A dreaded but obligatory moment. Every year, the French are obliged to declare their income to the tax authorities, generally in the spring. In a few weeks, you will therefore have to go to your personal space and make all the changes of the last twelve months, likely to be of interest to public finances. What are the changes to know about the 2023 taxes, so as not to miss out on certain reductions?
The first concerns the tax scale, which has been revised to mitigate the effects of inflation. Here are the new brackets to know, applicable to 2022 income:
If your income grew less quickly than inflation in 2022, then you will necessarily pay less tax this year. A first saving to note, but which is not the only one and which is not always sufficient to reduce your taxation significantly… And sometimes even without investing a penny!
You can reduce your taxes without investing. According to According to Tax Expert’s tax advisors, “there must always be an expense to be able to reduce your taxes without investing”: it can be daily expenses, or expenses made in addition to daily expenses. Here are the ones to remember:
You must of course meet certain conditions to benefit from these deductions and tax credits, all within an amount limit of course.
Your family situation can also give you the right to tax credits, especially if you have dependent children, because they increase your family quotient by half, thus benefiting your tax system. If you pay alimony to your children, do not forget to declare it because it is deductible from your overall income if they are minors. Be careful because if they are adults, there is a ceiling not to be exceeded.
Are you hosting a dependent person who is part of your tax household? You also benefit from a tax reduction of 25% of the expenses associated with this situation, up to a limit of 10,000 euros per year and per person accommodated. The accommodation of certain people, such as those over 65 or with disabilities, should not be forgotten in your declaration, insists Claire Chabert, co-founder of Expert Impôts.
If your family situation does not allow you to benefit from these various deductions, you can always count on other levers, in particular by choosing the right financial investments…
The first lever to know to lower your taxes through investment concerns two products: the Retirement Savings Plan (PER) and Life Insurance. If you have this first financial product, Claire Chabert specifies that “the payments are deductible from the tax base”. The tax site specifies that the deductibility ceiling is “set at 10% of the net amount of all earned income declared for year N-1 comprising a minimum (4,052 euros) and a maximum ( 32,419 euros) calculated on the basis of the annual amount of the social security ceiling for that same year”.
Claire Chabert of Expert Impôts insists on the fact that the PER is even more interesting “when you are self-employed”: “It is possible to earn 20% to 30% of contributions by making the payment directly from the structure of your company in his bank account”.
If you have life insurance, you can benefit from a tax advantage for contracts over 8 years old, insists Claire Chabert. The capital gains generated are only taxed at 7.5% and all the products present on your insurance contract are not subject to income tax until you redeem your contract.
These two financial products are much more attractive than traditional bank savings (PEL, LEP, Livret A, LDDS), even if they benefit from exemption from tax on interest.
If you have decided to invest in stone, make the right choices to also benefit from tax reductions in 2023. We explain everything to you.
Several devices exist to reduce your taxes thanks to real estate.
Rental investment, particularly with the Pinel system, allows you to benefit from a tax deduction, depending on your commitment to rent out the property.
Please note, as Claire Chabert explains, “from 2023 and 2024, the reduction rates drop successively from one year to the next”: “To continue to benefit from the full rates that we had until the end of the year 2022 you have to do the Super Pinel”, which is more demanding on the quality of housing.
With the Denormandie law, you can also benefit from tax reductions depending on the duration of the rental of your property:
Please note, Claire Chabert of Expert Impôts tells Planet that the system ends in December 2023 and that it has not been extended further. It may not be available in 2024. If you have rented property, depending on whether it is a bare or furnished rental, you also benefit from advantages, in particular within the framework of MaPrimeRénov’. Do not forget !
