TAx refundable or tax payable?

[kalica01]

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kinsay nkahibaw gi unsa na pagkwenta kung tax payable ka or refundable?

1 year nko sa akong gi workan run. every month tag 5h jud na or usahay 4h kapin akong tax. (single parent ko and updated). karun ana among HR na payable daw ko. so ako ang mubayad pa kai kuwang daw akong nahatag sa ila. naglibog jud ko nganu na kuwang na nuon. someone please enlighten me? someone please help. surrender nako aning kompanyaha. lami na awayun amo hr.. di pa sila mu explain ug tarong sa amo. sila pay masuko kung amo pangutan-on.

[jackdi]

Possible na Maam.

You can actually do a rough computation:

Example:

Total Gross income for the Year

Less:
-- SSS/Pag-Ibig/PhilHealth/13th Month Pay
-- Personal Exemption - Single, Married, Head of the Family (P50k)
-- Qualified Dependents - mga anak (@ P25k each)
____________________________
Net Taxable Income
===============

Aning puntuha, i based na sa bracket ang computation sa imong tax based on the net taxable income.
Sa bracket/table, tan-awa ni ay >>> BIR - Sec.24 Income Tax Rates

So ang mahitabo, ingon ani na:

Tax on Net Taxable Income (based on bracket) ----XXX
Plus % of the difference (based on bracket) --------XXX
_____________________________________________
Tax for the Year ------------------------------------ XX
Less: Witholding Tax -------------------------------- X
_____________________________________________
Tax Payable / Tax Refundable ------------------------XX
=====================================

Payable na kung mas daku ang tax for the year compared to the withheld tax.
Refundable kung mas gamay ang tax for the year compared to withheld tax.

*****
Example: If your Net taxable income is at P80k. Nya imong total withholding tax is P3,500 for example.
(under ka sa bracket 3 sa tax table)

Computation:
Tax on the first 70k ----- P 2,500
Tax on excess at 15% --- P 1,500
Tax for the Year --------- P 4,000
Less : W/holding tax ---- P 3,500
Net Tax Payable ------->> P 500


If it happens nga ang imong total withholding tax for the year is at P5,000, naa kay tax refundable nga P1,000.


wheewww! taasa ani oist.


If naa mo'y correction ani diha, please correct me lang. Rough computation ra ni.

[jackdi]

Ang monthly withholding tax is an close estimate of your annual income tax.
Naa jud chance nga mo-kuwang or mo-sobra. Ang gibuhat unta sa inyong HR or Accounting is adjust the w/holding tax payable starting from November. Aron ang imong tax is either gamay ra'g payable or refundable jud.

Anyway, i hope this helps.

[BatmanBeyond]

If naa mo'y correction ani diha, please correct me lang. Rough computation ra ni.

Yes, ur computation is correct.
To TS: Juz update here from time to tym. Pwede pud imu i-post imu monthly salary here,hehe

[jackdi]

OT:

Yes, ur computation is correct.
To TS: Juz update here from time to tym. Pwede pud imu i-post imu monthly salary here,hehe

Monthly Salary and Civil Status Boss Batman!
Kay basin siya na ang gusto sa imong Mama para nimo.

[BatmanBeyond]

OT: Monthly Salary and Civil Status Boss Batman! Kay basin siya na ang gusto sa imong Mama para nimo.

Ayaw sad ana Boss,hehe. Makabasa gani ako mama, naa ra b to sya account dri,lols!

[exmadyn]

mga bro, iuli ba tanan tax deductions kung wala kaabot ug 1 year? August ra man gud ko kutob, nya total nga gi.withhold kay around 15K. iuli ni tanan?

[Code Talker]

mga bro, iuli ba tanan tax deductions kung wala kaabot ug 1 year? August ra man gud ko kutob, nya total nga gi.withhold kay around 15K. iuli ni tanan?

regardless kung unsa ka na month kutob ga work/ga earn/ga declate ug income giremit na sa BIR. By end of Year pangayo sa imo previous employer ug Form 2316 Withnolding Tax Certificate. mahibal-an nimo did2 if naa ka refund or naa ka payable. You can use the sample computation by jackdi

[JezzyCalm]

so sala pa diay namu ron nga sayop ila gi-deduct sa amu? laina gud..

[JezzyCalm]

ingon sad q ron TS... huhuhu... naa pa daw q bayranan nila.. huhuhu... istoryans, pls help us...