How much can I deduct from my Having a child is a joy. But it also doubles your expenses. But one positive part that you may not know about is that when it comes time to file your tax return, there are deductions available to maximize your tax benefits. And if you have children, there are several ways to claim them on your tax return. In this article, we will explain the main deductions that you can claim. Let’s get started!
General deductions for children
Maternity deduction: How much can you deduct?
Additional tax breaks for large families.
Regional deductions: Amounts and requirements.
Practical examples of deductions for children.
Deductions in joint vs. individual return.
How to claim deductions that were not applied correctly.
Conclusion: Maximize your child tax benefits with TaxDown.
Frequently Asked Questions
How much can I deduct for each child in my income tax return?
What is the maternity deduction and how much can I deduct?
Do large families have additional tax benefits?
How do child deductions affect filing jointly?
General deductions for children
General deductions for children are one of the most important tax benefits for families. These deductions allow you to reduce your personal income tax base, which means you will pay less tax.
On the one hand, there is the “minimum for descendants”. The boxes to include it are 513 and 514. In income tax there are a series of amounts exempt from taxation, since it is understood that there is money that the taxpayer needs to cover his needs , as well as those of his descendants and ascendants.
If you are not sure which case applies to you, with TaxDown you can be sure that you are getting the maximum possible benefit in your tax return. In addition, if you find any deductions that were not applied correctly in the past, our team of advisors will help you correct those errors and claim the money you are entitled to.
Maternity deduction: How much can you deduct?
Mothers with children under three years of age can benefit from an additional maternity deduction. This deduction can reach up to 1,200 euros per year (100 euros per month). In addition, if expenses are incurred for daycare or early childhood education centres, the deduction can increase by an additional 1,000 euros , provided that these expenses are duly justified.
To apply this deduction, you must meet one of the following requirements regarding your situation:
1. Receiving unemployment benefits: If at the time of birth you are receiving unemployment benefits , you can benefit from the maternity deduction.
2. Be registered with Social Security: Or if you were registered with Social Security or a labor mutual fund when your child was born.
3. Or have at least 30 days of contributions: If you were not registered with Social Security at the time of birth, you can benefit from the deduction if you register later and have contributed for at least 30 days.
Close-up of a baby’s hand on an adult’s hand, symbolizing the benefits that come with including your child in your tax return
Additional tax breaks for large families How much can I deduct from my
Large families also enjoy additional tax benefits. If you have three or more children, you can apply a deduction of up to 1,200 euros per year.
If you belong to a special category large family (five or more children), the deduction increases to 2,400 euros per year . In addition, for each additional child, an additional 600 euros are added to the deduction.
To be able to benefit from this deduction, you will have to meet certain requirements?
Large families also enjoy additional tax benefits. If you have three or more children, you can apply a deduction of up to 1,200 euros per year . If you belong to a special category large family (five or more children), the deduction increases to 2,400 euros per year . In addition, for each additional child, an additional 600 euros are added to the deduction.
You must be in possession of the official large family title issued by the corresponding autonomous community.
Beneficiaries must be subject to personal income tax and submit the corresponding declaration.
Paper figures of a family held in hands, representing family unity and protection
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Regional deductions: Amounts and requirements
The autonomous communities in Spain also offer specific deductions that may vary. For example, in Catalonia , you can deduct 300 euros for the from top of mind to top of google birth or adoption of a child in a joint declaration, or 150 euros per parent in individual declarations.
Practical examples of deductions for children
Imagine a family with two children, one of whom is under three years old. They could deduct 2,400 euros for the first child, 2,700 euros for the second and an additional 2,800 euros for the child under three years old, making a total of 7,900 euros . In addition, the mother could add up to 1,200 euros of maternity deduction, reaching a total of 9,100 euros .
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Deductions in joint vs. individual return
When filing your tax return, you must decide whether to file jointly or individually .
However, depending on each individual’s income , it may be more beneficial to file individual returns. Evaluating both options will allow you to maximize the deductions available.
If you want to make sure you are taking advantage of all the tax benefits, TaxDown is an excellent option. How to claim deductions that were not correctly
If, when reviewing your draft, you find that a deduction has not been correctly, you adb directory can request a correction. The Tax Agency allows you to correct these errors by means of a request for correction of self-assessment. Make sure you review every detail before filing your return so that you don’t miss out on any deductions.
Happy family hugging, showing love and support, symbolizing tax deductions for children
Conclusion: Maximize your child tax benefits with TaxDown
To ensure you are taking advantage of all available deductions, tools like TaxDown can be a great help. Our platform guides you through every step, ensuring you don’t miss out on any opportunities to save on your tax return. Don’t miss out on the opportunity to maximize your tax benefits for having children.
