How to Compute Income Tax of Mixed Income Earner (TRAIN Law)

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Gerard Carpizo

Gerard Carpizo

Күн бұрын

Пікірлер: 143
@mai_lovely
@mai_lovely 2 жыл бұрын
Hi Sir, I'm ur new subscriber and a freelance wanabee I learned a lot. Thanks po for these videos
@aubreydulag7463
@aubreydulag7463 2 жыл бұрын
Sir thank you kasi pinadali mo po itong topic. Akala ko magiging rapper ako na mapapa mental breakdown-yow ang utak, thank goodness i saw this video😭👏🏼 thank you po!
@gerardcarpizo
@gerardcarpizo 2 жыл бұрын
Hi Aubrey. Thanks for watching, do share with others who might need the info. :)
@bela5706
@bela5706 3 жыл бұрын
Hi sir Gerard, iam a government employee and also running a business, as public servant our agency automatically prepares and directly files our ITR to the BIR. How is that? will I file a separate form for that matter? what should i do?
@lettucehub
@lettucehub 9 ай бұрын
Ganyan din po ako..paano po kaya?
@TeacherMariePh
@TeacherMariePh 3 жыл бұрын
Hello sir! What if a person is a public school teacher and also a youtuber with less than 10k monthly AdSense earning for now, does he/she needs to file for tax as mixed-income earner ?
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Under section 34, earnings from adsense is taxable so also earning from an employer-employee relationship makes the individual required to file as a mixed-income earner.
@TeacherMariePh
@TeacherMariePh 3 жыл бұрын
@@gerardcarpizo thank you sir Gerard 😊
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
You're welcome Ms. Marie. 😊
@cjcaipang6925
@cjcaipang6925 Жыл бұрын
Sir do you have manpower/consultant who can file taxes for mixed-income earner?
@sheenismhaellim2215
@sheenismhaellim2215 2 жыл бұрын
hi gerald, i am a multiple source income earner. 1 businessand 1 contractor (online worker) how do i compute my tax rate for both?
@gerardcarpizo
@gerardcarpizo 2 жыл бұрын
Hi Sheen. For the business it would be based on the BIR Registration. You can either graduated tax rates or 8% optional income tax rate.
@cammorale5114
@cammorale5114 2 жыл бұрын
i dont get how Tax Due on Business Income on 3:16 became 200k, i thought 184k
@DefeDejeanFreyGuiral
@DefeDejeanFreyGuiral 6 күн бұрын
Any update here😂😂😂
@jaysonparena4278
@jaysonparena4278 10 ай бұрын
Do you have videos for mixed income earner deriving additional income from practice of profession?
@loreviaganon9480
@loreviaganon9480 2 жыл бұрын
hi sir, a friend of mine is working in a government as Job order (no employer employee relationship) and opted for 8% income tax rate, his salary will not exceed 250k. In november he was promoted to regular position, but still his annual salary will not exceed 250k. Can he use the graduated income tax rate both from compensation and his income from JO even though he opted for 8%.
@gerardcarpizo
@gerardcarpizo 2 жыл бұрын
Hi Vhie. Shifting from 8% to graduated tax rate is not allowed during the taxable year regardless of change in income range. Thus your friend will still pay/file 8% based on gross reciepts even if net income is below 250k for the year.
@loreviaganon9480
@loreviaganon9480 2 жыл бұрын
thank you po for your prompt reply, does it mean sir that he has to use 8% on gross receipts from his income when he was a JO and graduated tax on his income from compensation?
@mariangargantos3803
@mariangargantos3803 3 ай бұрын
4:07 bakit po naging 32% on tax due? It should be 30% po diba?
@Letzduet
@Letzduet 2 жыл бұрын
Hello, Sir. Thank you for the video. On your last example, there is no need to add a percentage tax?
@gerardcarpizo
@gerardcarpizo 2 жыл бұрын
Hi Marq. Yes, mixed income earners are also covered by percentage tax, though if the taxpayer opted to use th 8% rate for the business income no need to file percentage tax anymore.
@Letzduet
@Letzduet 2 жыл бұрын
@@gerardcarpizo thank you for the clarification, Sir!
@user-fz3en2xj2j
@user-fz3en2xj2j 3 жыл бұрын
Hi, assuming the business of a mixed income earner is using graduated tax rate and the business income were at a loss, is it still combined with the compensation income? From this, is the loss now considered a deductible expense?
@itsmeG03
@itsmeG03 3 жыл бұрын
Sir, do you have a sample computation for two employers in a year?
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Hi Gerald. As of writing this comment, videos are only one employer but will make that video soon. Thanks!
@itsmeG03
@itsmeG03 3 жыл бұрын
Thanks Sir! Really looking for guide since my situation is quite unique compare to all tutorials available right now. Kudos to these types of videos, really helpful!!!
@reg8171
@reg8171 2 жыл бұрын
hi sir if the compensation is 3M but the otehr income is consultancy and pf is less than 3M,and i am not a VAT registered, is percentage much better to compute my tax? do i need to amend my COR to VAT register
@carriemallon5665
@carriemallon5665 3 жыл бұрын
hi sir, how do i file the income tax from my business and income tax from compensation? i want to file the income tax from business online. should i inform my employer that i will do the mixed filling online?
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Hi Carrie. Yes, you may inform your employer then request a copy of your 2316, it shall be attached with your form 1701 in filing as mixed income earner.
@carriemallon5665
@carriemallon5665 3 жыл бұрын
@@gerardcarpizo Hi sir thanks for replying
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Happy to help 👍
@Shalom89
@Shalom89 2 жыл бұрын
helo po sir, papano naman po kaya yung preparation ng financial statement ?
@rosadelmayjapson538
@rosadelmayjapson538 Жыл бұрын
Hi sir gerard, i am a government employee my income tax is withheld by our office thus we have form 2316. I now also have a limited authority to practice my profession. Thus a mixed income earner and opted for 8%. Sir what additional form should i file with the BIR? Is the compensation tax automatically withheld by my employer deductible on my income tax na?
@gerardcarpizo
@gerardcarpizo Жыл бұрын
Hi Rosa. 1701Q/A for your limited practice of profession. Pag mag ffile kana ng 1701A, consolidate mo na ung tax due mo sa govt work mo at yung tax liab mo sa practice. Itago mo yung 2316, kasi yung amount gagamiten mo as credit sa 1701A.
@rosadelmayjapson538
@rosadelmayjapson538 Жыл бұрын
@@gerardcarpizo thank you for response sir! 😊 very helpful po
@macecilialatif6024
@macecilialatif6024 3 жыл бұрын
Hi Sir Gerard , I am a Professional ( an Insurance Agent) and at the same time a business owner which started last October 2020. So I have net loss for the business. My commision as an agent for year 2020 did not exceed 250k , I filed my quarterly Percentage tax , may I ask what tax rate should I use? The form 1701 for Mixed Income is overwhelming! I do not how to start with it.
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Hi Cecelia. You may just declare your net loss and there being no taxable income, fill up the form 1701 for submission.
@ytreyes
@ytreyes Жыл бұрын
Hindi po ba ibabawas from income yung payments to be made sa supplier and other expenses?
@learnskillsandprocesslsp-b3212
@learnskillsandprocesslsp-b3212 11 ай бұрын
bakit po vat exempt sir yung last example nyo, medyo di clear sa akin
@aqoposimilca
@aqoposimilca 2 жыл бұрын
Hello po, sir Gerard. Tanong ko po sana.. considered po ba ako as Mixed Income Earner kung meron po akong dalawang Freelance jobs or hindi po dahil hindi naman po ako employed sa company? Thank you po.
@gerardcarpizo
@gerardcarpizo 2 жыл бұрын
Hi aqoposimilca. You are purely self-employed being not in an employer-employee relationship, as you render only freelance jobs to clients.
@aqoposimilca
@aqoposimilca 2 жыл бұрын
@@gerardcarpizo Nice! Thank you po sir. 😇 God bless po. 🤗
@aaronjoseff
@aaronjoseff 3 жыл бұрын
Hi sir Gerard. What if yung compensation income ko is not over 250K and freelance earnings ko is 300K, annual tax ko ba sir is 8% of 300K?
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Hi Aaron. Yes you are correct. Your earnings from freelancing will be subject to tax either by 8% of gross reciepts or graduated tax table.
@christopherdeguzman5359
@christopherdeguzman5359 3 жыл бұрын
Hi Sir, Question lang po, mixed income earner ako pero yung gross sale ko sa business lumagpas ng 3m, ang tanong ko sir need ko ba magpalit from percentage tax to vat? Thanks
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Hi Christopher. You are correct that upon reaching the 3m threshold you need to update your registration for vat, otherwise you will not be able to claim input tax.
@christopherdeguzman5359
@christopherdeguzman5359 3 жыл бұрын
thank you sir.
@purelypetite6285
@purelypetite6285 2 жыл бұрын
Hi, Sir Gerald. I am a Professional Teacher and was employed from January 2022 - July 2022 in a state university with compensation of less than 250k. Then from August 2022 - Dec 2022 change my status to a job order (no employer-employee relationship). Am I considered as a mix income earner? I am about to file for BIR form 1901, what is the best tax rate I must opt to, graduated or 8% rate? Thank you.
@gerardcarpizo
@gerardcarpizo 2 жыл бұрын
No, unless being employed and being self-employed simultaneously happened during the taxable year. You need to update your regiatration from pure compensation income earmer to self-employed based on the applicable dates you mentioned.
@greatmind3683
@greatmind3683 2 жыл бұрын
hi sir Gerard, i am currently employed for 4 years in a private company, but on Dec 2022 i started freelancing online and about to get my O.R. do I need to state that i am a mixed income earner?
@gerardcarpizo
@gerardcarpizo 2 жыл бұрын
Yes, you will indicate this in your income tax returns espcially when preparing the annual as the withheld taxes from compensation will be declared there.
@greatmind3683
@greatmind3683 2 жыл бұрын
@@gerardcarpizo many thanks sir, and more power!
@alyssahenneseygonzales5830
@alyssahenneseygonzales5830 3 жыл бұрын
mag dedecrease further pa ba ang income tax by 2023?
@judyespenida7690
@judyespenida7690 Жыл бұрын
Hi sir! thanks for the very informative videos...but I am still confused on what tax should I use. I am a public school teacher for 15 years and I hve a new business last May 2023. Please advise me what to do this July 25th deadline. thaks
@gerardcarpizo
@gerardcarpizo Жыл бұрын
Hi Judy. You can watch this video on percentage tax. For payment of the tax, you can visit your local banks if they are accepting BIR payments, make sure to print 3 copies for form 2551Q and bring your TIN Id. kzbin.info/www/bejne/lYSrm6V_qMmHe6s
@Laila-sv1mq
@Laila-sv1mq Жыл бұрын
Ma’am hi, we have the same situation, ano form ma’am ang ginamit mo for filing ITR? 1701 mixed earner ba ma’am?
@greysandra1277
@greysandra1277 3 жыл бұрын
Hello sir, i am an overseas seafarer (no tax) but i am still doing freelance. Before i boarded i opted for 8% for my freelance work. Am i a mixed income earner now or not because ofws are not taxed here in PH? And should i continue using my opted 8% on my freelance with 250k deduction? Thank you!!
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
You're exempted from your income from your seafarer work but not the other business you are engaged in the PH. You may opt for 8% tax but not as a mixed income earner anymore.
@greysandra1277
@greysandra1277 3 жыл бұрын
@@gerardcarpizo thank you sir, so i can still deduct 250k from my income. You enlightened me!!
@ab.venture
@ab.venture 2 жыл бұрын
Need pa ba magparegister sa BIR kung mixed earner? Need pa ba magpaprint ng invoice & collection receipt?
@gerardcarpizo
@gerardcarpizo 2 жыл бұрын
Yes, as a mixed income earner there is a component of a business income. For invoice, if there is no need to issue you may not prioritize printing.
@ab.venture
@ab.venture 2 жыл бұрын
@@gerardcarpizo CR na lang ang proof of sales?goods po
@Min_Maeda
@Min_Maeda 2 жыл бұрын
hello po sir. paano po kung may overpayment sa 1701 annual ITR, pwede po ba i carry over po siya sa 1701Q?
@RryHershOfficial
@RryHershOfficial 3 жыл бұрын
For example 2, meron pa ba etong 3% na percentage tax on gross sales sir?
@Guez8090
@Guez8090 10 ай бұрын
San po nakuha po nakuha yung 100k na non operating income? thank you
@GeeTeeGarage
@GeeTeeGarage 3 жыл бұрын
Good day, Sir. I'm not sure if Ill apply for the graduated or 8% tax rate. I'm currently working in a gov't office and I also started a freelance work. The sallary is not that big for the freelance job thay I have so I'm not sure if it's good to apply for the 8% rate. Please advise. New sub here.
@ashi_yanna
@ashi_yanna 2 жыл бұрын
Hi sir Gerard, tanong ko lang po yung sa pag nag-exceed yung gross sales sa VAT threshold, may instances po ba na exempted po yun sa tax or gaya nga po nung sa example na isinasama pa rin po siya sa pagcocompute ng tax? Sana po masagot niyo kasi may subject po ako ngayon na taxation and naguguluhan po ako sa pagtatax ng mix income earner po. Thank you po
@gerardcarpizo
@gerardcarpizo 2 жыл бұрын
Hi Monica. If the business exceedes the VAT threshold, there is a need to immediatly update registration to be able to claim input tax, as the business could subject to transitional input tax. Also, there would be no output tax yet from the previous months sales.
@Min_Maeda
@Min_Maeda 2 жыл бұрын
Good day, sir paano po sir kung si Mixed income earner bininta niya po yunh business niya po, and hindi na po siya mixed income earner, purely compensation na lang po siya sir? ano po mangyayari sa sales niya po for first month of the quarter? 1701Q parin po ba ang gagamitin niya po ng form po?? kelangan parin po ba nya mag file po ng 2551Q po since Non-Vat po yung bininta nyang business po?
@ayessamembrere837
@ayessamembrere837 9 ай бұрын
sir question, naka 8% po ako last year, paano ko po maibalik sa dati na graduated?
@gingerbunny.
@gingerbunny. 9 ай бұрын
how po pag quarterly?
@edsvlog4014
@edsvlog4014 3 жыл бұрын
Sir, what if di ako lumampas sa 250k like for example 160,000 ×.8 lng ba sya? and paano po icocompute ung mga holiday pay,overtime pay hazard pay,night differential,13 month pay etc? paano po sya?
@andreainfante3526
@andreainfante3526 3 жыл бұрын
Hi Sir! (MIXED EARNER) May I ask lang po if ever wala pong nakalagay sa COR na "8% income tax", pwede pa rin po bang piliin yung 8% flat rate instead of graduated rate? thank you po! God bless!
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Hi adrea, the 8% income tax rate is optional and is in lieu of the 3% percentage tax. As mixed income earner, only the business income can be subject to the 8% optional tax rate.
@RryHershOfficial
@RryHershOfficial 3 жыл бұрын
Also, for example 2, what if Hindi po vat exempt Yung business income, how to compute mixed income with vat on the business income?
@marypalapan128
@marypalapan128 3 жыл бұрын
hello sir gerard. yung illustrative problem number one po, paano po nakuha yung 90k?
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Hi Mary, its the statutory limit for non-taxability of 13th month benefit set by the BIR.
@shiellamariano7486
@shiellamariano7486 3 жыл бұрын
Hi sir Mixed earner po ako. From graduated nag 8% po ako. Pero inallow naman nong rdo ko yong update. Confuse po ako if need ko pa rin ba mag file quarterly nang percentage tax kasi inapprove naman ni RDO update ko na mag 8%
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Hi Shiella, if you have already signified your intent to be taxed at 8% as mixed income earner, no need to file the percentage tax.
@shiellamariano7486
@shiellamariano7486 3 жыл бұрын
@@gerardcarpizo thank you so much.
@carongee1006
@carongee1006 3 жыл бұрын
Hello sir Gerald ask ko lng po kung may paupahan ako at employed as contractual for 6mons. Below min. Wage 1. Dapat po b ipa up date ko ung COR ko sa mixed in income 2. Graduated po ung bus. pano po ang pag file ng 1701Q at 2551Q? Pagsamahin ko ba ung Gross income? Thank u in advance sa sagot sir.
@rommelasis4577
@rommelasis4577 2 жыл бұрын
Sir how to amend my 1701?
@angelamaried.napenas8012
@angelamaried.napenas8012 11 ай бұрын
Hi Sir, I am an employee and a Grab operator. Dapat po ba yung income from employment (2316) and income from Grab is iconsolidate ko sa 1701? Or kahit ung income nalang po ng Grab ung ideclare ko sa 1701 ko since filed naman na ung 2316 ng employer ko and ung COR ng business ko is Sole proprietor po? Sana po masagot. Thank you po in advance 🙏🏻
@gerardcarpizo
@gerardcarpizo 11 ай бұрын
Dapat consolidated, yung kinaltas na tax ayon sa 2316 ay gagamiten na credit (bawas) sa annual income tax due sa 1701A.
@jericdetorres6757
@jericdetorres6757 3 жыл бұрын
Hi sir Typo error in the Total taxable business income must be 2,500,000 not 2,300,000 but still arrived at correct tax due🙂
@MM.VZ.
@MM.VZ. 10 ай бұрын
Sir, bakit example mo po 1 billion. Hindi nmn po umaabot ng ganyan kalaki ang anual salary/income pag nagttrabaho ka. Sana po yung makatotohanang computation para di nakakalito. Yung 1901 po, nagtataka ako bakit 8% lang ang option, e diba po ang 8% deduct po yun pag sumampa ng 250k ang anual income. Pano po kung di naman umabot po dun? Thank you po sa sagot.
@gerardcarpizo
@gerardcarpizo 10 ай бұрын
Watch mo nalang mabuti kasi hindi 1 Billion ang amount. Also, kung nalilito po kayo, seek advice/assistance sa BIR.
@jjseyer
@jjseyer Жыл бұрын
Hi Sir, ask ko lang po kung mixed earner po ba ako? Freelancer po and doing small business. Ang nakalagay po sa taxpayer type ko is professional and single proprietor. Pwede pa din po ba ako magfile ng 8%?
@Laila-sv1mq
@Laila-sv1mq Жыл бұрын
Hi Sir, is the public teacher with compensation less than 250k and same time single proprietor with business income less than 100k/year as well, Should I need to file 1701 as mixed earner or can I file just the Business income? Pwede ba Sir hindi ko na isama ang compensation income ko dahil ang school na namin ang nagpa- file ng 2316.. Thank you in advance Sir🙏
@gerardcarpizo
@gerardcarpizo Жыл бұрын
Hello Laila. Isama mo padin yung compensation mo sa as a teacher, as an individual mixed earner, dapat consolidated ang filing mo sa 1701. Any amount na withheld sa 2316 mo naman ay macclaim mo na pambawas sa annual ITR, check mo ung video ko how to file AITR kasi andun yung part ng 2316 sa 1701A.
@Laila-sv1mq
@Laila-sv1mq Жыл бұрын
@@gerardcarpizo Thank you so much Sir..Really appreciated your response.. I will watch Sir all your video.. Sir pwede din po ba pang bawas sa 1701 yung mga binayaran ko percentage tax using form 2551Q for 3 quarters? Nagbabayad po kasi ako ng 3% percentage tax every quarter..
@benjonedic7925
@benjonedic7925 9 ай бұрын
Ask ko lang Po applicable Po ba ang 8% income tax rate sa mixed earner..which employee ka na may withholding tax compensation sa company and then may business ka or practice of profession
@gerardcarpizo
@gerardcarpizo 9 ай бұрын
Yes, applicable ang 8% for the business income component ng individual, pero yung deduction na Php 250K ay hindi available sa mixed income earners kasi naka embed na sa tax table para sa isang employee.
@raquelynconstantino5242
@raquelynconstantino5242 3 жыл бұрын
thankyou so much po 💗
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Happy to help 👍
@legendcreeps3984
@legendcreeps3984 3 жыл бұрын
Pano po pag employed ako dati until March 2021, then unemployed till May, then ngayong June self employed. May effect ba dapat sa filing ko yung employment ko nung first quarter?
@marinellefule2642
@marinellefule2642 3 жыл бұрын
Hi sir my husband is a private practicioner and recently become employed as a govt employee. In filing 1701Q we are now in the category of mixed income earner 8%it rate so we are no longer entitled for 250k allowable deduction so the computation of the tax due is gross receipts x 8%? Just a confirmation sir kc before Wala kaming binabayarang tax because of the 250k allowable ded because the income is purely from profession.
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Hi Marinelle, you are correct in saying that for business income 250k shall not be allowed as deduction. For mixed income earners the benefit of the 250k is incorporated in the computation of tax from compensation income.
@nikkylim8741
@nikkylim8741 3 жыл бұрын
Hello Sir Gerard! Mixed earner po ako as also indicated in my COR. I understand option si 8% for business, pero pwede lang po ba syang gawin if explicitly stated sa COR na you opted for 8% income tax? Confused po kasi ako kung kaylangan ko pumunta sa BIR for update. Gross receipts ko po still super below 3M. Thank you in advance!
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Hi Nikky, the 8% option could be availed in the first month/quarter of the taxable year. Once you've paid taxes other than 8% option for the year you cannot change it.
@princessjoanna5514
@princessjoanna5514 3 жыл бұрын
Sir ask ko lang po what book ref are you using po?
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Hi Princess. Currently I primarily use Atty. Sacdalan Casasola's book as reference.
@mylendechavez5898
@mylendechavez5898 3 жыл бұрын
Hi question po, would like to inquire . On the part of employer na nag withheld ng tax on compensation, irefund nya po ba yung employee since considered not applicable for Substituted filing ang mga mix income earner? Kindly enlighten me po, thanks po.
@jorizz.sandiego1306
@jorizz.sandiego1306 10 ай бұрын
Sana sir tinagalog mo kasi phil tax naman ang topic. More pinoy ang nanonood
@gerardcarpizo
@gerardcarpizo 10 ай бұрын
Salamat po at iyan po gagawin ko in the future especially kung marami nag rerequest. :)
@KaikaiDaLittleDog
@KaikaiDaLittleDog 7 ай бұрын
Uu nga mas madali maintindhan
@src8654
@src8654 3 жыл бұрын
Nice video well explained, can you please make one video on mixed income with 40% OSD option.
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Sure, will have a video for OSD soon. Thanks for suggesting a topic.
@angeldemonisefajardo9742
@angeldemonisefajardo9742 3 жыл бұрын
@@gerardcarpizo Hi Sir, did you already post the video with the example of 40% OSD option?
@thehopefulsoul_
@thehopefulsoul_ 2 жыл бұрын
Hi Sir. This is very informative. But what if ang income is from business and profession (JO hired by a LGU so not considered as compensation), what are the applicable tax rates po? I hope matulungan nyo po ako. Thank you in advance.
@gerardcarpizo
@gerardcarpizo 2 жыл бұрын
Hi Christine. You can watch my video on freelancers as their income tax obligation is for self-employed (professionals) kzbin.info/www/bejne/mJ6UoX2og8uNi9E
@angelicalouise2669
@angelicalouise2669 2 жыл бұрын
Hello, Sir Gerard. I would like to ask po if on the 1st Quarter po, employed ako. Then from 2nd to 4th Quarter, self-employed na po. Isasama po ba 'yung income nung 1stQ sa Annual Income Tax? Paano po ang computation nun?
@gerardcarpizo
@gerardcarpizo 2 жыл бұрын
Hi Angelica. Yes, as during the taxable year you were considered as mixed income earner. You can use the form 2316 from your previous employer and watch my video on how to file 1701 to learn more.
@sixthmanballer
@sixthmanballer 3 жыл бұрын
Hi Sir tanong lang my compensation income do not exceed 250K wala po akong taxable compensation income...but I have a business for example with gross sales of 80K and I opted to use 8% rate... Multiply ko lang ba si 8% sa 80K that will be my tax due? Sorry hnd ako makarelate sa example medyo malaki kasi mga kitaan. Salamat in advance..
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Yes, you are correct. For mixed income earners the gross business sales will be multiplied to 8% income tax rate.
@lyngilolivar6481
@lyngilolivar6481 3 жыл бұрын
Hello po, I am a freelancer. ESL tutor po ako and I provide my services for two ESL companies. Mixed income earner po ba ako, o hindi? Annex B-2 po pa rin ba ang gagamitin ko for Sworn Declaration of Gross Receipts? Thank you po.
@teacherrona6344
@teacherrona6344 2 жыл бұрын
Hello po Sir Gerald. My question po is about the COR. More than a year ago, I started working as a partime freelance online teacher while I was employed. Unfortunately, I was not able to get a COR because I thought that it is not necessary anymore if I opted to have a 10 percent tax per month. Recently, I just knew that necessary pa rin pala kumuha ng COR.kahit na naka 10 percent tax po ako. May I know po Sir if there are penalties I have to pay because of this? Thank you.
@gerardcarpizo
@gerardcarpizo 2 жыл бұрын
Hi Rona. Yes, there are penalties. Upon payment of the tax due (P500 annual reg fee) there would be 25% surchrage, 20% interest and compromise penalty of at least Php 1,000.
@teacherrona6344
@teacherrona6344 2 жыл бұрын
@@gerardcarpizo Thanks po. 25% of my annual income po?
@gerardcarpizo
@gerardcarpizo 2 жыл бұрын
The basis of the penalty is the unpaid due/unfiled return, such as unpaid/unfiled annual registration.
@teacherrona6344
@teacherrona6344 2 жыл бұрын
@@gerardcarpizo I see po. For my ITR po last year, hindi po ako nakapag file kasi akala ko po no need na, what should I do po? May penalties din po ba?
@gerardcarpizo
@gerardcarpizo 2 жыл бұрын
Yes, there would also be penalty to that too, same computation with what I said in previous reply.
@zelcruz8829
@zelcruz8829 3 жыл бұрын
Hello sir! Thank you for your insightful contents. Currently employed po ako and I want to start my business now and have it registered sa bir. So I will be a mixed income earner. Pipiliin ko po sana is 8% tax rate so diba po yung 250k exemption naaply na sa income fr compensation ko po and yung gross sales ko na po ang imumultiply sa 8% diba po? Kaso Im planning to resign din in less than a year and mag full time na po sa business. So within less than a year of registering as mixed income, pwede po ba ako mag shift again to sole proprietor nalang para macredit na yung 250k sa income ko from business? Maraming salamat po 😊
@jenicaformentos9569
@jenicaformentos9569 3 жыл бұрын
Saan po nakuha ung 90,000? Sa 13th month? Eh wala naman pong given na 90,000.
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Hi Jenica. The P90k is the statutory limit for 13th month pay and other benefits provided by TRAIN Law.
@karlapabustan7318
@karlapabustan7318 3 жыл бұрын
Good Morning po sir, can I ask paano po makukuha ang Tax Payable for mixed income earner not exceeding the threshold? Should we deduct the CWT to the total Tax due to get it po? or kung ano na po ang Tax due yun na din po ang Tax payable? Thank You and God Bless po stay safe
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Hi Karla. In computing, tax due still due is equal to the tax due computed minus any tax payment and credits.
@karlapabustan7318
@karlapabustan7318 3 жыл бұрын
@@gerardcarpizo Thank You po Sir, Big Help po
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Happy to help 👍
@k8k8k8k
@k8k8k8k 3 жыл бұрын
Hi Sir Gerard, i am a business sudent po. we have this question for our quiz and my answer was wrong by only a few thousand. i don't understand po pero what was wrong with my computation. i think I was confused by I don't know which part. is it the "not subjected to final tax?" was I not supposed to include it? The question: Mr J is a mixed income earner. in year 2020 he earned gross comp inc of 1,287,180, excluding 13th month pay & other benefits of 158,000. In his trading business, his gross taxable bus. inc. is 1,885,980 and incurred total deducible expenses of 684,180. in addition, hea earned non-op inc of 145000 (not subjected to final tax). If the taxpayer availed of the 8% option how much is his income tax? My answer: 459,032 = I got this answer thru following your instruction The correct answer: 456,632
@kristinevillaruel5039
@kristinevillaruel5039 3 жыл бұрын
Hi sir, ask ko lang, i am currently an employee and a freelance tutor online (have to double time for me to meet ends). I have a question: 1) newly employed ako, should i be requesting my 2306 na sa employer? 2) should i be the one filing sa freelancing ko as ESL tutor? 3) if yes for #3, then i have to work on my SD and CoR, and file using the 1701 file. 4) as mention, i can apply po for a zero tax, is this applicable to mixed incomer earner? Or pwede lang sya ifile as a freelancer. Sorry if i have many questions. Super overwhelming lang and di ko alam pano amg process here. Zero knowledge po ako
@luzvimindacanlas2865
@luzvimindacanlas2865 3 жыл бұрын
Hello, Sir. Ask lang po what if mixed income earner, but the compensation income did not exceed the 250,000 exemption, should the unexhausted balance from the 250,000 be deducted from the business income since the 250,000 exemption was not fully used?
@gerardcarpizo
@gerardcarpizo 3 жыл бұрын
Hi Luzviminda. If the mixed income earner uses graduated income tax table (not the 8% option), taxpayer can benefit from the 250k on income from compensation and business.
@jn2223
@jn2223 3 жыл бұрын
Hi po. Thanks po sa video, new subscriber po. 1. Ask lang po sana pag po nag opt to 8% company pa din po yung magdededuct for the compensation income then for business po bale yun po yung personal na ako po mismo mag fafile with BIR. Tama po ba? Since as is naman po yung sa compensation income. 2. Ask nlng din po, Pano po if magregister as BMBE tapos mixed income earner? Employer pa din po ba magfafile ng compensation income? Salamat po.
@thebarbschannel3416
@thebarbschannel3416 11 ай бұрын
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