1. The specific amount of children's education expenses: According to the individual income tax law, the pre-tax deduction standard for children's education expenses is not more than 1.2 million yuan per child per year. If the children's education expenses exceed this standard, they cannot enjoy the pre-tax deduction of the excess.
2. Income tax rate: The personal income tax rate is divided into seven grades, ranging from 3% to 45%. If your children's education expenses can be deducted before tax, then your taxable income will be reduced accordingly, thus reducing your personal income tax.
3. Other personal income tax deductions: According to the personal income tax law, in addition to children's education expenses, there are other personal income tax deductions, such as interest on housing loans and support for the elderly. If you enjoy these deductions at the same time, you will have to pay less personal income tax. Pre-tax deduction of children's education expenses is a preferential tax policy, and the specific amount of refund depends on your specific situation. It is recommended that you carefully check the relevant regulations and requirements when you declare personal income tax to ensure that you enjoy the tax benefits you deserve.