The lawyer clarifies what can and cannot be deducted from the tax return
Being the deadline for delivery of the tax declaration Due May 31, it is essential to understand the details of how to report health, education and dependent expenses to ensure accurate accounting and avoid future problems with the tax system.
But first it is important to understand What expenses are considered deductible in income tax. Lawyer Josemar Tadeu Kloster, specialist in tax law and partner of the Jorge Ponsoni Anorozo & Advogados Associados firm, clarifies some doubts about what can and cannot be deducted.
“Healthcare expenses are those that include expenses at doctors, clinics, hospitals, health plans, dentists, psychologists, among others. Education expenses cover tuition from kindergarten to higher education, including master’s, doctoral and specialization and also vocational education, including technical and technological education. As for dependents, it is possible to deduct healthcare, education and private pension,” he explains.
How to fill out the declaration?
Before starting to fill out the declaration, the specialist recommends collecting all the necessary documents, such as receipts for payments to freelancers, invoices from hospitals and clinics, account statements provided by the health plan and respective proofs of payment, which certify expenses incurred in the last year.
“Deductible expenses incurred by the taxpayer and his dependents in the base year 2023 will be deducted from the income tax calculation base, so the amount of tax due will be less or, in the case of withholding tax, more large, there will be an income tax refund,” he points out.
To report medical and education expenses, for example, the information must be entered on the Federal Revenue program’s “Payments Made” form used to file your tax return. “Within this form you must select the specific code that corresponds to the expense, for example (10) for payments to doctors, (11) for dentists and (12) for psychologists or (01) for payments to educational institutions Next, enter the total amounts paid, the name and CPF of the professional or CNPJ of the indicated establishment.
What about dependents?
As regards dependents, it is essential to correctly communicate the data of each one, including name, CPF and relationship of dependency with the declarant. Furthermore, you must inform the amounts spent on the maintenance of each dependent, including expenses for health, education, among others.
“It is essential that taxpayers pay attention to who their dependents are and also fill out all information correctly to avoid inconsistencies or errors that could generate future problems with the tax net. Additionally, the inspection may require proof of these expenses through presentation documents that demonstrate actual spending,” adds Kloster.
If you have further doubts about what can or cannot be declared and who the dependents are according to tax legislation, the taxpayer can still consult the IRPF “questions and answers” form, which can be downloaded from the Federal Revenue website.
Source: Terra
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