Is anyone here who could explain me what doies it mean :Income tax withheld (30%) ? It takes money every month . I appreciate any answers ! Thank you !
Quote from: GoldBird on July 12, 2011, 03:52:43 PM
Is anyone here who could explain me what doies it mean :Income tax withheld (30%) ? It takes money every month . I appreciate any answers ! Thank you !
It is income tax...Revenue - expenses = profit (aka income). Depending on what country you're in, corporate taxes on profit are 0% to 40%. You pay monthly based on the past month's business activities. The good news is you get a refund in January if there is an overpayment on an annual basis (which there almost always is).
Thank you !