Not all insurance registered in e-start can be deducted in the IRS. Understanding which tax benefits are entitled to maximize deductions and avoid errors in the income statement.
How are insurance registered in e-start?
By 2020, insurance expenses were not automatically included in e-invoice, which raised doubts in invoice validation. Since then, insurance mediators have been required to communicate the values by the 12th of the month following their issuance. Thus, from March 15, taxpayers can consult and validate these expenses by the end of the month, ensuring that they are correctly considered for tax purposes.
However, some expenses may not automatically appear on the platform. In these cases, it is necessary to insert them manually to ensure deduction.
What insurance can be deducted in IRS?
1. Health insurance
Health insurance premiums can be deducted at 15%as long as they go up to health risks. The maximum deductible amount is subject to the overall limit of 1,000 euros for health expenses.
The insurer annually sends a statement with the amounts paid, which must be confirmed in Annex H of IRS Declaration.
2. Life insurance
Life insurance, as a rule, are not deductible. However, there are exceptions:
- Quick wear professions: Sports, miners and fishermen can deduce 100% of paid prizes, up to 2,402 euros, provided that insurance covers exclusively risk of death, disability or old age reform (starting at 55).
- Taxpayers with Disabilities: Anyone who has a degree of disability equal to or greater can deduct 25% of the awards paid to life insurance with death coverage or disability, up to 15% of the collection.
- Reform insurance: Savings-Reformation Plans (PPR) allow you to deduce 20% of paid awards, up to a limit that varies according to the taxpayer’s age:
| Taxpayer Age | Deductible maximum value |
|---|---|
| Less than 35 years | 400€ |
| 35 to 50 years | 350€ |
| More than 50 years | 300€ |
The PPR management entity communicates the values to the Tax Authority, arising automatically in Annex H.
3. Personal accident insurance
Only fast -wear workers can deduce 100% of paid awards, with a limit of 2,402 euros.
4. Fire insurance
This insurance is mandatory for landlords and can be deducted in the IRS, but must be declared in Annex F, which deals with building income. Optional multirrisks are not deductible.
5. Automobile insurance
There are no specific tax benefits for car insurance. However, these values may be included in the “Family General Expenses” category, being considered automatically in Annex H.
How to validate insurance in e-start?
To ensure that deductions are accounted for correctly, it is essential to validate the invoices in e-focus by March 31. If any expense does not appear on the platform, it should be inserted manually.
Conclusion
The correct validation and insertion of insurance can not make a difference in the amount of the collection payable or the reimbursement receivable. Staying informed and checking all expenses in e-start are fundamental steps to ensure that it makes the most of the available tax benefits.
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