Momade Consult

Building wealth is a long journey, not a quick race. True financial freedom requires discipline, patience, and consistency. It’s not about how much you make; it’s about how much you keep and grow. Start today with small steps, and remember – every amount saved or invested is a step closer to financial independence. ???? #WealthJourney #FinancialFreedom #StartToday #NigeriaInvestments

Life gets easier when you know where your money is going! ?? Creating a budget reduces stress, helps you prepare for unexpected expenses, and ensures you’re building a strong financial foundation. Don’t wait for a ‘perfect time’—start budgeting today and take charge of your finances! #BudgetingMadeSimple #FinancialClarity #PlanSaveInvest #StressFreeFinances

? Every step forward is powered by women who dare to act. Let’s continue to celebrate, support, and accelerate progress together. ???? Happy International Women’s Day #InternationalWomensDay #AccelerateAction #LeadWithPurpose #tax #taxation #incometax

Think of your budget as a roadmap for your financial journey. ??? It helps you navigate through expenses, avoid debt, and move closer to your goals. Set realistic spending limits, plan for emergencies, and always leave room for savings. Your financial future depends on the choices you make today! #BudgetingTips #PlanAhead #MoneyMatters #FinancialSuccess

Welcome to March—may the days ahead bring clarity, purpose, and meaningful results.????? #MarchFocus #ProfessionalMindset #MonthAhead #tax #taxation #incometax

Unlocking Withholding Tax: Ever wondered why a portion of your payments disappears before reaching your account? Withholding Tax may hold the answer. Withholding Tax (WHT) is a mechanism employed by the government to ensure tax compliance and revenue collection. It's deducted at source from payments made to individuals or companies for services rendered, including dividends, interest, royalties, and contract payments. The WHT rates vary depending on the nature of the payment and the tax laws applicable. For businesses and individuals, understanding WHT is essential for budgeting and financial planning. By complying with WHT regulations, taxpayers contribute to the government's revenue stream and support public services. Let's demystify WHT and uncover its significance in Nigeria's tax system. #WHTExplained #TaxDeductions #FinancialTransparency #tax #taxes #accounting #business #finance #business #money #investing #incometax #accountant #smallbusiness #entrepreneur #financialliteracy #taxprofessional #taxplanning #taxation

What is Personal Income Tax? Personal Income Tax (PIT) in Nigeria is a tax levied on the income of individuals, which includes wages, salaries, business profits, and other sources of income. Did you know that the tax rates are progressive? This means the higher your income, the higher the percentage you’ll pay in taxes! Personal Income Tax goes directly toward funding vital public services like healthcare, infrastructure, and education in Nigeria. ?? Whether you’re an employee or self-employed, understanding how PIT works can help you stay compliant and manage your finances better. ?? #PersonalIncomeTax #NigeriaFinance #TaxEducation #KnowYourTaxes #FinancialLiteracy

Filing Taxes in Nigeria: Your Checklist ??? Tax filing season in Nigeria can be overwhelming, but having a checklist makes it easier. Here’s a quick guide: -Personal Income Tax (PIT) for individuals is typically filed with the State Internal Revenue Service. -Company Income Tax (CIT) for businesses is filed with the Federal Inland Revenue Service (FIRS). - Don’t forget VAT and Withholding Tax records, if applicable! Make sure all your documents are in order before the deadline to avoid fines. Tax filing is an annual responsibility, so let’s make it a smooth process! ?? #TaxFiling #NigeriaTaxes #StayCompliant #TaxChecklist #FinancialResponsibility

?? Love isn’t just about a day—it’s about a lifetime of beautiful moments. Celebrate love in all its forms today! ??? #LoveUnconditionally #SpreadLove #HeartToHeart #LoveIsBeautiful #tax #taxation

Personal Income Tax 101 ?????? Personal Income Tax is one of the most common taxes in Nigeria, and it directly impacts every working individual. This tax is charged on personal income like salaries, wages, rent, and even profits from businesses. But how exactly is it calculated, and what should you know to stay compliant? ?? In Nigeria, Personal Income Tax is progressive, meaning the more you earn, the higher the tax rate you pay. Here’s a simplified breakdown: 1?? Annual Earnings Up to ?300,000 - 7% Tax Rate 2?? ?300,001 - ?600,000 - 11% Tax Rate 3?? ?600,001 - ?1,100,000- 15% Tax Rate 4?? ?1,100,001 - ?1,600,000- 19% Tax Rate 5?? ?1,600,001 - ?3,200,000- 21% Tax Rate 6?? Above ?3,200,000 - 24% Tax Rate Each bracket only applies to income within that range, so you’re not taxed at the same rate for your entire income. ?? Example: If you earn ?1,200,000 per year, your tax would be: - 7% on the first ?300,000 - 11% on the next ?300,000 - 15% on the remaining ?600,000 Remember, your employer is often required to deduct this tax directly from your salary (Pay-As-You-Earn), but if you're self-employed, it’s up to you to file and pay on time! Understanding Personal Income Tax means you’re not just following the law but also contributing to the growth of our public services and infrastructure. Let’s take responsibility and make Nigeria a better place, one tax at a time! ?????? #PersonalIncomeTax #NigeriaTaxes #TaxCompliance #FinancialLiteracy #StayInformed