The combination of salary and green receipts is increasingly common, but it can also bring pitfalls when submitting Income Tax, especially when the taxpayer assumes that the process is similar to that of a simple declaration.
According to , many taxpayers make mistakes when declaring income from different categories, which can result in incorrect tax calculation and, in some cases, lead to paying more than necessary.
According to the same source, the complexity arises because income from dependent and independent work obeys different rules, although they end up being added together in the final calculation.
The most common mistake is in the way you declare your income
When Category A and Category B income accumulates, it is essential to include all the necessary annexes, but also to understand how these values influence the IRS bracket.
The most frequent error occurs when the taxpayer accepts the automatic declaration without checking whether the income from green receipts was correctly included, or when filling out Annex B without paying attention to the essential fields.
At the same time, there are those who do not understand that all income is added together for calculation purposes, which can push the taxpayer to a higher bracket and increase the tax payable.
Chosen regime can make a difference in the final value
Another critical point is the choice of taxation regime for income from green receipts, as this decision has a direct impact on the amount subject to tax.
Under the simplified regime, only part of the income is considered taxable, with a coefficient being applied which, in the case of services provided, corresponds to 75%.
Still, there are situations in which organized accounting can be more advantageous, especially when there are high professional expenses, although this implies greater complexity.
Holds and simulations are often ignored
Many taxpayers forget to correctly declare the withholdings associated with green receipts, which can distort the final tax adjustment.
Furthermore, not carrying out simulations before submitting the declaration is another common mistake, as it prevents us from understanding the real impact of the choices made.
Simulating different scenarios, including joint or separate taxation, can reveal significant differences in the final value.
Small details can have a big impact
Seemingly simple errors, such as omitting low-value receipts or using the wrong coefficients, can change the IRS’s final result.
It is also common not to confirm the pre-filled data or not to review the tax deductions, which can lead to paying more tax than necessary. Therefore, although the process may seem complex, attention to detail makes all the difference.
Paying more than you should can be avoided
By understanding how income is combined and completing attachments correctly, you can avoid mistakes that result in overpayments.
Furthermore, checking all data and using available simulation tools allows you to adjust the declaration before submission.
In the end, and although many taxpayers don’t realize it, there is a common mistake that could be costing you money every year, making it possible to avoid it with some simple precautions, according to Ekonomista.
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