CHATBOX (kuno kasi walang chatbox sa tsikot)

[kai s.]

100k na ba non taxable sa bonus? Paano computation after 100k?

As far as I know, 90k only (priority on 13th month pay). Anything beyond will form part of taxable income and will follow the tax rate bracket where you are in.

P90k of total bonuses exempt from tax across the board. *pobre24 is right, anything beyond the P90k cap will be taxed according to your bracket.

[_Cathy_]

P90k of total bonuses exempt from tax across the board. *pobre24 is right, anything beyond the P90k cap will be taxed according to your bracket.

I won a cash award last month which is considered a bonus ata, Now my mid year is so small Parang 32% pa rin e, just like pre train

[KingoftheNorth]

^ Maybe you can ask your payroll officer to give you a detailed breakdown of how the taxes were computed (and deducted) if you have any doubts.

I do that especially if the amount of deduction/withholding appears rather out of the ordinary.

[_Cathy_]

^ Maybe you can ask your payroll officer to give you a detailed breakdown of how the taxes were computed (and deducted) if you have any doubts.

I do that especially if the amount of deduction/withholding appears rather out of the ordinary.

I don't have doubts. I'm just disappointed because I thought tax for bonuses would be less than 20%

[dreamur]

I don't have doubts. I'm just disappointed because I thought tax for bonuses would be less than 20%

That usually happens if you received a lump sum at the middle of the year as the system "assumes" it to be your new base pay. Once you reach the year end, it smoothens out and you can expect a tax refund.

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[ratboy]

Buti you have stock trading money before working.

I took my first job because I wanted to buy a bigger set of wheels and tires...

x years later, wala pa rin akong bigger set of wheels and tires... hehe

Ako kasi kumuha ako ng konti sa savings ko noon hehe may mga part time ako dati like date encoder tsaka data miner e kaya nakaipon. Nilaro ko sa stock market.

90% of stock traders lose money. Were you part of the 10% that consistently made gains?

Good choice on finding a stable job. I don't think stock trading could've equaled the salary of my first job unless I had millions to begin with. And not all trades are short-term wins, some require you to play long. But expenses happen on a day to day basis so a stable source of income is still necessary

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Oo nga e nagstart kasi ako mga november last year, bull market pa tayo tsaka dami speculative stock nakisakay lang ako ng nakisakay sa mga ganung stock tapos yung sa ibang stock ang pinili ko strategy is bounce trading kaya kumikita haha tuwa nga ako. Until lately bumagsak lahat at nagkaroon ako losing streak more than 1 month na hindi kumita sa stock at puro luge halos maubos na yung kinita ko dati, kinulang din ako sa disiplina at control emotion hahahaha kaya reality check ako more on position trading and investing na lang ako kesa day trading. Hirap pala talaga kasi hindi kontrolado eh mas ok pa rin pakiramdam na may stable na job na may sure kang kikitain at mapapakain sa pamilya mo, pang sideline na lang itong stock hahahahaha

[pobre24]

I don't have doubts. I'm just disappointed because I thought tax for bonuses would be less than 20%

Actually, there is a bracket that taxes 20% only (250k-400k annual income) or even tax-free (250k-below). I'm pretty sure you're beyond it.. hehe

Income tax really went down (up to 8M annual income) because of TRAIN.

[dr. d]

from what i understand, income tax is based on the sum total of the individual's income, from all sources.
bonuses are income.

yes, the witholding tax is pre-deducted. but if the sum total of the various witholding taxes is still less than the computed total income-based income tax, the taxpayer still has to fork out additional money.

[pobre24]

from what i understand, income tax is based on the sum total of the individual's income, from all sources.
bonuses are income.

yes, the witholding tax is pre-deducted. but if the sum total of the various witholding taxes is still less than the computed total income-based income tax, the taxpayer still has to fork out additional money.

yes, this is correct. It can happen both ways. Excess or deficiency when it is annualized. Deficiency happens when you move to the next income bracket or there was an unexpected income that came in for the year. Excess happens when taxes are lowered like the new TRAIN income tax table (eg. 250k annual earners still paid taxes last Jan. They should be refunded by end of the year).

[Archerfish]

Any ideas about clear tints? What are the advantages and disadvantages?