I once heard the joke, ‘In the end, the National Tax Service always wins.’ It captures the emptiness of working hard to grow sales only to see the money go out in taxes. Tax planning is essential for business owners. Even when you hire a tax agent, you are ultimately responsible for filing and paying, so you need basic tax knowledge. Most owners let an agent file and pay whatever they are told. I did the same, but seeing the bills made me wonder how to reduce them and think I should learn some

“When You Understand Taxes, You See Money” is a new book by Choi Yong-gyu, known as ‘Tax Cody,’ who teaches and writes about taxes for business owners, employees, and real estate. Employees generally just file an annual tax settlement, but sole proprietors face a lot they do not know, from business registration to tax settlements and when to handle each. Taxes can feel even more complicated if you have a side job or work two jobs. This book gives basic tax information about how to claim

Why does it feel like I pay so much income tax when there is not much left over? I have been helping my parents, who run a manufacturing business, with general tax and accounting work for nearly 10 years, but even after paying taxes, it still feels like nothing is left. Many businesses around us are struggling this year, and we are trying to get through this difficult time. We have worked with the same tax accountant for a long time and received a lot of help, but every year at closing time we

“I don’t have much left over, but it seems like I pay a huge amount of income tax in comparison. Why is that?” Page 4. Exactly. I agree 100%!! Self-employed people work hard to keep their businesses going, selling one or two items at a time, but whenever tax season comes around, a big lump sum is taken away in taxes as if that were only natural. I start wondering: Do they really take this much? Does the country just not want its citizens to make money? Tax Coach says that taxes aren’t paid on

As with delegating work to a tax accountant, knowing enough helps you save on fees. The past three years have been a battle against huge tax bills. I picked up this book to learn even the basics. With Tax Cody answering, it explains in a conversational format that knowing basic tax filing principles—not having an accountant’s level of expertise—can make a big difference. Each chapter starts with a question and works toward an answer. In chapter one, I began to understand VAT, business taxes,

Everyone who lives in this world has one thing they cannot avoid: taxes. As the joke goes, ‘You get taxed even just for breathing.’ As a sole proprietor, I often meet other owners like me. Around filing and payment time, they say, ‘I barely make anything, yet I pay so much in taxes…’ That is a little misleading, since taxes are paid because you earned something. Still, knowing about taxes can help us reduce what we owe, even a little. How unfair would it feel to overpay because we knew nothing

Have you ever run a business? Are you thinking of starting one? In the past, running a business felt far beyond me, but as I got older, more people around me started businesses. I run an online shop too. At first I worried about whether to register the business; now I worry about filing taxes because I know so little. Wanting to learn more about VAT, comprehensive income tax, and other taxes, I read “When You Understand Taxes, You See Money: For Business Owners”. It covers tax issues that can

I think taxes may be the biggest concern for people who want to start a business, and few people really understand them. I keep thinking I might try running a business or open a shop, but tax issues already make me anxious, and I still have not found the courage to do it. “When You Understand Taxes, You See Money” has the subtitle ‘For Business Owners,’ so it is good for owners, but it also offers tax tips that employees might find useful. It focuses on sole proprietors and small business

Anyone who runs a business should study taxes. I am not a business owner, but having a husband who runs a business naturally made me realize how necessary it is. When the business changed this year, I had not felt a strong need to learn about taxes because previously we were simply notified of the amount through a tax office. Starting this year, though, I really needed to learn as a sole proprietor. As an exempt business, we had been able to save quite a bit, but switching to a taxable sole