Not everyone knows that there is an opportunity to return the money that was given to the state as taxes, or not to pay part of it. All working citizens can apply for this. To do this, get a tax deduction.
Classification
Often a person receives only 87% of what he earns, and 13% is paid by the employer as a tax (personal income tax or income tax). This part can be returned in some cases legally. For example, when buying real estate, expenses for treatment, training.
The tax deduction may be:
- Standard.
- Social.
- property.
- For securities.
- Professional.
Standard deductions are granted under certain conditions. For example, if a person’s income is not more than a certain amount, he has children.
Social deductions are given when expenses related to training or treatment have been made.
The third type is available when the taxpayer has sold any property or bought real estate. By the way, with a mortgage, people can return the interest on the loan.
Securities shall be deductible if losses have been incurred in financial transactions with them.
Some categories of people can expect a professional tax deduction. These may be, for example, authors of literary works.
How to calculate?The value of this amount leads to a decrease in the tax base, which is the amount of funds from which tax withholding occurs. It is possible to receive from your state not the entire tax deduction, but 13% of it. There is a limitation. It says that there is no way to get more than the taxes paid. For example, 13% of the amount of 1000 rubles is 130 rubles. A person can receive such money only if he paid so many taxes for a year. There is still some maximum deduction established by law. When purchasing housing, for example, by 2 million 100 thousand rubles, this amount cannot exceed 13%, and this is 273 thousand rubles. Only taxes that were paid at the indicated rate are allowed to be returned.
If we consider the standard tax deductions for personal income tax, for example, in 2013, then they are the same as those that were in 2012.
Some examples
A deduction of 3 thousand rubles, for example, is given to the following citizens:
- Disabled WWII.
- To participants in tests related to radioactive elements and nuclear weapons.
- Military personnel affected by the defense of the country.
- To participants in the elimination of the consequences of Chernobyl who received various diseases.
The size of tax deductions for children in the current year also did not change compared to the previous year. They can get them:
- Parents (adoptive or family).
- Guardians, adoptive parents, trustees.
- Spouses of parents.
Single parents have the opportunity to receive a double deduction. The current income limit for an employee is 280 thousand rubles.
To receive a deduction for children, provide your employer with the following documents:
- Application for the established model.
- Copies of the birth certificates of their children.
- Help (this is a form of 2-personal income tax) for the year.
- Documents on the child's disability (if any).
- Inquiries from places of study of children.
If for some reason the deductions were not provided, then you can get them for the next year. Transfer all documents to the tax office, you will still need a declaration for the previous year (we are talking about form 3-NDFL).
There are many different deductions, find out about everyone to understand what you can claim.