Lesson 9 - Income Tax Practical Examples Part 1
Anita Sajkiewicz FCCA
I'm a mentor for burnt-out accountants who want to start an online business and work from anywhere, so they can improve their well-being and reclaim their freedom.
So, we have covered the theoretical part of this masterclass and now it’s time to move on to the practical part.
I’m going to show you two examples of full income tax returns for two most common scenarios:
Just bare in mind that these are general and simple examples to show you the idea and mechanism of completing a tax return and calculating taxes due. If you intend to prepare your tax return yourself, you have to be aware that if your particular case is even slightly different, this will impact your final tax liability. In such case, the best idea is to seek advice from a chartered accountant.
So let’s move on to take a look at the practical examples…