Individual income tax is levied on all citizens of the Russian Federation at a flat rate of 13%. It is paid on the basis of a 3-NDFL tax return. Few people know that in some cases it is possible to reduce the amount of tax paid for the year by the amount of tax deductions.
Instructions
Step 1
Calculate the amount of the standard income tax deduction. All individuals, whose monthly income does not exceed 40 thousand rubles, have the right to deduct 400 rubles from the tax base on a monthly basis. Parents can reduce their income tax by 1000 rubles per month for each child, provided that their monthly income does not exceed 280 thousand rubles, and the children are under 18 or are students under the age of 24. A tax deduction in the amount of 3,000 rubles is provided monthly to individuals who have suffered from radiation exposure, who are invalids of the Great Patriotic War and disabled military personnel. Citizens belonging to the privileged category can reduce the tax by 500 rubles per month.
Step 2
Determine the amount of social tax deduction that will reduce income tax. In the case of expenses for charitable purposes, an individual has the right to reduce his annual income by up to 25%, which in turn reduces the tax paid.
Step 3
If there are expenses for full-time education of children until they reach 24 years of age or for their own education, reduce the amount of the taxable tax base by the amount of the social deduction for education, the amount of which is established annually. Medical expenses can be deducted from taxable income up to 120 thousand rubles. At the same time, deductions for expensive types of treatment are unlimited in amount.
Step 4
Get a property tax deduction to reduce personal income tax. In the case of purchasing a house, apartment or land plot, a deduction of up to 2 million rubles from the tax base can be drawn up. When selling real estate, the deduction is charged in the amount of 1 million rubles for ownership up to 3 years, otherwise the amount of income from the sale is used. When paying for a mortgage, the income of an individual is reduced by the amount of interest actually paid on the loan.
