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Author Topic: Income Tax Despite Losses year-to-date?  (Read 1880 times)

DenisG

  • Former member
Income Tax Despite Losses year-to-date?
« on: June 07, 2009, 04:27:01 PM »
Hi guys,

again a nooby question:

I just got hit from the federal tax agency, deducting income tax from my cash account. I wonder why, because my airline started that year and is, calculating year-to-date still in the loss. So, will I get a refund at the end of the year, if that persists and will not add up to a profit by year end?

Thanks.

Denis

Offline Sigma

  • Members
  • Posts: 1920
Re: Income Tax Despite Losses year-to-date?
« Reply #1 on: June 07, 2009, 04:28:42 PM »
Income tax is paid on a monthly basis, it doesn't matter if you've sustained a loss year-to-date.  But, yes, if you continue that loss then you will get that money back at the end of the year.

Offline Sami

  • Administrator
  • Members
  • Posts: 14539
    • AirwaySim - Are you the next Richard Branson?
Re: Income Tax Despite Losses year-to-date?
« Reply #2 on: June 07, 2009, 04:28:49 PM »
The taxes are checked once a year, so you'll get a refund on January 15th.

DenisG

  • Former member
Re: Income Tax Despite Losses year-to-date?
« Reply #3 on: June 07, 2009, 04:41:31 PM »
Thanks for the quick reply. My compliments, you got the tax agency working pretty much like in real life...  ;D

Best regards,

Denis

dG Airlines

 

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