Income Tax: Sources of Tax Exemption Related to Your Daily Expenses

Tax exemption is probably much more within your reach than you imagine. Expenses for your family, your principal residence, your good works … are entitled to reductions, deductions and tax credits.

Deductions, reductions and tax credits are possible thanks to many solutions such as rental investment (Pinel, Malraux …), retirement savings products (PERP, Madelin), or investment funds in SMEs. But do you know that there are other ways, directly related to your daily life, that allow you to reduce your taxes?

Family tax reductions and deductions

Family life generates many costs. A nanny to keep the youngest, saving books for your eldest’s studies, a helping hand from an employee for ironing and cleaning … All of this is expensive, but these amounts can be deducted from the amount of your tax or income before tax calculation. Especially :

  • compensatory benefits paid in the event of divorce,
  • alimony,
  • childcare costs for young children,
  • the expenses for the employment of an employee at home,
  • a package for dependent children continuing their studies.

Sources of tax exemption related to your home

At home, you have isolated your attic and installed photovoltaic panels. These works improve the comfort and energy performance of your home. This financial effort for sustainable development may entitle you to a tax credit at the rate of 30%. This concerns investments in:

  • energy-saving appliances (condensing boiler, micro-gas generation …),
  • insulation materials for walls, roof, floors, shutters …
  • energy production equipment using a renewable energy source,
  • energy performance diagnostics, individual meters …

A tax credit for assistance to persons

You host an elderly or disabled person and you want them to feel comfortable and as independent as possible. So you put a banister, changed your bathtub to facilitate access, installed a centralized control for the shutters … As part of the assistance to people, a tax credit can be granted for:

  • adapted sanitary appliances,
  • safety and accessibility equipment (support bars, vertical lifting devices, remote control systems, etc.).

Pay less taxes thanks to your charitable commitments

Solidary and committed, you do not hesitate to donate your time and money to charities. You are right, especially since your generosity is recognized by the tax services.

  • Donations to organizations providing assistance to people in difficulty such as the Restaurants of the Heart, the Red Cross, the Secours Populaire … benefit from a tax reduction of 75%,
  • Donations to organizations of general interest established in France are entitled to a single reduction rate of 66%.
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