Small "Losses" That Keep The Men Poor...

For: Camilo Pinto
Publisher



Hello,

I have the firm belief that a very important part that all the persons we must think about how to optimize inside our personal finance is everything what has to do with the fiscal topic: how to diminish in a legal way the taxes that we have to pay.

Unfortunately in my experience like financial planner of last 7 years, I me could have realized that the majority of the persons only falls down in the account and begins thinking about this topic when often it is already much late.

For the cases that more I observe, that is in Colombia, the persons begin thinking about this between March and May of the year in which they have to pay the taxes, when really the strategy to optimize them must have begun more than one year earlier. Is not that true?

Namely they begin thinking about the taxes when the actions and strategies that they could already have used do not apply, because the tax year it happened already and the only thing that can be done is to act of a way it reactivates. Said about another form, they limit themselves to presenting his income statement and praying so that the taxes that he has them to pay are not so high...

And they ask him the book-keeper to help them to that I looked for the way of optimizing it when often what it is already possible to do is very limited!

I am sure that to achieve a fiscal optimization the Latin Americans we must learn to think in a proactive way, or saying of another form to anticipate us to the facts before these it is we who are anticipated.

Not to leave that the things happen to us for surprise, but to do everything what is to our scope to optimize his taxes of a legal way and making use of all the hardware that could be used for this end.

My recommendation is that all the persons feel on having begun every tax year to do a proactive strategy with the person who advises them with these topics.

If he is responsible for taxes in Colombia and if he is interested in that we help in all these topics fiscal and related to the real optimization of his income statement call us (571-6914692 or send to us an email to with his phone and cell phone.

For the case of the Colombians my recommendation would be to have this meeting of tributary planeación before finished every January.

Thus everyone would have the whole year to implement the strategy of fixed fiscal optimization in accordance with his particular situation: taxable income, patrimony, cash flow, etc.

I hope that me I should can explain: to do this well implies gliding almost with one year and a half of anticipation. Does he realize?

Why do I say this...

Because if we bear in mind that in Colombia we must present the income statement between April and May of every year and that this declaration alludes to the previous tax year, of that time there it is the time with which we must anticipate ourselves to this payment.

Now then, for the case of many persons I do not believe that it is sufficient in spite of meeting the person indicated in tributary matter at the beginning of every year to plan the strategy, but if you are like almost all the persons that I know, in his life there happen mishaps, contingencies and not contemplated situations that become necessary a new meeting that I call of progress cross-check and that thinks about how to assure to us that the strategy should go for good way and to adapt ourselves to the changes that could have happened or that we know that they are going to happen and that earlier we did not have the minor idea that they were going to spend.

The situations not contemplated in the planeación and that I realize that more they appear to the persons him and that they can carry them out in an important way in his planeación and tributary optimization they are:

	Extraordinary bonds paid for his employer.
	I change in his income.
	I change in the form as it receives his income: if I enter to the world of the plans of "flexible compensation".
	Indemnifications or liquidations. (If you are in the situation of a possible indemnification and want to receive help send an email to Podrá to have at his disposal possibly the most efficient and powerful strategy that exists at present in Colombia for these cases. And the best thing of everything is that it will be able to receive the advice straight from the creator of this strategy: Jorge Arenas, financial planner certified with more than 6 years of experience and member of the team of Planning Advisors)
	Heredities
	Buys of countable assets.
	Sale of countable assets
	Beginning of societies

Due to the big impact that this type of situations can have from the tributary point of view the fact is that it is vital according to my opinion to have this second meeting of review of progress.

My recommendation is that it does not save in this of the fiscal planeación... often the things they go out more expensive for wanting to save a few weight or dollars. In the last year I have already seen straight several cases - many of them of persons very near to me - that there has happened to them one of these two situations:

1.	They end up by paying high sums for fines concept, for not taking seriously this of the tributary planeación or for taking the decisions without the council of an expert, but rather for the recommendation of a related person who with all the good faith of the world suggests him things, but without really having knowledge in what they recommend.
2.	They pay very high totals (over what really they should pay) in taxes for the work has never taken of implementing a heap of available strategies and that had done his easiest financial life to them.

I have always believed that the recommendations have to come from the one who is authorized to give advices for every topic in particular, because we have all opinions and the majority of the times when they do not come from anybody who really knows about what he is speaking, they do not serve for anything.

Now then, I want to show him in a very abridged way 5 mechanisms between many that are available and that you should be being useful to improve his fiscal topic:

1. Decrease of the retention in the source that you pay product of his monthly revenue

Make use of the tributary benefits that have the voluntary funds of pensions and the accounts AFC (you count for the promotion of the construction) to lower his taxable base and this way to pay less retention in the source.

This means that you have the option to destine 30 % of his taxable income of the year to any of two figures that I told him previously to pay less retention in the monthly source. The ideal way of doing this is by means of a voluntary contribution by means of which you do in a monthly way and which normally manages it across payroll of the company for which works.

Thus, he invests his silver for some of the targets that are important and strategic for you and at the same time it works with silver of another person, that is to say, it works with silver of the DIAN (Department of Taxes and National Customs - of Colombia)

As well as it heard it with silver of the DIAN. Then, you use POP'S beginning (Silver of Other Persons) that we saw in the edition Not. 5 and that it can check in the following link:

To make use of this and to work with the silver of the DIAN, is a very good business!!!

Allow me to explain to him why?

To you to make use of the advantages that the Colombian legal frame offers with the voluntary pensions funds, what the DIAN is saying to him is that if you invest up to 30 % of his taxable income, of that time the total that you are going to pay for retention in the source it is going to diminish and this saving between what he was paying earlier and what he would pay now can be his if it leaves his inverted money 5 years.

Literally speaking what they are saying to him the fact is that the DIAN gives him this silver that you saved yourself to an interest of 0 % (zero) and if you do not withdraw it within 5 years, then this silver and the yields generated by this silver ARE HIS!!

That is to say they are paying to him for investing! Obviously he needs to have a few relatively healthy personal finance and have used the financial intelligence that he has been acquiring after all his revenue does not wear out to be able to make use of this figure.

Of what does it serve to him that these benefits exist if for not very good administration of his income he cannot make use of them?

And what to say about the increase that this means in the profitability of the contributions that you are doing. If you have the box do not think it any more and do it! It is one of the best tributary and financial business that you can carry on!

Also, nowadays the possibilities for the structure of briefcase of investment mounted on the legal structure of the voluntary funds of pensions it is very interesting.

Although this is a topic of another bulletin, if he wants to have more information on this matter send an email to.


2. To eliminate of the retention in the source of 7 % of financial yields

Since I mentioned him earlier, when you do investments across briefcase mounted on the legal structure of the voluntary funds of pensions and leave that these investments mature for a top period at the age of 5, then the retention that normally they would charge from him for his financial yields and that for the case of Colombia is 7 %, it would happen to be a ZERO.

Namely the financial yields of the contributions that it realized would begin to be exempt revenues!

Why to pay more taxes if it cannot do it?

3. If it is used, decrease of the percentage that is applied for calculating of the retention in the monthly source

There are two types of systems with which the retention is calculated in the source. The system 1 applies normally the persons who take less than one year as personnel of some company. The system 2 is the system that almost always is applied for the persons who take more than one year working for a company and in the majority of the cases it is more suitable in tributary terms.

For the previous thing, if you take more than one year working for a company and 1 pays retention in the source for his wage level by means of the system, it is worth while that financier consults with an expert in planeación to establish if there is some way of optimizing his retefuente. If he is interested in that we help with this does not hesitate to send an email to.

Apart from the previous thing, when you are in the system 2 for the retention calculation in the source can achieve that the percentage that is calculated every 6 months with period in May and in November of every year, goes down periodically if it uses figures as the contributions to the voluntary funds of pensions and to the accounts AFC's. This way you save more money on having had a percentage minor that applies him to itself to his taxable base.

I understand that this topic can turn out to be a little heavy and complex, but I suggest him that do it to happen and to look for the way of using the strategies adapted for you!

Moreover, I believe that it is not necessary to comprise all the details, but if I believe that it is a vital knowledge to take advice!

4. Decrease in the tax of revenue that he pays every year.

As in the first mechanism on that I commented to him, it is super important that does not allow to spend unnoticed the tributary benefits that have the voluntary funds of pensions and the accounts AFC (you count for the promotion of the construction) to lower his taxable liquid revenue and this way to pay a minor value in his income statement.

5. To be provided with a real expert in the tributary topic that should work to help you to optimize his tributary situation.

It impresses me when I speak with several persons who leave the tributary topic in persons' hands that hardly are in the level of competition and tributary update to help them really with the topic of his taxes.

Moreover, many persons that I meet, for a few weight saves itself, leave that his future tributary stays in hands of a person who unfortunately does not count at the best level of tributary competition...

And this person is the one that does the income statement to them! You realize the risk that you can be running!

I have always thought that there are topics in which the cheap thing almost always goes out expensively... do not allow this to be his case.

Let's see with the same example the 5 previous points, where I try to present to him of a simple form the difference between a person who uses part of the tributary strategies that it has to the hand, versus a person who does not use them.

For effects of this example I am going to take the case of a person who earns a traditional salary of $ 5,000,000 (five millions in weight) a month and who uses the system 1 of retention in the source. (I clarify that in most cases there tends to be better to use the system 2, simply it is easier to do this example using the system 1)

The example has two columns: that of the left corresponds to a person who did not do any type of tributary strategy and that of the right to a person who yes did it.

If he observes thoroughly, to use the maximum tributary benefit of 30 % corresponding to the voluntary funds of pensions provided to this person the following benefits:

	Decrease of the taxable base of $ 3,571,875 to $ 2,625,000. Between minor be the taxable, better base because he will pay less taxes!
	Decrease of the percentage of retention in the source: from 11.78 % to 6.28 %. Again, a minor percentage is much better!
	Decrease of the payment that would do for retention in the source of $ 422,945 to $ 165,000, what represents a saving of $ 257,946 a month! These $ 257,946 turn into silver of this person and not of the DIAN, if they are supported 5 years in a voluntary pensions fund!
	Decrease of the clear income and therefore of the payable revenue tax annually from $ 6,516,000 to $ 3,210,000, what is equivalent to a saving of $ 3,306,000 in the year.

With this simple example, does not it agree with me in whom it is very costly for a person not to do a tributary planeación?

If it is like that, I ask him: Did it already initiate then his strategy of tributary optimization?

Due to the complexity of this topic, my intention with these 5 points was alone to show him that there are a lot of ways of optimizing his fiscal aspect and of being able to illustrate a small part of a very general way. I do not claim that these examples are a tributary recommendation for his case in particular.

If you need to do some type of consultation especially related to the tributary topic please do not hesitate to send an email to and with taste we will help him.

I wait like whenever the presented information helps him to take control of his financial future.

For his financial success,

Camilo Pinto
Publisher
Tel.: (571) - 6914692

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