deductions with school supplies, is it possible?

Will you declare Income Tax (IR) this year? So see what you can and cannot deduct before submitting your statement!

Did you know that it is possible to deduct expenses for school supplies from your Income Tax? In this article, we will explore this opportunity and provide essential information so that you can make the most of the tax benefits related to Income Tax (IR).

This process is important even before you submit your declaration, so there will be no errors and, consequently, no need to review the document. So keep reading to find out how to save money when filing your Income Tax.

IR is eagerly awaited by Brazilians who need to declare it every year, but do you know which options are possible to deduct? Understand! / Credit: @jeanedeoliveirafotografia /

The deduction of school supplies in Income Tax

At first, it is important to understand that deducting school supplies from Income Tax is a real possibility for many taxpayers. This deduction aims to ease the burden of school expenses by providing some financial relief during the tax filing process.

Who can deduct school supplies?

The Income Tax deduction for school supplies is available to those who opt for the complete tax declaration model. Therefore, if you use the simplified model, you will not be able to take advantage of this tax advantage. Make sure you choose the correct template when filling out your return.

What school supplies expenses can be deducted?

Furthermore, it is important to consider that expenses for school supplies that are deductible from Income Tax include items such as textbooks, school uniforms, office supplies and even the purchase of a computer, as long as it is necessary for the student’s education.

Keep receipts in order

To ensure you are in compliance with Income Tax rules and can take advantage of the school supplies deduction, it is essential to keep all proof of purchases and education-related expenses. This includes invoices, receipts and documents proving the expenses incurred.

Taking advantage of Income Tax deductions: save more than you imagine!

In addition to deducting school supplies, Income Tax offers several other ways to reduce your tax base, providing financial savings. Here are some of the top deductions you can take advantage of:

Medical expenses: expenses with doctors, dentists, exams, hospitalizations and other health services can be deducted, as long as they are within the limits established by the Federal Revenue Service; and higher can also be deducted, as long as they meet the legal requirements; Alimony: anyone who pays alimony to dependents can deduct this amount in full from Income Tax, as long as it complies with the legislation; Social and private security: contributions to Social security (INSS) and private pension plans can be deducted, as long as they are within the stipulated limits;Deduction with dependents: each declared dependent can generate a specific deduction, reducing the Income Tax calculation basis;Deduction with Cash Book ( independent professionals): Self-employed professionals can deduct expenses related to their activity, such as office rental, work materials and other necessary costs; Deduction with donations: donations to philanthropic entities, cultural and sporting projects, as well as the Children and Adolescence Fund (FIA) can also be deducted.

Deductions that are not possible on IR

Although Income Tax offers several deduction opportunities, it is important to be aware that some expenses cannot be deducted from the declaration. It is essential to understand these limitations to avoid problems with the IRS and ensure that your declaration complies with current legislation. See some of the deductions that are not allowed:

Personal expenses: day-to-day expenses, such as food, clothing, transportation and leisure, cannot be deducted from Income Tax, regardless of how essential they may be; Purchases of consumer goods: the acquisition of consumer goods, such as cars, household appliances and electronics, is not eligible for deduction in Income Tax, unless it falls into a specific deduction category, such as medical expenses; Travel and leisure: expenses on vacation travel, hotel accommodation and entertainment are not deductible, even related to work activities; Debt repayment expenses: payments on personal debts, such as car loans or credit cards, cannot be deducted from Income Tax; Interest and fines on personal debts: interest and fines on personal debts, such as late payments on water and electricity bills, are not eligible for deduction.

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