How to calculate income tax: an example. How to calculate income tax correctly?

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

In the article you will learn how to calculate income tax. An example will be given after we have a general idea of what we will be dealing with. After all, the income tax itself is extremely important. It has a lot of different nuances and features.

So, some citizens have the right to evade this contribution or simply to reduce it. In addition, the calculations themselves are sometimes very confusing. And they will have to be de alt with, as mistakes can bring a lot of problems. And nobody needs it. Let's try to understand all the nuances of this issue. How to calculate income tax? An example, and more than one, will help to understand this.

Income tax is

But what are we dealing with? What is Income Tax? From whom is it charged? As you might guess, this contribution to the state treasury is nothing more than a payment from the taxpayer for generating income. It is charged from everyone who has it on the territory of the Russian Federation. That is, from both residents and non-residents. It does not matter who it is - just an individual, legal entity, organization or individual entrepreneur. The main thing is that the taxpayer has an income.

Income tax is the most famous and widespread payment in Russia. No one can hide from him. Unless to citizens who work unofficially. But they act at their own risk. How to calculate income tax correctly? How much should I pay in one case or another?

Individuals

Let's start with the conditions that apply to individuals. After all, they make up the majority of taxpayers. As we have already found out, their income is taxed. Just not always. And in different volumes.

The fact is that an individual must pay this contribution in almost any case. Yes, and in the amount of 13% of the proceeds. Any sale and purchase transactions, as well as wages, are subject to it. Winnings and treasures too. There are exceptions, but not too many.

For example, you do not have to pay for income received in the form of gifts from close relatives. Or if the transaction involved property that you have owned for more than three years. In principle, these are all the restrictions that are currently in effect. From the lease of real estate, from salaries, from the sale of something, a certain amount of money will have to be taken away and transferred to the state. By the way, treasures and winnings are taxed at 35%.

Organizations

What's next? How to calculate income taxorganizations? An example will be given a little later. Instead, for now, it's worth knowing what rate to calculate at.

The problem is that there is no uniqueness here. Instead, the RF tax system offers many alternative approaches and solutions. For example, the standard rate for organizations is 20%. In some cases, you may encounter 30%, 15% and 9%.

In addition, companies that have chosen certain regimes as taxation - say, the simplified tax system - are exempt from income tax. No, they will pay income tax, but only under a different system. More on her later.

Remember: as soon as it comes to organizations, you will have to take into account that in order to correctly answer how to calculate income tax (an example of "turnover" and without it will be indicated below), you must take into account both income and expenses for the tax reporting period. In practice, most often all calculations are made once a quarter.

For IP

Special attention is paid to individual entrepreneurs. Why? The fact is that this type of activity is most often chosen by citizens who want to work for themselves. And, as practice shows, they choose a special system of taxation. Especially when it comes to some kind of "freelance" or "copywriting". Most of the activities of entrepreneurs can be transferred to a simplified taxation system. Then you do not need to think hard about how to correctly calculate the tax onprofit. The example below will show how easy and simple everything is.

Why is this happening? With the appearance of the simplified tax system, you can rely on taxes in the form of 6% of the profits received. That is, no costs are taken into account here. In fact, such a scheme makes life much easier for individual entrepreneurs. No unnecessary paperwork and reporting, no torment with calculations. It is enough to know mathematics at the level of middle or high school. And that's it.

For salary

How to calculate income tax (an example of accounts worries and interests many)? One feature related to individuals was missed. For them, income tax can be reduced by a certain amount if the employees have minor children. This process is called the child allowance.

So, if the annual income does not exceed 280,000 rubles, and also if citizens have minor children (or full-time students/cadets/interns/residents up to 24 years old inclusive), one can hope for a reduction in the tax base. This leads to lower payments to the tax authorities.

1400 rubles deduction for one and two children. For 3 or more, as well as for disabled children - 3,000. In some cases, 6 and 12 thousand, respectively, are relied upon, but such phenomena are almost never observed in Russia. Also, individuals are en titled to a double tax deduction if the spouse refused this benefit.

General principle

How to calculate the income tax of a separate division and not only? Herea single formula that is understandable even to a schoolboy will help. That is, it is enough to substitute all the necessary values \u200b\u200binto it in order to get the amount due for payment. It applies to all income taxes. It does not matter who you are dealing with - with an individual, organization or individual entrepreneur.

What will help calculate the amounts due? A formula that consists of only 2 elements. The first is the tax rate. It, as we have already found out earlier, is established in this or that case specifically. The second is the so-called base. If you multiply these two components together, then you will get the amount of income tax.

About the base

Many have questions even here. How to calculate income tax? An example cannot be given and fully understood until we understand what the tax base is. If the stake is a well-known component, then the situation with the second element is more difficult.

The tax base is nothing more than the amount subject to income tax. From it will have to build on the calculations. It may decrease in some cases. Incorrect definition leads to incorrect calculations and problems with the tax authorities.

The tax base for individuals is simply their income. When it comes to companies and entrepreneurship, we can say that it consists of their profits and expenses. That is, the base in this case will be called the amount received after deducting losses and costs. Also, speaking of individuals, it is worth noting - taxdeductions for children in the database will be taken into account without fail. Now that the intricacies of the process are known, you can think about how to calculate income tax for a month, quarter or year in one case or another.

For individuals

Let's start with individuals. They have the least problems. For example, you work in a company, and your salary is 19,000. At the same time, your profit will be 228,000 rubles a year. There are three children - 5, 11 and 25 years old, and the second parent does not work.

In a similar situation, the following picture is obtained for a month:

(19,000 - 1400 x 2) x 0, 13=2106.

Without deductions for children, if there were none, you would just have to pay:

19,000 x 13%=2,470.

During the year, in both cases, the amount of taxes accrues to 25,275 and 29,640 rubles, respectively. Nothing difficult, right? There are no problems at the moment.

Organizations

But with organizations, everything is much more complicated. After all, here you need to know exactly what data will be taken into account in expenses, income, losses, profits, and so on. Many are frightened and panicked as soon as they think about it. So how do you calculate income tax? The example will be the simplest.

So, there is a company that received 4,200,000 rubles of profit for the quarter. 1 million was spent on employee salaries, VAT, depreciation and raw materials, and in the last reporting period, the tax loss amounted to 200,000. We are dealing with an ordinary organization in Russia, not with a foreign one.

Then it turns out that our tax rate will be 20%. Whereinthe base is defined as:

(4,200,000 - 1,000,000 - 200,000)=3,000,000 rubles.

From this amount we will make all calculations. Now all that's left is to multiply the base by the bet. It turns out:

3,000,000 x 0, 2=600,000 rubles.

In this amount, the organization's income tax will be calculated.

For the statement

Calculating the required payments with your own hands is not so difficult. But to indicate them on the balance sheet is no longer such an easy task. After all, there are many different codes and components. Each element reflects certain income, receipts, losses and expenses. We'll have to take them into account and prescribe.

Here you should consider only the most basic codes. This is:

• 90.01 - revenue;
• 90.03 - VAT;
• 91.01 - non-sales income;
• 90.02 - production cost.

In principle, most often citizens only try to carefully read the correspondence of accounts and compare them with expenses-incomes. Everything is extremely simple when you know what information to access. References in the relevant programs for reporting are available. All comments are indicated opposite the accounts.

Entrepreneurship

The last point to consider is entrepreneurial activity. How to calculate personal income tax? The example in this case will be even simpler than in the case of individuals. It has already been said that entrepreneurs most often work on the simplified tax system. So, they will take a tax rate of 6%. Decide on the base tooextremely easy - everything you received in this case is taxed.

So you just need to take the income for the year and multiply it by 6%. For example, the annual profit is 269,000 rubles. Then you will have to pay the tax authorities accordingly:

269,000 x 0, 06=16,140 rubles.

Plus transfer a certain amount of contributions to the Pension Fund and he alth insurance. But that's a completely different story.

As you can see, there is nothing difficult in this matter. It is because of these features of the taxation system in Russia that business under the simplified tax system is flourishing. No unnecessary reporting, huge balance sheets, numerous accounts, and so on.

In general, income tax can be calculated using special online calculators. It's not the best option, but it has its place. There are also services that make up a statement for the report in parallel to you. You can use them, but you still don't need to abuse them.