Have you tried to record your income and expenses daily? Give it a try! This occupation is very informative and no less exciting. And perhaps you have long been engaged in family bookkeeping and carefully consider every penny. But even in this case, you are unlikely to add the cost of gifts received to the income part of the list, and you certainly do not calculate the benefit of saving on the percentage of borrowed money from friends before the salary of money.
But the accountant sometimes has to do this. Of course, only in relation to the income received by company employees. After all, it is possible that these revenues should be transferred to the budget (short - personal income tax).
So what exactly is income? Most often - salary. Only now, everything is not limited to it. In fact, everything can be recognized as income, due to which the personal budget is replenished. And this means that literally everything is subject to personal income tax.
For example, taxable income may be property that the employer transferred on a salary basis. And gifts received from the employer are, fortunately, not all, but only those that total no more than 4000 rubles per year. Here we are talking about income in kind.
There is a completely non-material form of income, already mentioned above. This is when a person has saved something. Say, I took an interest-free loan at work. Unpaid interest is also taxable income. Only he acted not in the form of any values, but in the form of the so-called material gain. And this is not a complete list.
But there are cases that an accurate calculation of the income received is impossible. Let's say the company held a corporate party for its employees. With food, drink, artists ... It seems that every employee received income. But how much exactly? Unclear. And you can’t count it. In such cases, personal income tax is not deductible.
And yet, there are also such incomes that are exempted from personal income tax in general. But this is a separate, no less fascinating story with which you can familiarize yourself with Article 217 of the Tax Code of the Russian Federation. In the meantime, we'll talk about how it is completely legal to save on personal income tax.
One such way is the right to tax deductions. What does it give? Firstly, the opportunity to demand that a smaller amount is not taken into account in calculating the tax. Then they will hold less. And secondly, a chance to return part of the personal income tax that has already gone to the budget.
There are four types of deductions: standard, property, social and professional.
With standard deductions, income can be reduced by a fixed amount each month. There are two types of such deductions: for beneficiaries - 500 or 3000 rubles, and for those who have children - 1400 or 3000 rubles. But here are their limitations: it is possible to apply a child deduction until the income of the parent from the beginning of the year has exceeded 280,000 rubles.
The property deduction is due for the purchase or construction of housing, as well as for the acquisition of land for the construction of housing or with it. The deduction limit is 2 million rubles, and taking into account interest on targeted loans - 3 million rubles.
And there is a property deduction for those who, on the contrary, have sold their property. Restrictions, again, on the type of property, the number of years of ownership of the property and the maximum amount of deduction (in the amount of income from the sale, but not more than 250,000 or 1 million rubles. - depending on the property sold).
Are you getting an education, being treated, taking care of a future pension, doing charity work? So, you have the right to social deductions. Annual expenses on such deductions should fit into 120,000 rubles. And if your children study for a fee, then the deduction limit is 50,000 rubles. per child (for both parents, guardians or trustees).
And finally, professional deductions. Entrepreneurs can reduce their income on them: either in the amount of confirmed expenses, or in a fixed amount - 20% of the income received.
The authors and performers of works of literature, science, and art are also entitled to choose the amount of deduction, in the amount of confirmed costs or according to the norm. But citizens who work under civil law contracts (contracts or services) cannot choose. They have the right to reduce their income only by the amount of expenses incurred, and provided that there are documents.