Income tax return, know how to make the right last-minute choices

0

Should you reattach your adult child? Deduct alimony? Opt for the deduction of professional expenses? Abandon the lump sum deduction?

From household to household, the answers may not necessarily be the same depending on the situation. Here is how to make your choice when filing your income tax return.

  • Child of age: reattach it or not?

Parents of a child of full age can continue to declare it as their responsibility until the year they turn 21 or when they turn 25, if they are a student. It doesn’t matter whether he lives under their roof or lives hundreds of miles from home. The attachment allows them to keep an additional half share, or even a full share from the 3e dependent child. But for the wealthiest taxpayers, the tax gain provided by each additional half-share is capped at 1,570 euros.

Article reserved for our subscribers Read also How to properly declare your 2020 income

If they give up attaching it to their tax household, parents who continue to help an adult child can deduct the assistance provided from their income. This deduction is possible, even if their child is over 21 or 25, as long as the parents can justify the reality of their payment and the state of need of their child in the event that the tax service does so. would ask them. But the deductible amount is capped at 5,959 euros per child, of which 3,542 euros can be deducted as a lump sum to cover the costs of accommodation and food if their child has lived all year at home.

Telecommuting and costs

” The deduction of alimony of 5,959 euros allows taxpayers taxed in the 30% bracket or in a higher bracket to benefit from a tax advantage greater than the advantage provided by a half share of the family quotient: it amounts to 1,788 euros for taxpayers taxed in the marginal bracket at 30%, 2,443 euros for those in the 41% bracket and 2,682 euros for those reaching the highest bracket at 45% », Explains Stéphane Jacquin, managing partner of asset engineering at Lazard Frères gestion.

But be careful, this calculation does not take into account the other advantages linked to the attachment that must be taken into account, such as the tax reduction for tuition fees or the deduction for dependents for taxpayers who still pay the tax. home.

You have 64.33% of this article left to read. The rest is for subscribers only.