How to pay less taxes in 2024

How to pay less taxes in 2024? Every taxpayer, whether entrepreneur, self-employed, pensioner or employee, is required to pay taxes.
This is an obligation established by law which no one can escape without becoming a tax evader.
There are, however, ways that allow you to pay less taxes, reducing their burden, without running into tax crimes or tax evasion and avoidance.
Taxation and the regime applied by different countries to collect taxes is not the same everywhere.
There are countries that provide taxation based on different brackets.
In the United States, for example, there is the Income tax, which is made up of seven income brackets that pay a percentage varying from 10% to 37%.
read also How to save 10,000 euros on taxes (with VAT number) In other countries the flat tax is applied, i.e.
a single rate also called flat tax, which is based on the principle that the taxes to be paid are not calculated on the taxable income in a progressive, but in a fixed way, unlike what is foreseen by the Irpef tax bracket system that exists in Italy.
In short, although there are differences in the taxation system, one thing is certain: taxes must always be paid and it is important to find out how to pay less and save (always in compliance with the law).
We remember, in fact, that the taxes paid by all taxpayers serve to allow the "State" machine to guarantee services to its citizens.
Even by respecting the law, however, it is possible to pay less taxes, let's see how to do it.
How to pay less taxes in 2024, complete guide How to pay less taxes if you are a freelancer The principle of inherence: how to pay less taxes in 2024 How to pay less taxes in 2024 if you have a sole proprietorship? How to lower taxes on your paycheck in 2024 How to pay less taxes with food stamps How to pay less taxes if you are a freelancer The perception of every citizen is that of paying too many taxes.
It is certainly true, in Italy the tax burden is very high and one often has the feeling of having no defense in the face of requests from the tax authorities.
If you are self-employed, you have the possibility of paying less taxes by choosing the flat tax system with the flat rate regime for VAT numbers, introduced with law 190/2014.
This is a tax regime accessible to all those who have a VAT number and a turnover not exceeding 85 thousand euros, to which a rate of 15% is applied (which drops to 5% in the first 5 years of activity in some cases specific).
The rate is not applied to the overall amount of revenues, but to the profitability coefficient established by law for each professional category.
This allows you to pay taxes in a lump sum, keeping a percentage of your earnings tax-free.
The profitability coefficient for professional activities varies depending on the type of activity from 67% to 78%.
If, for example, a lawyer invoiced 30 thousand euros in 2021, he will calculate the rate at 23,400.00 euros (78% of 30 thousand euros) and will therefore have to pay: 3,510.00 euros (15% of 23,400.00 euros ) if they are at least in their sixth year of professional activity; 1,170.00 euros (5% of 23,400.00 euros) if it is in the first five years of activity.
read also What are the bonuses for 2023? The new deductions in 730 To understand how convenient this tax regime is, just think that the lowest ordinary rate of Irpef is 23% for incomes up to 28,000.00 euros.
It should be kept in mind, however, that in the flat-rate regime it is not possible to deduct any expenses (with the exception of compulsory social security contributions), not even those linked to professional activity which should be amortized by the percentage of earnings on which taxation is not applied thanks to the profitability coefficient.
The principle of inherence: how to pay less taxes in 2024 Many VAT numbers under the ordinary regime do not take care of the costs inherent to their business in a precise and detailed manner.
The principle of inherence is a general clause of the tax system deriving from article 109, paragraph 5, of the TUIR (Consolidated Law on Income Taxes).
A VAT number incurs costs (train ticket, professional development, lunch at a restaurant, refueling just to name a few) which are characterized by amounts which are perhaps not so significant, but if added up at the end of the year they can form a fairly significant amount.
In order to subtract these expenses from income, as deductible charges, it is necessary that the cost is actually borne by the self-employed worker with a VAT number and documented by an invoice or by the so-called "commercial document", i.e.
the receipt with the indication of the VAT number.
VAT of the professional.
For professionals, all expenses incurred in carrying out their business and inherent to it are deductible from taxable income, such as: the purchase of professional books and magazines; professional refresher courses; the purchase of stationery material and stamped values; costs for employee work and occasional self-employment services; the purchase of capital goods for the exercise of professional activity.
As we have already mentioned, however, this is not true for the freelancer or the self-employed worker who has chosen the flat-rate regime.
read also Increasingly poor freelancers: how much does a VAT holder earn How to pay less taxes in 2024 if you have a sole proprietorship? If you are an entrepreneur and have a sole proprietorship, it is important to choose the right tax regime to pay less taxes.
Tax planning must be done with the right tools to save and benefit from all the opportunities provided by law.
For example, calculating taxes in brackets with a sole proprietorship or partnership without having asset protection is very dangerous.
Surely the first evaluation that is necessary concerns the constitution of the company: which is most convenient? read also Joint-stock companies: what it means, what they are and characteristics Limited liability companies (Srl) have a more flexible structure than Spas and are better suited to small and medium-sized businesses.
The capital is not divided into shares as in spas, but into participation shares and the minimum share capital to found an LLC is 10 thousand euros.
Particular attention is also important when planning the activity of the company or firm to control above all ordinary and extraordinary expenses, but also those that may arise from travel and business trips.
It is important to know that travel allowances are fully deductible for companies and for those who receive them they are tax-free up to a maximum of 46.48 euros per day, which can increase to 77.64 if you are abroad.
How to lower your paycheck taxes in 2024 Part of your paycheck each month is withheld to pay taxes.
The payment for the employee is the employer who must proceed as a withholding agent.
In general, the withholdings that each worker is obliged to pay every month are: INPS social security contributions to be paid by the worker; Irpef withholdings; additional regional and municipal Irpef; INAIL contributions.
How to save on taxes then? The main way to pay less taxes if you are an employee is to request access to tax deductions on the Irpef: employees are obliged to submit a tax return with all the information on the earnings received in the previous year.
read also Deductions 730/2024: the complete list of expenses that can be downloaded Through tax deductions it is possible to obtain a discount on taxes or receive an additional credit on the pay slip.
Tax deductions allow access to a large amount of discounts, in particular for: Healthcare expenses Healthcare expenses incurred for non-dependent family members suffering from exempt pathologies Healthcare expenses incurred for people with disabilities Expenses for the purchase and repair of vehicles for people with disabilities Expenses for the purchase of guide dogs Interest on mortgage loans for the purchase of the main residence Interest on mortgage loans for the construction of the main residence Interest on agricultural loans or mortgages Educational expenses University education expenses Funeral expenses Expenses for care workers personal assistance Expenses for real estate brokerage Expenses for rent incurred by university students away from home Donations in favor of populations affected by public disasters or extraordinary events Donations in favor of amateur sports clubs and associations Donations in favor of mutual aid companies Donations in favor of social promotion associations Expenses relating to assets subject to restrictions Donations for cultural and artistic activities Donations in favor of entities operating in the entertainment industry Donations in favor of foundations operating in the music sector Veterinary expenses Expenses incurred for interpreting services by recognized deaf individuals Donations in favor of educational institutions of all levels Expenses for contributions paid for dependent family members relating to the redemption of the graduation years Expenses incurred by parents to pay fees for attending nursery schools Donations in cash to the Fund for the amortization of government bonds Premiums relating to life and accident insurance Premiums relating to insurance aimed at protecting people with serious disabilities Premiums relating to insurance for the risk of non-self-sufficiency Expenses incurred for the purchase of subscriptions to public transport Premiums relating to insurance concerning the risk of calamitous events stipulated in relation to real estate units for residential use Medical expenses incurred in favor of minors or adults with specific learning disabilities (DSA) Donations in cash for an amount not exceeding to 30,000 euros per year in favor of non-profit organizations of social utility (ONLUS) Donations in cash in favor of political parties Expenses for leasing fees for a property to be used as a main residence Expenses relating to various bonuses for the home: superbonus 110% , facade bonuses, etc.; Expenses for charitable donations.
How to pay less taxes with meal vouchers Meal vouchers are a solution that is often not thought of, but which allows everyone to save on taxes even in 2024.
This is not a solution suitable only for companies with many employees, but also to individual businesses and self-employed workers who can purchase them for themselves.
The costs of the vouchers, in fact, are fully deductible from income (up to a certain limit) and the 10% VAT applied is fully deductible.
Meal vouchers for freelancers and individual businesses are deductible, as we have said, within certain limits, namely: 75% of their cost; up to 2% of annual turnover.
Let's see a concrete example.
If a self-employed worker has a turnover of 50,000 euros, he can deduct meal vouchers for a maximum of 2% of the turnover (1,000 euros).
We remember, however, that only 75% of the cost of meal vouchers can be deducted and in fact the self-employed worker can purchase 1,332 euros of meal vouchers by deducting 999 euros (75% of 1,332 euros spent).
Even for the employee, receiving meal vouchers represents a tax saving because the amount of the tickets is completely tax-free up to 8 euros per day for electronic ones, up to 4 euros per day for paper ones.