Question: Suppose you are a self-employed individual under Optional Standard Deduction scheme with 2022 gross sales of P850,000 and sales returns of P20,000 Additional information -You

Suppose you are a self-employed individual under Optional Standard Deduction scheme with 2022 gross sales of P850,000 and sales returns of P20,000 Additional information -You also received from Teng, Tang and Ong Tax Consulting Services as general professional partner amounting to P120,000

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Heres how to compute your taxable income and determine the applicable taxes under the Optional Standard Deduction OSD scheme Step 1 Understand the Opt... View full answer

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