Blog Posts on income tax

How will my first salary be taxed? by TaxAcctgCenter on May 21, 2012Do we get tax deducted from our first job?

One More Month to Go…Some Last Minute Reminders Before the April 15 Tax Deadline by The Pinoy CPA on Mar 16, 2012Well, technically, that is “the April 16 tax deadline”. Since April 15, 2012 falls on a Sunday, the deadline is moved to the next working day. Oh well, but does one day really matter? Well, for us CPAs who are very busy this tax season, a...

Taxability of Rent paid in kind by TaxAcctgCenter on Mar 14, 2012Under the law, rent payable on a lease may be made in kind. I want to ask if for example the lessor improves the rented property and the lessor accepts the renovations made as payment of rent, is this taxable as income of the lessor?

Ho to tax rent paid in kind? by TaxAcctgCenter on Mar 14, 2012Under the law, rent payable on a lease may be made in kind. I want to ask if for example the lessor improves the rented property and the lessor accepts the renovations made as payment of rent, is this taxable as income of the lessor?

Should Voluntary SSS Contributions Be Taxed? by Definitely Filipino on Dec 3, 2011Apparently, a genius from BIR came up with the idea of taxing voluntary contributions to SSS, GSIS, Pag-IBIG, and PhilHealth. Contributions subject to tax are those above the mandatory minimum contributions. This started July this year. By law, these...

How to Compute your Income Tax by Esta Es Mi Vida by Mico on Aug 3, 2011A familiar question that has been raised by many every time they see their monthly payslips and/or when they have to file the annual Income Tax Return (ITR) to the Bureau of Internal Revenue (Kagawaran ng Rentas Internas), How to compute the tax rate...

Income taxation and tax rates in the Philippines by Pinoy Money Talk on Apr 24, 2011Year after year, April 15 is a date millions of Filipinos dread. It is because this date is the annual deadline to file income tax returns. If you were able to make your own Income Tax Return (ITR) because you fully understand Philippine taxation law...

Will Philippine stock market players need to file tax for their gains next year? by Finance Manila on Mar 9, 2011A new BIR scheme is nudging professionals to declare income which was not required in the past. The BIR denied that hat they are asking private citizens to file a “personal” Statement of Assets and Liabilities and Net worth or SALN, which...

Business 101: Know Your Taxes by Emievill.com on Aug 28, 2010One of the most basic things an entrepreneur (or would – be entrepreneur) should learn are the taxes that he or she will be required to pay if he or she puts up a business. And yet, I’ve seen a lot of businessmen depend entirely on their accounta...

Earned income through real estate investing by Foreclosed Real Estate Philippines on May 31, 2010This is the second part of a series on the three types of income one can get through real estate investing. If you missed the first part, please read it before reading this. You can find part one here – How to get portfolio income through real esta...