Income tax filing can be an opportunity to save if you know the available deductions and meet the necessary requirements. Here we explain some of the most common deductions and how you can benefit from them.

Making contributions to a pension plan is an excellent way to reduce your taxable income. To do so:

• You must make the contributions before December 31st.
• The maximum deductible limit is 1,500 euros for individual plans and 8,500 euros for employment plans.

Investing in startups not only supports innovation, but also allows you to deduct part of your investment:

• The deduction is 50% of the investment, with a maximum of 100,000 euros.
• It is necessary to invest in start-up companies.

Donations to non-profit organizations may be deductible:

• You can deduct 80% of the first 250 euros donated and 40% of the remainder.
• Make sure that the receiving entity is officially recognized.

Receiving part of your salary in the form of benefits can have tax advantages:

• Benefits such as childcare vouchers, meal tickets, health insurance, transportation, or company shares have specific tax exemptions.
• Check with your company about the available options.

Purchasing an electric vehicle is not only good for the environment, but it can also reduce your tax bill:

• The deduction is 15% of a maximum base of 20,000 euros.
• The purchase must be made before December 31st.

Making improvements to the energy efficiency or conservation of your home may be deductible:

• Deductions vary depending on the type of renovation and the energy savings achieved.
• Make sure the renovations meet the established requirements.

1. Review your Deductible Expenses: Make sure to include all expenses that may be deductible, such as medical, educational, and housing expenses.
2. Organize your Documentation: Keep all receipts and necessary documents organized and accessible to facilitate the filing process.
3. Consult with a Tax Advisor: A professional can help you identify all the available deductions and tax credits for your specific situation.
4. Plan Ahead: Don’t wait until the last minute to prepare your tax return. Planning ahead will allow you to take advantage of all the savings opportunities.