These are the personal deductions that can be made in the Annual Return

In each fiscal year, taxpayers have the right to reduce personal expenses when submitting their Annual Return.

To make it effective, you must have the invoice for each service purchased and have made payment by electronic transfer, credit card, debit card or personal check.

The Tax Administration Service (SAT) indicated that medical expenses can be deducted, may include medical fees, dentistry, psychology, nutrition, nursing, treatments, disability or disability expenseshospital expenses, medicines included in hospitalization bills (not pharmacy receipts), clinical analyses, laboratory studies or prostheses, purchase or rental of devices for recovery or rehabilitation, graduated optical lenses (up to an amount of 2,500 pesos ).

Funeral expenses can also be deducted; funeral expenses that do not exceed the annual Measurement and Update Unit (UMA) for the year to be declared are deductible. The service can be for the taxpayer, his or her spouse or common-law wife, as well as for parents, grandparents, children and grandchildren.

Similarly, includes non-onerous or remunerative donations granted to institutions authorized for this purpose and to the Federation. The limit is up to 7% of the cumulative income of the immediately preceding fiscal year for those granted to authorized donees and up to 4% for those granted to the Federation.

Regarding tuition, the amount paid for each of the children must not exceed the following annual limits: preschool, 14,200 pesos; primary, 12,900 pesos; secondary, 19,900 pesos; technical professional, 17,100 pesos; high school or its equivalent, 24,500 pesos.

School transportation expenses apply when this is mandatory or when said expense is included in the tuition.

Complementary contributions to retirement include voluntary contributions made directly to the subaccount.

Also special and personal savings accounts are deposits that are based on a personal plan related to age, retirement or retirement, whose amount does not exceed 152 thousand pesos in the year.

Medical expenses insurance premiums, Premium payments for medical expenses insurance complementary or independent of public health services are deductible.whose beneficiaries are both the taxpayer and his or her spouse, common-law wife, ascendants or descendants in a straight line.

Mortgage loans, the actual interest accrued and effectively paid on loans with the financial system, Infonavit or Fovissste, among others, are deductible.

The total amount of personal deductions (except medical expenses due to incapacity and disability, voluntary contributions and complementary retirement contributions, deposits in special savings accounts and tuition fees) cannot exceed five Measurement and Update Units (UMA) per year for the year. to declare or 15% of your total income including exempt income, whichever is less.

Taxpayers who paid taxes in the Simplified Trust Regime during fiscal year 2023 cannot apply personal deductions.