Are you always in doubt when it comes time to deal with your taxes? Know what expenses count for the IRS.
Even if you always ask for invoices with a tax number, it’s important to realize that not all of them will go into the IRS accounts. And that some expenses are more important than others.
That’s a whole year of expenses, which means a lot of validated invoices. However, it is not always easy to understand which expenses can help pay less IRS or increase the reimbursement amount.
In addition, you need to know that, of the amounts you have spent, only a part is taken into account for tax purposes. Among the expenses that count towards the deductions, there are still different limits for each category.
When adding up your expenses, it’s important to know the rules for each category. Do you know, for example, that you need a medical prescription to be able to include pharmacy bills in your health where VAT is 23%?
And what about your children’s school supplies? Account or not to the IRS? Expenses with rented properties or interest on mortgage loans (if you bought a house before 2012) can also lower the tax to be paid.
In the accounts relating to this tax, it is also necessary to consider the costs for which part of the VAT can be deducted. For example, with restaurants, hairdressers, workshops, gyms, veterinary expenses or public transport, among others.
No need to forget any expenses. Understand everything simply and quickly in this video of the Positive Balance.
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