Profits and Personal Assets: Criteria for Accurate and Efficient Tax Completion

Earnings: Points must be verified before completion

When it comes to income tax, the first step is to confirm that all deductions are reported and supported. Family expenses must be updated and personal expenses – prepaid medications, life and pension insurance, mortgage interest, donations, medical fees and education – must be accurately reported.

I also suggest reviewing perceptions surrounding the consumption of foreign currencies and digital services. These are amounts that, if not allocated, could alter the final result. For those who bill as self-employed or carry out an economic activity, it is important to reconcile the withholdings reported by customers with their own records, as any discrepancies will be recorded by the AFIP control system.

Personal assets: the relevance of the financial situation

When it comes to private assets, the focus of the analysis is on wealth creation as of December 31st. I recommend checking bank balances, financial assets and short-term liabilities, as each element can change the tax base.

Not all financial instruments are treated equally for tax purposes. Some fixed conditions, mutual funds or securities can be achieved or exempted, so it is advisable to evaluate the composition of the portfolio before closing. It is also important to check property and vehicle valuations to ensure they comply with legal parameters. Debts existing at the time of closing must be taken into account when determining the tax, if they are predictable.

The utility of a prior projection

By conducting a simulation of earnings and personal assets before closing, you can anticipate differences, correct omissions, and determine whether it makes sense to realign assets or adjust advances. It’s an example that provides clarity and avoids surprises later.

Diploma

A well-prepared financial statement is a control and planning tool. By carefully analyzing the information, reviewing each deduction and assessing the financial situation, you can adequately meet your obligations while avoiding paying mismatched amounts.

Natalia M. Rodriguez

Cell: 15-4418-6195