Post by nafizcristiano2 on Feb 15, 2024 0:06:45 GMT -5
The real interest on a mortgage loan represents the return obtained on the mortgage payment, after deducting the loss in value due to inflation. These more accurately reflect the true interests, since the money does not have the same value at the time of the loan as when it is returned. The actual interest can be deducted in the Annual Declaration, something convenient if you want to recover a little of what you pay for your mortgage loan. How to calculate real interest? Real interest is equivalent to the result of subtracting the annual inflation rate—which in December 2022 closed at 7.86% ( Banxico )—from the interest on your mortgage loan. That is, if your mortgage rate is 10% and the inflation rate was 7.82%, what you can deduct is 2.18% of real interest. When and how to deduct real interest? The refund of real mortgage interest must be requested before April 30 , the deadline for submitting the Annual Declaration .
To know the precise amount, the financial institution that granted the mortgage loan must issue a tax receipt, known as a certificate of interest , which shows the amount of actual interest paid. Eye! Although the SAT system has this information pre-loaded, it is important to have proof of interest to compare and verify that the amount is correct. How to deduct real interest if there is co-creditation? In this case, financial institutions assume that the real interest was paid by the credit holder—as they are not sure Bahamas Email List who contributed more and who less—which is why a single certificate or receipt is provided. Limitations when deducting the real interest of your mortgage loan 27573053_Offer to exchange house for cash money between agent and userAs stated in article 151 of the Income Tax Law, it is possible to deduct mortgage interest as long as the amount of the loans does not exceed 750,000 Investment Units (Udis); that is, $5,820,954.75 considering that until March 2023 the value of the Udi was $7.761273 ( Banxico ). If this limit is exceeded, the deductibility will be reduced proportionally to the excess over said amount. The actual interest on a mortgage is subject to the limit on personal deductions; That is, this amount—along with other personal deductions— cannot exceed five annual Measurement and Update Units ($189,222) or 15% of total annual income, including exempt income.
Steps to deduct your mortgage 1. Ask the financial institution to issue you a certificate of real interest , a tax receipt that will serve as evidence to deduct these resources and which details the amount of real interest paid. 2. Check that the return of actual interest, plus the sum of other possible deductions included in the annual declaration, is not greater than 15% of the annual income or five annual Units of Measurement and Update ($189,222). 3. Before starting your return, verify all the data to avoid surprises or having to correct them later. Check that the institution granting the mortgage has registered your RFC correctly. Other information that you should also review when submitting the return—and that must be correct on the tax receipts—is the location of the property and the amount of nominal interest accrued. 4. Avoid deducting concepts other than the real interest of the mortgage loan , such as insurance, surcharges, ordinary interests, financial services and fees, among others. 5. Try to deduct the payment of your mortgage loan in the following fiscal year in which the property was purchased , so you will obtain a benefit or credit balance during the entire period that the mortgage was paid. We advise you to invest time in deducting the real interest from your mortgage loan and not let it pass you by.
To know the precise amount, the financial institution that granted the mortgage loan must issue a tax receipt, known as a certificate of interest , which shows the amount of actual interest paid. Eye! Although the SAT system has this information pre-loaded, it is important to have proof of interest to compare and verify that the amount is correct. How to deduct real interest if there is co-creditation? In this case, financial institutions assume that the real interest was paid by the credit holder—as they are not sure Bahamas Email List who contributed more and who less—which is why a single certificate or receipt is provided. Limitations when deducting the real interest of your mortgage loan 27573053_Offer to exchange house for cash money between agent and userAs stated in article 151 of the Income Tax Law, it is possible to deduct mortgage interest as long as the amount of the loans does not exceed 750,000 Investment Units (Udis); that is, $5,820,954.75 considering that until March 2023 the value of the Udi was $7.761273 ( Banxico ). If this limit is exceeded, the deductibility will be reduced proportionally to the excess over said amount. The actual interest on a mortgage is subject to the limit on personal deductions; That is, this amount—along with other personal deductions— cannot exceed five annual Measurement and Update Units ($189,222) or 15% of total annual income, including exempt income.
Steps to deduct your mortgage 1. Ask the financial institution to issue you a certificate of real interest , a tax receipt that will serve as evidence to deduct these resources and which details the amount of real interest paid. 2. Check that the return of actual interest, plus the sum of other possible deductions included in the annual declaration, is not greater than 15% of the annual income or five annual Units of Measurement and Update ($189,222). 3. Before starting your return, verify all the data to avoid surprises or having to correct them later. Check that the institution granting the mortgage has registered your RFC correctly. Other information that you should also review when submitting the return—and that must be correct on the tax receipts—is the location of the property and the amount of nominal interest accrued. 4. Avoid deducting concepts other than the real interest of the mortgage loan , such as insurance, surcharges, ordinary interests, financial services and fees, among others. 5. Try to deduct the payment of your mortgage loan in the following fiscal year in which the property was purchased , so you will obtain a benefit or credit balance during the entire period that the mortgage was paid. We advise you to invest time in deducting the real interest from your mortgage loan and not let it pass you by.