Your personal income tax it must be a certain amounta percentage of your salary that, even if you think you’ll stop earning, you’ll end up paying. Rent means you have to pay that money back, so it’s best to contribute the corresponding amount little by little so as not to have any surprises. In this way, in this last part of the year we must take into account certain details that will end up corresponding to those of the days that await us.
The payroll you have is what will allow you to make it to the end of the month or not. An option which will become essential and which will perhaps end up making a difference. This will therefore mark a before and after, accompanied by a series of details that could end up being those that help us to better organize ourselves financially, something that we must take into account and that will help us. Reaching a certain point in the year and not getting what we want or even paying more is something that will cost us more or less.
Your payroll receives an urgent notice
At the end of the year, it is It’s important to be clear about income tax brackets this decision based on what the experts say. The amount of money collected at the end of the month is an element that marks this reduction or extension of personal income tax, which will also be calculated according to responsibilities.
A percentage that may be higher or lower, so we will have to start thinking about these changes that await us and how to put them into practice. The time will come when we need to see these key adjustments come to fruition.
It is time to consolidate some actions that will help us ensure that at the end of this cycle we will not pay more or have to pay everything at once. With payroll we pay little by little, so we will get extra that we might not have in mind.
They will take from us little by little and month after month, these months that we have ahead of us, a sum of money that we will have to pay almost at once with the rent paid. So it pays to contribute that money based on what we charge.
This is what you have to pay to avoid getting hit
Personal income tax is applied gradually so you don’t have to pay more. It is important to know the different sections in order to pay fairly or even get money back. Nobody likes paying taxes, but we live under the Spanish tax system, which means we have to subtract a percentage of our income:
- Up to 12,450 euros: the applicable rate is 19%.
- From 12,450 to 20,200 euros: the rate is 24%.
- From 20,200 to 35,200 euros: the rate is 30%.
- From 35,200 to 60,000 euros: the rate is 37%.
- More than 60,000 euros: the rate is 45%.
As Banco Santander tells us, which has its own personal income tax calculator, we must keep in mind that: “Personal income tax is paid once a year during the income campaign, which generally takes place between the months of April and June. On these dates the income tax return for the previous year is made. However, throughout the year, many taxpayers have already paid part of the personal income tax; either by deductions from your monthly payroll, or by quarterly declarations to the Treasury for the self-employed. If the withholdings were less than what is necessary to pay the personal income tax, the tax return will be due; However, when the deductions have been greater than expected, the declaration will be returned.
Knowing that the IPRF is a tax that will end up being one that will make a notable difference in every way:
- Direct, since it requires obtaining income as a manifestation of the taxpayer’s economic capacity.
- Personal, since it refers to a specific person (a natural person).
- Periodic, since it is presented every year, for those who are obliged to do so (income tax declaration campaign).
- Progressive, that is, the greater the economic capacity, the higher the percentage of tax payable.
- Subjective, because it takes into account the personal and family situation of the taxpayer.
Taking into account these features of personal income tax, we can begin to prepare for its adjustment for the rest of the year. Knowing that what we don’t pay now, we will pay later and in a less pleasant way. It’s better to be realistic and not suffer the consequences of a tax that we all end up paying.
