2023-06-03 05:00:00
The end of the tax reporting period is now imminent. The final deadline is set for Thursday, June 8 at midnight, for the departments numbered 54 to 976. After this deadline, taxpayers expose themselves to sanctions from the tax authorities, starting with a 10% increase in the tax. ‘income tax. Tax households, which declare online, have a major advantage. At the end of the form, they have access to the notice of declarative situation of income tax (ASDIR) which gives them an idea of what they will pay this year.
This document summarizes, in fact, the information provided in the tax return: marital status, address, family quotient, income, tax advantages, etc. In view of these, it establishes the total amount of income tax for which the tax household is liable, a priori, for the tax year (therefore in 2022). Then, he subtracts this amount from the source deductions made last year. Objective, to determine if the household must pay an income tax balance in September 2023. At the end of the second page of the ASDIR PDF document generated by the tax authorities, the line “TOTAL OF YOUR NET TAX REMAINING TO PAY” indicates to the taxpayer if he is indeed in this situation. In which case, he will have to pay the balance in September 2023, the direct debit being made in four monthly installments above 300 euros.
Indeed, when the taxpayer does not anticipate a change in his situation (family or income), his withholding tax rate is not adjusted. In fact, he may be liable for a high income tax balance at the start of the school year, straining his budget sometimes until the end of the year. In principle, unless an error is noted in the declaration, on the part of the taxpayer or the tax administration, there is little chance of succeeding in reducing his income tax for the tax year 2022. On the other hand, there is is still possible to act on the current year. And therefore, to anticipate the 2024 tax return by reducing your taxes now. Here are some levers to activate without delay, and this, until the end of the year 2023. But be careful not to exceed the mechanism for capping tax niches: the amount of the tax reduction obtained thanks to the tax advantages may exceed 10,000 euros.
Put your expense reports aside
The process can seem painful and tedious. However, it allows in fine to declare their professional expenses for their real amount, and thus, to benefit from a tax deduction higher than that applied by default by the tax authorities, representing 10% of income. As an indication, the amount of the flat-rate deduction amounts to at least 472 euros for each member of the tax household in 2023. The ceiling is set at 13,522 euros. An equivalent amount should be applied for the year 2024.
The summer period can thus be an opportunity to take stock of your professional expenses: transport, meals, teleworking, telephone and computer equipment, professional documentation, double residence costs, etc. To do this, it is necessary to make a summary of the first months of the year 2023, and to get hold of the expense reports to keep them preciously, in a dedicated binder for example. As a reminder, the taxpayer must be able to produce all the supporting documents in the event of a tax audit, which may take place within three years of the declaration.
Forbidding? Tax households whose members are required to incur significant costs in respect of their professional activity (VRP and sales representatives, for example) have every interest in calculating their actual costs, when they are not borne by the employer. If only to check that the amount obtained exceeds the ceiling of the flat-rate deduction of 10%.
Investing for retirement, whatever your age
The reform having been adopted, and the parliamentary battle continuing, retirement remains at the heart of the news. As a reminder, the government has decided to push back the legal age of departure, from 62 to 64 years old. Registered within the framework of the Pacte law, the retirement savings plan – bringing together the individual, company, collective and mandatory PER, and replacing the traditional Perco, Madelin and Perp – allows you to invest (euro funds, unit-linked …) throughout working life, with the key to an exit in annuity or capital.
Contributions paid into a retirement savings product, on a voluntary basis, on an individual basis can be deducted from overall net income. ” The sums paid during a year are deductible from the taxable income of the year concerned, within the limit of a ceiling fixed for each member of the tax household.we recall on the site Service public. The limit available for contributions paid in 2023 is indicated on your 2022 tax notice. »
To get an idea of the ceiling, the taxpayer can already consult his notice of income tax declaration situation, which includes an estimate of this ceiling, with regard to the items declared in the spring of 2023. Note: when the ceiling has not been used, or only partially, it can be carried over to the following three years. What significantly reduce its net taxable income.
Investing in the real economy
The subscription to the capital of an SME (small and medium-sized enterprise, less than 250 people) via the deposit of a sum of money, allows, under conditions, to benefit from a tax reduction. The subscriber must be a natural person, reside in France and must undertake to keep the securities received for 5 years. The SME must exist for less than seven years and be subject to corporation tax, in particular.
« For payments made from March 12 to December 31, 2023, the amount of the tax reduction is equal to 25% of the payments made for subscriptions to the capital of an SMErecalls the site Service public. For payments made outside this period, the rate is set at 18%. »
Note, subscription to a film or audiovisual financing company (Sofica) allows you to benefit from a tax reduction, within the limit of an investment of 25% of the total net income and 18,000 euros per year. (the device is not subject to the same restrictions as the capping of tax loopholes). The same ceiling is applied for investments made overseas, via the device of the Girardin law.
Make donations, within a certain limit
It’s time to show generosity until the end of the year. Donations are eligible for a tax reduction. Those made for organizations of general interest make it possible to benefit from a tax advantage of 66% of the amount of the donations, within the limit of 20% of the taxable income. It even reaches 75% for donations up to 1,000 euros for the benefit of associations helping people in difficulty and 66% beyond this amount. Considered as recurring expenses in the eyes of the tax authorities, donations are subject to the payment of an advance of 60% in mid-January, then 40% in the summer.
Donations made to political parties may not exceed 7,500 euros per person, and 15,000 euros per year and per tax household. Please note: donations cannot exceed 4,600 euros per election. In order not to forget to mention all donations, taxpayers must ensure that they keep the annual tax statement provided by the organization. This document guarantees that the latter has received an amount for the tax year, as well as the form and nature of the donation. It must be kept in the event of a tax audit.
Engage in home improvement work
An elderly or disabled spouse or parent, the prospect of reselling a property… There are many reasons that can lead a taxpayer to undertake work to equip their home. Under certain conditions, they are eligible for a tax credit (25% of expenses incurred within the limit of 5,000 euros for a single person and 10,000 euros for a couple). Here are a few examples of eligible work:
- Sinks and basins with adjustable height
- Wall-mounted shower seats
- Raised toilets
- Handrails
- Handrails or support bars
The work must be carried out before December 31, 2023.
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