What back-to-school expenses are deductible?

He back to school The holiday season is getting closer, so it is important to be in advance about what annual deductible expenses you will be able to incur. It is also recommended to buy everything in advance, since there may be a shortage of supplies, which leads to higher prices.

The deductible expenses that we can find in this return to school are 2.

1. Tuition: private schools from preschool to high school level.

Tuition may vary depending on your child’s educational level.

Preschool a maximum of 14 thousand 200 pesos

Primary school with a maximum of 12,900 pesos

Secondary school with a maximum of 19 thousand 900 pesos

High school with a maximum cost of 24,500 pesos

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It is important to know that the expense will be deductible, as long as it is paid by credit card, debit card, check or electronic transfer. Cash payment will not be deductible.

1. School transport: only if it is required by the educational institution.

According to the Income Tax Law in article 151, section VII. “Expenses for school transportation of descendants in a straight line when this is mandatory under the terms of the legal provisions of the area where the school is located or when said expense is included in the tuition for all students. For these purposes, the amount corresponding to school transportation must be separated on the receipt and made by check in the name of the taxpayer, electronic transfers of funds, from accounts opened in the name of the taxpayer in institutions that make up the financial system and the entities authorized for this purpose by the Bank of Mexico or by credit, debit, or service card.

However, tools such as the backpack, notebook, books, etc. are not part of a deductible expense. There are companies that make loans to their workers in which they supply them with school supplies, but It is not deductiblesince it comes from the company.

How to validate your payment vouchers?

It is important that you keep all receipts, invoices or cash receipts, since this will help you validate your deductible expenses.

• Name of taxpayer
• Taxpayer registration number (RFC)
• Name of the establishment or institution
• Payment date
• Amount paid

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2024-08-16 12:33:08