What the Income tax Consultant Watsonreally Does for Clean Submission

To pay less taxes in a legal way it is necessary to reduce the taxable income, since on this we calculate the taxes and contributions to be paid. Monitoring the trend of your income during the year, through periodic accounting situations, represents the best strategy to contain taxes at the end of the year. To pay less taxes, therefore, professionals with VAT number need a guide that allows them to orient themselves in the pitfalls present in the Italian tax authorities. The Income tax Consultant Watson is the perfect one in this matter.

To be able to contain the tax burden, there are various methods, the most important 10 below:

Knowing How To Recognize The Main Deductible And Deductible Charges: deductions are the tax burdens that reduce income before calculating the tax to be paid. Deductions instead represent those charges that are deducted directly from taxes, thus reducing the amount to be paid. It is mandatory to keep all documents used to certify the expenses incurred. Each document, which must not be attached to the tax return, must bear the tax code or VAT number and must be kept in the original until December 31 of the fourth year following the presentation of the form.

·        professional books and magazines

·        stationery, consumables and stamps

·        expenses for employees and occasional self-employment services

·        utilities registered to the professional firm

·        capital goods for the exercise of the activity

The Main Costs Are Partially Deductible Instead:

·        Lease of a building used as an office and at the same time at home, the costs of which are 50% deductible.

·        Car maintenance and fuel costs, deductible at 20%.

·        Fixed or mobile telephony costs, 80% deductible.

·        Expenses for hotels and restaurants, 75% deductible provided they do not exceed 2% of the remuneration received.

·        Representation expenses, deductible up to the limit of 1% of the remuneration received.

Reduce The Profit By Publicity Or Sponsorship Contracts: if the accounting situation in November shows a substantial positive result, it is advisable to invest in advertising which, representing a deductible cost, reduces the profit and perhaps allows you to subtract a slice of the market to competitors.