Tax and Deductions

[r3roble]

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you can file sa bir then declare lang that you are head of the family. nga ikaw ra ang gabuhi sa imong family with no other means of income. by that i think ma lesser imo i pay..but being single gud dako jud ang tax ana..but try lang ask sa bir for your tax to pay and to other designated agencies concern adto lang pangutana kay tagaan ra ka ana nila table based sa imong salary and how imong deductions..

with RA 9504, single and married nalang ang classification natong mga employees. kay parehas tanan nga P50,000.00 ang personal exemption...

[r3roble]

How do you apply for dependents to get a tax-exempted amount? I have 2 dependents and I need the money for paying bills. I can't shoulder it without the exemption. The money I'm receive is good for 1 single guy with free food and housing.

Your HR can file this for you.
Just fill up BIR form 2305 (ftp://ftp.bir.gov.ph/webadmin/forms/2305.pdf) and attached your qualified dependents' birth certificate.

[rev]

Thanks jackdit! Its my first time to work and I was thinking if I could get a tax-break. As I talked to my Team Leader he told me that you can only apply exemptions either you have child (by blood or adopted ones) or your parents are unable (jobless perhaps) to work.

In my case, they told me that it 'would be' denied. Sadly, with the terms mention I might not take a slice of taxes into better use. Hopefully, I can adjust to these environment fast and longer to gain enough money to start a business. That dream is a long way from now, so I'll make a few steps to advance myself and have a stable income for our future.

Honestly, I don't like the Philippine's Programs in running the country. Its obsolete to our daily expenses. We are just a few payslips away from the street (quoted from someone else) and I always admire those people sitting and traveling all day long just to earn a living. Handsdown!

We know that we are tax to help fund the government of its duties and gain minor benefits for the future... and take the crap out of senseless dorks in office.

Thanks sa link and quips guys.

Busy kaayo pero basig materm ko anytime soon. Rawr! (Unsaon pag spoiler)

[Scott Bernard]

Naa ni sa akong libro, sa Income Tax... Wala man nako diri ang book, naa gebilin nako sa leyte..

Maayo unta if naay CPA or any business course maka post sa actual computation... Ang atong tax system man gud, progressive, dili siya linear. Magka dako imong sweldo, magka dako ang tax percentage. Tax is a burden, pero ang tax kay ideally directly proportional sa atoang capacity to pay.

About sa bonuses, including 13th month, Tax-Free ni siya, as long as ang total bonuses you receive within the fiscal year is NOT MORE than 30K.

Sample: Within the fiscal year kay ang imong bonus ra jud nadawat kay : 15,000 php, then tax free ni siya.

Pero if for the year daghan kag madawat nga bonus:

Midyear bonus (14th month): 15,000
Productivity Bonus: 15,000 (Ang Midyear bonus ug PB kay tax free ni cia)
13th Month (Compulsory by law) 15,000
15th Month bonus (december): 15,000 Starting 13th month down, naana ni ciay tax,
Christmas Gift : 3,000 im not specific pero around 33 to 34%

TOTAL BONUS per year : 63,000


Pag IBIG:

Ang required by law nga contribution per employee is 100php per month, then counterpart sa company kay 100ph.

Question:

1. Pwede ba voluntary magpa saka sa imong Pag Ibig monthly contribution?
Yes! It is allowed, but the company counterpart stays the same.
2. What are the advantages nga pa sakaan ang personal contribution?
First, if you plan to make a Housing Loan, the higher your contribution, the higher amount of loan
you can avail. Of course, sa Multi Purpose Loan, mas dako imo TAV (total accumulated value), mas
dako ka ug ma loan, even bigger sa SSS loan if dako jud ka ug TAV
Secondly, Twenty (20) years after nga na Pag Ibig Member ka, you now have the option to
WITHRAW the whole amount, PLUS dividends/interests. Imagine if dili ka magpa saka sa imong
monthly contribution, 100per month ra gihapon ka, plus 100 sa company. Twenty years after, around
50,000 php ra imong madawat... Gamay ra noh? IF you will increase your contribution to 300per
month, plus 100 sa company... 20 years after, naana kay around 100,000 php...

3. How can we increase our monthly Pag Ibig contributions? Approach your Accounting/Finance department for automatic deduction on your payroll.

SSS:
Better check sa ilang website. Naa ra silay limit sa SSS monthly contribution basing sa employee's salary

I'm not a Commerce graduate, pero if there's someone who can expound my explanations, much better!

[Scott Bernard]

Ako gani, even if naa koy yearly salary increase, dili nako mag tan aw sa GROSS PAY nako... adto nalang ko mag tan aw sa NET PAY...

Magka dako imong sweldo, magka dako ang TAX PERCENTAGE deduction!

[s3xyp1nk]

nice thread...mao pud ni akong problema 2k+ akong tax,,if naa holidays muabot pa dyud 3K every salary.. sakit na kau sa bu-ot..nya kung muadto kos government office la pa dyud ayo ang service,,asa naman diay akong tax niadto??

at least diri nga info, makakita tag way or idea unsaon para mugamay atong tax

[Scott Bernard]

If walay mag post diri nga CPA, accounting stud, or business stud sa tax computation, I'll post it soon, when I get my book next week...

nice thread...

at least diri nga info, makakita tag way or idea unsaon para mugamay atong tax

Miga, one way para mogamay (a little) imong tax, is manganak ka...

If ang imong status kay SINGLE, HEAD OF THE FAMILY, or MARRIED without a child, parehas ra ang imong tax exemption.

Then, magka dako imong sweldo, dili lang magka dako ang imong tax, hasta ang percentage deduction,

For me, one way unsaon pag kontra sa tax, is having sideline business...

[rev]

If walay mag post diri nga CPA, accounting stud, or business stud sa tax computation, I'll post it soon, when I get my book next week...



Miga, one way para mogamay (a little) imong tax, is manganak ka...

If ang imong status kay SINGLE, HEAD OF THE FAMILY, or MARRIED without a child, parehas ra ang imong tax exemption.

Then, magka dako imong sweldo, dili lang magka dako ang imong tax, hasta ang percentage deduction,

For me, one way unsaon pag kontra sa tax, is having sideline business...

Business are also tax. They recommended to go FREELANCING online and the only thing you'll feel is how long will you get it not how much are you getting.

Bro, nana imong master book. I wanna see what you have to tell

[nijazared]

sakit jud ni sa buot kay lisod kaayo makit.an kung asa padung ning tax nato..me i applied for tax exemption around september pero right now my tax is just like the way it was before katong single pa ko...nahbong jud ko...i guess i will just wait until january kung unsa jud mahitabo ani...then i'll ask my friend to check if the computations are correct...i have all my payslips in tact...

kinsa CPA dire maka hatag ug simple computation? LOL!

[kit_cebu]

pagka-pait nalang sa double-pay ug OT sa pasko ug bag-ong tuig..... kadako sa deduction....