The 15th of May - the extended deadline for filing individual tax - is looming and thus we ask you the dreaded question: have you filed your taxes?
If you have already filed and spent your returns over the weekend – good on you (though not so good if you blew it all, but that’s another story for another day) – if you haven’t, you may be nail-biting, hair pulling and having sleepless nights just thinking about it.
Best to get it over with.
But do you really know how much tax you should be paying? Perhaps you are a first time filer or even a ‘veteran’ who never really paid attention to the numbers you were keying in.
There’s no time like the present to start. The money saving experts at Savemoney.my have gone through a lot of trouble to prepare a great guide to filing your taxes including coming up with a handy calculator to make sure you are only paying what you need.
Get to know your income taxes, the meaning of terms, avenues for cutting down and other interesting nuggets of tax info. The page includes detailed calculations on taxable income and what the final numbers should be. Refer to their chart of tax percentages to calculate your own.
Knowing what deductions you can claim for from your taxable income will reduce how much you pay; saving you a good amount of money. And who doesn’t want to save money?
Image courtesy of Grant Cochrane FreeDigitalPhotos.net