Will you declare Income Tax in 2024? Check out 5 tips to INCREASE the refund amount

The 2024 Income Tax declaration season is approaching. Those who have this obligation can benefit from the increased refund.

Declaration of Income Tax 2024 is an obligation for thousands of Brazilians who, once again, see the delivery deadline approaching.

Fortunately, not all the news is negative. After all, even if there is an obligation to pay, there is still a chance of receiving an amount back, which is a refund.

In this sense, if you want to know more about this benefit and how to make the value return even greater, continue following the text below.

The 2024 Income Tax declaration is coming. See how to earn more on your refund! / Credit: @jeanedeoliveirafotografia / pronatec.pro.br

When is the 2024 Income Tax declaration due?

As the 2024 Income Tax filing period approaches, starting March 15th and extending until May 31st, there is an opportunity to organize your finances and possibly increase your refund. Below are some tips for receiving a larger refund.

Organization for Income Tax 2024 is the key

Firstly, prior organization is crucial for an effective Income Tax declaration. Ensure that all necessary documents are in order: income reports, proof of deductible expenses and documents for dependents.

Therefore, a well-organized folder can be the difference between maximizing your refund or missing out on valuable opportunities.

Choose the ideal form of declaration

Then deciding between the simplified and full return can significantly impact your refund. The simplified one offers a standard 20% deduction on taxable income, suitable for those with few expenses to deduct.

The complete declaration may be more beneficial for those who have a significant volume of deductible expenses.

Separate declarations for couples

Additionally, for couples, it may be more advantageous to opt for separate returns, especially if they both have taxable income.

This strategy can maximize allowable deductions and, consequently, income tax refunds.

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Take advantage of all possible deductions

Do not neglect any deductible expenses from 2023, including expenses for health, education, child support and contributions to the Free Benefit Generating Plan (PGBL).

Additionally, expenses for dependents may increase your refund. Keep all receipts and receipts organized to make declaration easier.

Donations as a Deduction Tool

An often underutilized strategy is the donation deduction. You can allocate up to 6% of the tax due to charities and cultural or sporting projects approved by the Federal Revenue. This is an effective way to reduce the tax you pay and still contribute to social causes.

Documentation required for Income Tax 2024

Furthermore, preparing in advance also means having all the necessary documents on hand. That includes:

Personal documents (RG, CPF, voter ID, proof of residence); Updated bank details; Proof of income (income reports from companies, banks, brokerages, retirement); Proof of health and education payments; Documentation relating to assets and properties (contracts, deeds, invoices).

Don’t forget to declare your 2024 Income Tax!

Filing your Income Tax doesn't have to be a stressful time. With preparation and strategy, you can not only meet your tax obligations with peace of mind, but also optimize your refund.

Remember that every detail can make a difference, so take the time to get organized and explore all deduction possibilities.

With these tips, you’ll be on the right path to a successful 2024 Income Tax return and, who knows, a welcome financial return.

See more: Income Tax and RESIDUAL values: check the last batch and find out if you have amounts to receive

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