Return to class always brings an inevitable list of expenses: manuals, school supplies, tuition and even outcome of displaced students. The good news is that many of these costs can be deducted in the IRS. To do this, just a simple care that can make all the difference: asking for a taxpayer invoice.
According to the Tax and Customs Authority (AT), it does not matter if the NIF placed is that of parents or children. The essential thing is that it belongs to one of the elements of the household and, later, the invoices are confirmed on the Finance Portal.
This detail can mean less tax payable or even a more generous reimbursement next year.
What expenses enter the IRS
According to the AT, education and training expenses are considered to be costs with day care centers, kindergartens, schools, lactaries and educational establishments. They also include manuals and school books.
These expenses are only accepted if they originate in entities integrated in the National Education System or recognized by the competent ministries. In the case of vocational training, they only count when they are not treated as an independent activity charge (category B).
How much can deduce
According to the Finance Portal, it is possible to deduct 30% of the value of education expenses, up to 800 euros by household aggregate. The amount is applied directly to IRS collection, reducing the amount to pay or increasing the refund.
In practice, asking for an invoice with NIF is a gesture that can turn an inevitable expense into fiscal savings.
Majoration cases
The Portal of Financial Literacy EI, of the Montepio Mutualist Association, recalls that there are special situations in which the limits are higher.
Families with students enrolled in establishments located in the interior of the country or in the autonomous regions benefit from a majority of 10 percentage points and may reach up to 1,000 euros.
In the case of displaced students, who study more than 50 kilometers from permanent residence and live in leased properties, the limit rises to 1,100 euros. But only if the additional 300 euros are concerned with lease, with a maximum ceiling of 400 euros for this component.
VALIDA IN THE FINANCE PORTAL
Even always asking for an invoice with NIF, the process is only complete when expenses are validated in. It is this step that ensures that the amounts enter the IRS calculation.
This is a simple procedure, but it can make a real difference in the portfolio of many families.
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