TAX info and updates

[dawn]

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Pa help unta if ok lang Sir/Maam?

Employed as Full Time Freelancer and a new Employee(1month old).
Department: Online Marketing
Salary:40k
Married: not Married, but living with my fiancee and children
Dependents: 2 (Six y.o daughter and 2 months old child)


Pa tabang lang unta ko if pwede lang, just want to make sure if sakto ba ilang e deduct nko..

Second question, naa ba deduction sa freelancer?

[vincedin]

freelancers are self-employed individuals.... and if you are self-employed, then you are not an employee, and there is no employee-employer relationship with your clients. as to deductions, depende kun unsa klase nga deduction, kun SSS/Philhealth/PAG-IBIG/withholding tax on compensation kay wala ka deductions, pero pwede ka deductionan ug creditable withholding tax, only if applicable.

for the rate of 40K, deductions will be as follows:
SSS: 500/mo.
PHIC: 375/mo.
HDMF: 100/mo.
W/HOLDING TAX: depende kun monthly inyong sweldo or semi-monthly, the table below will help you compute for the withholding tax...

Pa help unta if ok lang Sir/Maam?

Employed as Full Time Freelancer and a new Employee(1month old).
Department: Online Marketing
Salary:40k
Married: not Married, but living with my fiancee and children
Dependents: 2 (Six y.o daughter and 2 months old child)


Pa tabang lang unta ko if pwede lang, just want to make sure if sakto ba ilang e deduct nko..

Second question, naa ba deduction sa freelancer?

[makotosing]

no deduction on sss phic hdmf...

[dawn]

@vincedin thank you so much! I really appreciate it...

[C.P.A.]

try this BIR Tax Calculator...
Calculators | BIR Withholding Tax Calculator

Pa help unta if ok lang Sir/Maam?

Employed as Full Time Freelancer and a new Employee(1month old).
Department: Online Marketing
Salary:40k
Married: not Married, but living with my fiancee and children
Dependents: 2 (Six y.o daughter and 2 months old child)


Pa tabang lang unta ko if pwede lang, just want to make sure if sakto ba ilang e deduct nko..

Second question, naa ba deduction sa freelancer?

[vincedin]

Suspension of BIR field operations from Dec 17 to Jan 4 (Revenue Memorandum Circular No. 83-2012, December 20, 2012)

All field audit and other field operations of the Bureau of Internal Revenue (BIR) relative to examinations and verifications of taxpayers’ books of accounts, records and other transactions shall be suspended from December 17, 2012 to January 4, 2013, except in the following cases:

1. Investigation of cases prescribing on or before April 15, 2013;
2. Processing and verification of estate tax returns, donor’s tax returns, capital gains tax returns and withholding tax returns on the sale of real properties or shares of stocks together with the related documentary stamp tax (DST) returns;
3. Examination and/or verification of internal revenue tax liabilities of taxpayers retiring from business;
4. Audit of National Government Agencies (NGAs), Local Government Units (LGUs) and Government Owned and Controlled Corporations (GOCCs) including subsidiaries and affiliates of GOCCs; and
5. Other matters/concerns where deadlines have been imposed or under the orders of the Commissioner of Internal Revenue.

read more on RMC 83-2012... ftp://ftp.bir.gov.ph/webadmin1/pdf/6...%2083-2012.pdf

[Code Talker]

Salamat sa imong thread. naa nay dala libre consulta. thumbs up

[weblizzer]

if ako married then ang wife walay trabaho, then usay bata.. mahug ba na duha ako dependents? or usa ra gihapon? kafait sa akong tax karon umaabot huhuhu.

[8_cRawlin_baby_8]

a scenario: an employee got promoted last Sept of this year, salary doubled. they say walay ma receive na tax refund, but instead payable pa sya. why man?

[vincedin]

possible sad na maam. Naa ka refund kun excess imong withholding against sa imong actual income tax, naa ka payable kun mas gamay imong withholding against sa imong actual income tax. Maybe, na-belong siya sa ikaduha nga situation, basin gamay ra iyang withholding compare sa actual niya nga income tax.

anyway, you can check it for yourself kun tinuod ba jud nga wala kay refund by doing the computation yourself.

you may use this table:

If taxable income is:............................................... ..................Tax Due is:
Not over 10,000............................................ .........................5%
Over 10,000 but not over 30,000 ............................................ 500 + 10% of the excess over 10,000
Over 30,000 but not over 70,000 ............................................ 2,500 + 15% of the excess over 30,000
Over 70,000 but not over 140,000 .......................................... 8,500 + 20% of the excess over 70,000
Over 140,000 but not over 250,000 ........................................ 22,500 + 25% of the excess over 140,000
Over 250,000 but not over 500,000 ........................................ 50,000 + 30% of the excess over 250,000
Over 500,000 .................................................. ...................... 125,000 + 32% of the excess over 500,000

a scenario: an employee got promoted last Sept of this year, salary doubled. they say walay ma receive na tax refund, but instead payable pa sya. why man?