{"id":9887,"date":"2018-11-02T12:00:08","date_gmt":"2018-11-02T17:00:08","guid":{"rendered":"https:\/\/quadranslawandfinance.com\/?p=9887"},"modified":"2018-11-02T11:44:47","modified_gmt":"2018-11-02T16:44:47","slug":"tax-losses-for-fiscal-persons","status":"publish","type":"post","link":"https:\/\/quadranslawandfinance.com\/en\/blog\/tax-losses-for-fiscal-persons\/","title":{"rendered":"What are tax losses for fiscal persons?"},"content":{"rendered":"<p><span style=\"color: #000000;\">A tax loss appears when a company spends more than the income it receives, that is, when the initial capital that was contributed to the company, instead of duplicating, absorbs surplus expenses. <\/span><\/p>\n<blockquote>\n<h3 style=\"text-align: center;\"><span style=\"color: #000000;\">Article 57 of the Income Tax Law (LISR) defines tax loss as: \u200b &#8220;the difference between the cumulative income for the year and the deductions authorized by this Law, when the amount of the latter is greater than the income.&#8221;<\/span><\/h3>\n<\/blockquote>\n<p><span style=\"color: #000000;\">*Natural persons with professional activities that undergo tax losses have the right to diminish these with the generated fiscal utilities over the following 10 fiscal years.\u00a0 <\/span><\/p>\n<p><span style=\"color: #000000;\">A tax loss is the result obtained from the subtraction between the \u200bcumulative income of the performed fiscal year, and the \u200bauthorized deductions corresponding to the same period.\u00a0 The income received by the company is that authorized by the law on the matter and is called \u200bcumulative income.<\/span><\/p>\n<p><span style=\"color: #000000;\">\u200bOn the other hand, the expenses received by the company in the same fiscal matter are known as \u200bauthorized deductions.<\/span><\/p>\n<h5><span style=\"color: #000000;\">\u200b*The expenses made must fulfill certain requirements and some of these are simply not authorized as deductibles.\u00a0<\/span><\/h5>\n<h3 style=\"text-align: center;\"><span style=\"color: #000000;\">For it to be considered a tax loss, it is important for such deductions to be greater than the income, otherwise it would rather be a utility.\u00a0<\/span><\/h3>\n<p><span style=\"color: #000000;\">The corresponding operation is the following:<\/span><\/p>\n<p style=\"text-align: center;\"><em><span style=\"color: #000000;\">Cumulative income of the fiscal year \u200b- \u200bauthorized deductions = tax loss.<\/span><\/em><\/p>\n<p><span style=\"color: #000000;\">The losses are personal of the taxpayer that generates them and cannot be transferred toanother person, not even as a consequence of the alienation of the business; these tax losses can only be reduced from the fiscal utility derived from the own activities to which this refers.\u00a0<\/span><\/p>\n<h5><span style=\"color: #000000;\">*For purposes of amortization, the Income Tax Law (LISR) permits the updating of such tax losses.\u00a0<\/span><\/h5>\n<p><span style=\"color: #000000;\">If the taxpayer does not reduce the tax losses of the previous fiscal years, despite the possibility of doing so, he or she will lose the right to do it in the following years, and even for the amount in which it could have been made initially.\u00a0<\/span><\/p>\n<h2><span style=\"color: #000000;\">How to use a tax loss?<\/span><\/h2>\n<p><span style=\"color: #000000;\">Applies or amortizes interim payments of the following fiscal year to which the loss is generated. Every time the subject is a natural person, it must be applied to a single business and professional activity.\u00a0<\/span><\/p>\n<h2><span style=\"color: #000000;\">What is required to use tax losses?\u00a0<\/span><\/h2>\n<ul>\n<li><span style=\"color: #000000;\">Have submitted the annual return of the year in which the loss was generated.<\/span><\/li>\n<li><span style=\"color: #000000;\">In the regime of business and professional activity, the application of the tax loss must be defined once determined the fiscal utility of the period to which it corresponds.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">If you are experiencing a tax loss, approach <strong>QuAdrans law and finance <\/strong>to be provided with advice from the accounting service of our certified accountants.\u00a0<\/span><\/p>\n<h4 style=\"text-align: center;\"><span style=\"color: #000000;\">Legal and Accounting Consulting in Playa del Carmen<\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>A tax loss appears when a company spends more than the income it receives, that is, when the initial capital that was contributed to the company, instead of duplicating, absorbs surplus expenses. Article 57 of the Income Tax Law (LISR) defines tax loss as: \u200b &#8220;the difference between the cumulative income for the year and [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":9862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-9887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accountant"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What are tax losses for fiscal persons? - QuAdrans law and finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/quadranslawandfinance.com\/en\/blog\/tax-losses-for-fiscal-persons\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"What are tax losses for fiscal persons? - QuAdrans law and finance\" \/>\n<meta name=\"twitter:description\" content=\"A tax loss appears when a company spends more than the income it receives, that is, when the initial capital that was contributed to the company, instead of duplicating, absorbs surplus expenses. 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