OSD vs. Itemized Deduction on Income Tax Return
Now that the Optional Standard Deduction (OSD) is increased to forty (40%) percent for both individual and corporate taxpayers, decision has to be made by you as the taxpayer whether you will stick to the old itemized deduction ... read more
Computation of 2008 Income Tax Using OSD
Let us now compute the income tax of an i-café owner for the gross sales he had for 2008 using the Optional Standard Deduction (OSD) as provided for under Republic Act No. 9504 and its implementing rules and ... read more
Using OSD on Income Tax Return
In my blog article on The Income Tax of an I-Café Owner, OSD or Optional Standard Deduction was mentioned as one option that a taxpayer can use on his annual income tax return. The new Revenue Regulations No. ... read more
The Income Tax Of An I-Café Owner
Now is the season of computing, filing and paying the annual income tax derived from compensation and/or business of every citizen including an i-café owner. Many questions are being asked in various forums regarding the subject. In this ... read more
