsin the event that membership is mandatory for the exercise of your profession. amortization of movable property transferred together with the leased property, such as furniture, installations, fixtures and other immobilized material, may be carried out by applying a rate between 10% per year or the result of the maximum useful life, 20 years (5%). . Do not forget to have the documents that prove said acquisitions. Remember that, if your tenant destined the property for habitual residence, you may apply a 60% reduction to the income received, but do not forget that the reduction will only be applicable with respect to the income declared by the taxpayer. That is, if you do not declare the rents voluntarily and, later, the Administration regularizes it, you will not be able to apply the reduction. separated or divorced spouse who continues to be the owner of the home inhabited by the other spouse and their children must not allocate real estate income for it. Additionally, if you acquired it before 2013 and continue paying the mortgage loan, you will be able to deduct for your primary residence. import maximum of the contributions to the taxpayer’s own social security systems cannot exceed the lower of the following limits: 30% of the sum of net income from work and economic activities or 1,500 euros. This limit will increase by 8,500 euros, provided that such increase comes from business contributions. The reducible contributions of the beneficiaries are limited to 4,250 euros. self-employed to employment plans simplified (apart from the reduction of €1,500 for contributions to individual plans) or contributions to employment pension plans of which you are a promoter and participant – also to Mutual Companies of which you are a mutual member or to corporate social security plans or collective insurance plans. dependence on those who are the policyholder and insured. A deduction of 15% of the value of purchase of an electric vehiclewith the limit of €20,000, when the purchase occurs between June 30, 2023 and December 31, 2024, although the application of the deduction is also contemplated in the case of deliveries on account within said period and under certain conditions. A deduction of 15% is also introduced, with a maximum base of 4,000 euros, of the cost paid for the installation, within the same previous period, of security systems. battery recharges for electric vehicles. If you have made improvement works of energy efficiency in your home, or in a rented home that constitutes the tenant’s habitual residence, 3 deductions may be applied – not simultaneously – as long as certain requirements are met. Do not forget that to apply these deductions you must have two energy efficiency certificates – issued by a professional – one dated prior to the work and another dated after it. deceased taxpayersThe heirs must take into account that they must include all the income that they have pending to allocate, such as the part of the profits from term operations or the aid that is allocated, in a fractional manner, over 4 years. Consider the option for joint or individual taxation, according to your personal and family circumstances. Remember that spouses who have their habitual residence in different autonomous communities and choose to pay taxes jointly will file the declaration in the community where the member with the largest tax base has his or her habitual residence.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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