Loans for freelancers are included in the income deductions
Spring is the time that the Tax Agency has chosen to regularize our fiscal situation. Specifically, we have from April 4 to July 2 as the deadline to confirm the draft. As a novelty, this year the “Father” Program disappears and gives way to the “Renta Web” program to be able to make the declaration via online. One way to take advantage of this process is to declare the loans for freelancers that we have requested this year, because their interests are deductible . In this case, if we have requested a loan, a loan or a grant and we have the supporting documents, we can present them in our income statement and we will save.
Main deductible expenses of a self-employed person
Sometimes we can have difficulties to know what expenses we can include in the declaration of the self-employed, because not all are considered as deductible. Broadly speaking, what we can include must be expenses linked to the economic activity carried out, be conveniently justified and, in addition, recorded in the accounting books . The most common expenses that we can include in our declaration of self-employed income are:
- The salaries and expenses of the staff . As well as extra pay, diets and travel expenses. Also enter the costs in training, personnel accident insurance or compensation for termination of contract. In addition, we deduct Social Security expenses borne by the company and contributions for common contingencies.
- The purchases of raw materials, merchandise, fuel, packaging and office supplies are what are known as operating consumptions . We can also include rents, fees, leasing fees or technical assistance expenses in the declaration.
- Some taxes such as real estate (IBI), the IAE and other taxes and non-state surcharges. Within the financial expenses, we can incorporate in the declaration the interests of the loans and credits for the self-employed . As well as the surcharges for postponing payments and interest for late payments to the Treasury.
These are just some of these deductible expenses, since there are many others such as the services of independent professionals (lawyers, notaries, economists …), for example.
The income statement is a basic document when requesting financing
The income statement of the self-employed includes loans and loans for freelancers include the income statement. That is to say, at the time of requesting financing for companies and freelancers, the declaration of the rent is one of the documents that we must present. Although it depends on the amount we request and the entity we go to, the documents necessary to access financing for companies and freelancers include, in addition to income, the declaration of assets, the registration document as self-employed and a proof of income stable. In addition, you can request the last three Social Security payments, the receipts of debts with other banks or lenders and a document certifying the age of our business.
You can also ask us for the annual summary of VAT, the VAT returns for the current year, the annual IRPF summary and the payment of the self-employed person’s receipt. As we see, just as the income statement of the self-employed includes more data than that of the salaried workers, the information that we must provide to access loans for the self-employed is greater than that which the individuals must contribute.