Post by nurnobisorker14 on Oct 29, 2024 21:12:24 GMT -8
Paying taxes on time is not only the responsibility of every citizen, but also an opportunity to receive favorable "discounts." Including a reduction in the cost of education. If you pay taxes regularly and comply with a number of other requirements, you can ask the state to return part of the amount paid in order to cover the costs of education. Moreover, you can receive a tax deduction for education for yourself, as well as for your minor children and even brothers, sisters.
Contents hide
1) How to get tax refund?
1.1) Calculation of compensation using examples
1.2) Basic conditions for receiving a tax deduction for education
2) Step-by-step guide: how to get a tax refund
3) Who can receive a tax deduction?
4) The amount of the “educational” tax deduction – how much can be returned?
4.1) How to get a tax refund on education profitably?
5) Documents for registration of tax deduction
6) Conclusion
How to get tax refund?
A tax deduction is a refund of a portion of the tax that you, as a taxpayer of the Russian Federation, paid to the state for 1 tax period. Such a refund is made when paying personal income tax - 13% or 15%.
You can get back 13% of the amount of tax paid from the amount that was spent on education. However, the amount returned by the state cannot be more than that established by the Tax Code of the Russian Federation. The easiest way to understand this issue is with an example.
Calculation of compensation using examples
Let's look at a simple example:
The taxpayer received 1,000,000 from the employer per year;
The employer paid tax for the subordinate at a rate of 13% - 130,000 rubles;
The taxpayer spent 100,000 rubles on bulk email campaigns his education in a year.
Since all taxes have been paid correctly, the taxpayer can request a tax refund. In this case, the state will return the entire amount of the taxpayer's expenses. It is calculated using the formula "Training expenses * 13%". That is, in our example, the taxpayer can return:
100,000 * 13% = 13,000 rubles.
The calculated compensation will be provided to the taxpayer's account.
If the tax paid is less than the amount spent, then the latter is returned in an incomplete amount. For example:
The entrepreneur paid 14,000 rubles in taxes per year;
The entrepreneur spent 200,000 rubles a year on his child’s education.
In this case, the entrepreneur can request a refund of 26,000 rubles (200,000 * 13%). But the state will return only 14,000 rubles from the paid tax. The remaining amount will be lost.
Basic conditions for receiving a tax deduction for education
To receive a tax deduction for education, it is not enough to pay taxes on time. Such a refund is made only if the taxpayer complies with a number of requirements. First of all, they concern the citizen himself. The following can receive compensation:
Residents of the country;
Officially employed persons who pay personal income tax;
Entrepreneurs operating under the general taxation system.
If you do not pay taxes, do not work officially, or receive income only from pensions, scholarships, and other benefits, you will not be able to request a tax deduction.
You won't be able to get a partial tax refund if someone else paid for your education. Even if you assigned your sister to pay for the entire first semester.
The second significant requirement is established in relation to the education itself. Both the taxpayer and his minor children can receive a refund for receiving it. The main thing is that:
No more than 3 years have passed since the training;
The training was paid for by the taxpayer’s own funds (and not through benefits, maternity capital, or employer funds);
The educational institution had a license to provide the relevant services.
You can get a tax deduction if your child entered MSU 4 years ago. In this case, the funds will be calculated and presented only for the last 3 years of study. But you cannot get a tax deduction for education that you received 10 years ago or that you are currently receiving at an unlicensed educational institution.
According to official data, about 5 million citizens applied for a tax deduction in Russia in 2020. In total, taxpayers were returned 1.8 billion rubles
The type of the institution itself and the format of classes do not matter. A partial tax refund is possible when studying in both a commercial and a state institution when receiving education both full-time and remotely. Some restrictions are typical for tax deductions for the education of brothers, children, sisters. You can receive compensation from the state for your own expenses only if the child studied full-time. Compensation for your own studies is also possible if you completed them in absentia.
Try paying in installments
First payment only after 30 days
Find out the limit
Step-by-step guide: how to get a tax refund
If you meet the above conditions and plan to return part of the funds spent on your education or the education of your children, sisters, brothers, then you need to:
Collect a package of documents (the full list of papers will be indicated below);
Fill out the 3-NDFL declaration;
Contact the MFC or the Federal Tax Service at your place of registration;
Submit an application for a tax deduction, attaching a full package of collected documents;
Get money.
Each application is reviewed by the tax service within 3 months. If the decision is positive, the funds are provided to the taxpayer within another 1 month.
The application and declaration must be submitted the following year after tuition payment.
Money can be returned in two ways:
Directly to the tax office. In this case, the funds are credited by the tax office itself to the taxpayer's account. The average time for checking and calculating compensation is 3-4 months.
Through the employer. The funds are not provided to the taxpayer directly. Instead, a corresponding notice is sent to the employer, who stops withholding 13% from the salary until the entire refund amount is provided. In simple terms: the employer will increase the salary for a while (by excluding the tax). The first increased salary can be provided within a month of filing the application (of course, subject to a positive decision by the tax office).
This procedure for processing a tax deduction is typical for receiving an education in both Russian and foreign universities. When studying abroad, compensation for educational expenses is made under general conditions. The only difference is the conversion of the amount spent into rubles.
Contents hide
1) How to get tax refund?
1.1) Calculation of compensation using examples
1.2) Basic conditions for receiving a tax deduction for education
2) Step-by-step guide: how to get a tax refund
3) Who can receive a tax deduction?
4) The amount of the “educational” tax deduction – how much can be returned?
4.1) How to get a tax refund on education profitably?
5) Documents for registration of tax deduction
6) Conclusion
How to get tax refund?
A tax deduction is a refund of a portion of the tax that you, as a taxpayer of the Russian Federation, paid to the state for 1 tax period. Such a refund is made when paying personal income tax - 13% or 15%.
You can get back 13% of the amount of tax paid from the amount that was spent on education. However, the amount returned by the state cannot be more than that established by the Tax Code of the Russian Federation. The easiest way to understand this issue is with an example.
Calculation of compensation using examples
Let's look at a simple example:
The taxpayer received 1,000,000 from the employer per year;
The employer paid tax for the subordinate at a rate of 13% - 130,000 rubles;
The taxpayer spent 100,000 rubles on bulk email campaigns his education in a year.
Since all taxes have been paid correctly, the taxpayer can request a tax refund. In this case, the state will return the entire amount of the taxpayer's expenses. It is calculated using the formula "Training expenses * 13%". That is, in our example, the taxpayer can return:
100,000 * 13% = 13,000 rubles.
The calculated compensation will be provided to the taxpayer's account.
If the tax paid is less than the amount spent, then the latter is returned in an incomplete amount. For example:
The entrepreneur paid 14,000 rubles in taxes per year;
The entrepreneur spent 200,000 rubles a year on his child’s education.
In this case, the entrepreneur can request a refund of 26,000 rubles (200,000 * 13%). But the state will return only 14,000 rubles from the paid tax. The remaining amount will be lost.
Basic conditions for receiving a tax deduction for education
To receive a tax deduction for education, it is not enough to pay taxes on time. Such a refund is made only if the taxpayer complies with a number of requirements. First of all, they concern the citizen himself. The following can receive compensation:
Residents of the country;
Officially employed persons who pay personal income tax;
Entrepreneurs operating under the general taxation system.
If you do not pay taxes, do not work officially, or receive income only from pensions, scholarships, and other benefits, you will not be able to request a tax deduction.
You won't be able to get a partial tax refund if someone else paid for your education. Even if you assigned your sister to pay for the entire first semester.
The second significant requirement is established in relation to the education itself. Both the taxpayer and his minor children can receive a refund for receiving it. The main thing is that:
No more than 3 years have passed since the training;
The training was paid for by the taxpayer’s own funds (and not through benefits, maternity capital, or employer funds);
The educational institution had a license to provide the relevant services.
You can get a tax deduction if your child entered MSU 4 years ago. In this case, the funds will be calculated and presented only for the last 3 years of study. But you cannot get a tax deduction for education that you received 10 years ago or that you are currently receiving at an unlicensed educational institution.
According to official data, about 5 million citizens applied for a tax deduction in Russia in 2020. In total, taxpayers were returned 1.8 billion rubles
The type of the institution itself and the format of classes do not matter. A partial tax refund is possible when studying in both a commercial and a state institution when receiving education both full-time and remotely. Some restrictions are typical for tax deductions for the education of brothers, children, sisters. You can receive compensation from the state for your own expenses only if the child studied full-time. Compensation for your own studies is also possible if you completed them in absentia.
Try paying in installments
First payment only after 30 days
Find out the limit
Step-by-step guide: how to get a tax refund
If you meet the above conditions and plan to return part of the funds spent on your education or the education of your children, sisters, brothers, then you need to:
Collect a package of documents (the full list of papers will be indicated below);
Fill out the 3-NDFL declaration;
Contact the MFC or the Federal Tax Service at your place of registration;
Submit an application for a tax deduction, attaching a full package of collected documents;
Get money.
Each application is reviewed by the tax service within 3 months. If the decision is positive, the funds are provided to the taxpayer within another 1 month.
The application and declaration must be submitted the following year after tuition payment.
Money can be returned in two ways:
Directly to the tax office. In this case, the funds are credited by the tax office itself to the taxpayer's account. The average time for checking and calculating compensation is 3-4 months.
Through the employer. The funds are not provided to the taxpayer directly. Instead, a corresponding notice is sent to the employer, who stops withholding 13% from the salary until the entire refund amount is provided. In simple terms: the employer will increase the salary for a while (by excluding the tax). The first increased salary can be provided within a month of filing the application (of course, subject to a positive decision by the tax office).
This procedure for processing a tax deduction is typical for receiving an education in both Russian and foreign universities. When studying abroad, compensation for educational expenses is made under general conditions. The only difference is the conversion of the amount spent into rubles.