In the eighth class of the Finance for SL course we are going to learn what we must pay as personal income tax within a limited company.
Although Personal Income Tax is not the main tax that Limited Companies must pay, we must also take it into account, since it will mean a significant outlay of money in our company.
If we have employees, or if we have rented premises, we must pay personal income tax. Rather, we will have to make retentions. That is, set aside money each month, which we will have to pay later on a quarterly basis.
That is why it is very important that we be very meticulous with the organization of this money. Since we can get scared when the manager comes with the amount to be paid. Come on, let’s watch the video so that everything is very clear to you. Go for it!
You see, taking into account this expense that personal income tax entails for our business, we should not have any problem. Even, as we have seen in the class, we will be able to calculate the withholdings that we must apply to each worker, to do it so that he pays only what corresponds to him and there are no scares in the income statement.
Remember that of the models that we must present, both withholdings and rents, at the end of the year, we will have to make a recapitulative statement and that this statement does not imply any disbursement.
As homework, I suggest you take a look at the Treasury calculator that I have left you below the video, so that you become familiar with the tax. You can calculate the withholdings of your employees or your own and check if you are withholding properly.
As always, if you have any doubt or question, you can send it through the support form of the subscriber intranet. See you in the next lesson! 🙂
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