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The French are aware of how their country works. They know taxes are important, to finance services and to carry out a redistribution policy. However, no one likes to lose part of their income, obviously.
Often we hear that France is one of the countries with the most complex and strict tax system. However, this would mean forgetting that there are numerous reduction devices. We can cite tax credits, reductions for children or even exemptions on certain incomes. Before the end of the year, how can you best reduce your resources from tax?
Pay less taxes in 2025
The year 2024 will soon be behind us. Soon, spring will be here, with the annual income declaration. But before getting there, it is important to reduce your 2025 tax burden before the end of 2024. And we’re not just targeting the wealthiest households. Indeed, tax exemption is for everyone. However, it is essential toactivate the devices before the end of the year.
To start, if you want to pay less taxes while doing a good deed, we advise you to make donations. The discounts are very attractive. For example, for an organization helping people in difficulty (like the Red Cross), you can benefit from a 75% reduction up to 1,000 euros.
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It is a little less interesting for general interest organizations (like Unicef). Indeed, the reduction is 66%, up to 20% of taxable income.
Devices to know
You can optimize your taxation thanks to your Retirement Savings Plan (PER). In fact, the payments you make into this account are deductible from your taxable income. The maximum amount to deduct depends on your socio-professional category. For example, for employees, the ceiling is 10% on taxable income from the previous year.
Otherwise, you can opt for Small and Medium Enterprises (SME) capital investment. Certainly, this type of investment is risky, it exposes you to losses. But if you believe in it, you can get up to 18% of the invested amount in tax reduction.
Two tips: mutual funds and SCPIs
THE Mutual funds for innovation (FCPI) and local investment funds (FIP) can also reduce your taxes. As with the previous point, you benefit from an 18% reduction on your investment. On the other hand, the immobilization of your funds takes a long time (seven to ten years). Moreover, the risk is real, you can lose your capital.
Finally, the Civil Real Estate Investment Companies (SCPI) are an alternative to direct real estate investment. Certain SCPIs, called tax SCPIs, allow you to benefit from tax exemption schemes such as the Pinel law or the Malraux scheme. This allows you to diversify your assets while reducing your taxes. But, be careful, you experience a blocking of invested funds (for ten to fifteen years).
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There are therefore several ways, in France, to pay less taxes. Find out and choose those that meet your expectations and goals.
Source: Boursorama
