When can I apply the tax deduction for children?

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

For a long time, the government has sought to impose taxes on the population of its state. The civilian population must at a certain time bring a fixed amount of money to a person whose duties include such accounting.

Tax collections of funds from the population are carried out today. However, the procedure for paying these taxes has been greatly simplified (compared to the past). Now the employer is responsible for the timeliness of such deductions, since they are made automatically from the wages of subordinates. The main tax levied on this category of citizens is personal income tax. A lifeline, albeit a small one, for taxpayers is tax deductions, such as the tax deduction for children.

This deduction is made monthly (in the amount of 1400 rubles per child). However, such a deduction will be carried out only until the amount of monthly wages exceeds the bar of 280 thousand rubles. It is worth noting that parents with many children are given a deduction for all children following the second in the amount of 3 thousand rubles. The tax deduction for children is also valid for disabled children and amounts to 3 thousand rubles, but this is only until the day the childturns 18 years old. But, if this child is a disabled person of group I or II and is studying full-time, then parents will be able to receive a tax deduction for children in the amount of 3 thousand rubles until they are 24 years old.

Today, Russian citizens have the full legal right to receive tax deductions relating to four different categories. Standard ones, which, by the way, include the deduction for children, include 2 more categories. These are, for example, persons who have received an award from the state, they can count on a deduction from the tax base of 500 rubles. Among the "lucky ones" are people who suffered as a result of disasters at the Mayak plant and the Chernobyl nuclear power plant. And, of course, the invalids of the Second World War are not left without attention. They are also en titled to 3 thousand rubles from personal income tax.

The second category of deductions is social. Tax deductions of this type can be obtained as a result of the cost of full-time education or treatment, as well as due to costs for non-state or voluntary insurance in various insurance organizations. It is worth noting that in order to calculate the tax deduction for training, the amount of expenses should not exceed 50 thousand rubles. Moreover, if both parents claim a deduction for a child, then the amount of 50 thousand rubles will be divided equally between them. If we consider spending on treatment, then the upper limit is 120 thousand rubles.

In addition to social and standard, there are other types of tax deductions. One of them is the property deduction.

To eachthe taxpayer is given the right to reduce the cost of paying personal income tax when selling housing or any other property value that has been owned for no more than 3 years. The maximum amount by which the tax base can be reduced when calculating the tax is 2 million rubles, but subject to special conditions.

The last category of tax deductions is professional. These lucky deductees include entrepreneurs, as well as individuals who have received awards for achievements in the fields of industry, science, art and literature. To calculate professional tax deductions, you must document the right to receive them.