for income deduction
blog keywords
Facilitate cash receipt inquiry
I should have posted
It seems that only this part is missing. 현금영수증 조회
I’m just going to try to post.
First of all, what is a cash receipt and how to check it?
And let’s learn how to issue a dedicated card.
What is a cash receipt?
In Korea, consumers with cash
If you present your mobile phone number, such as a credit card or credit card,
Issued through the cash receipt issuance device at the receipt merchant 이베이스매뉴얼
This payment refers to the system connected to the National Tax Service.
And the IRS
We issue a dedicated cash receipt card.
First, at Hometax of the National Tax Service
How to check cash receipt
How to check cash receipt
First, select Cash Receipt from Tax Type Services in Hometax of the National Tax Service.
Of course, don’t forget that the first thing to do before that is to register and log in.
2. A cash receipt inquiry will appear.
Purchase history inquiry, sales history inquiry, etc.
Both businesses and non-business owners can view and confirm.
3. If you click on inquiry history first,
The screen below will appear
You can search by day, week, or month.
Accumulated usage history inquiry, cash receipt issuance method registration and correction, etc.
It is connected so that it can be used conveniently.
4. Registration of cash receipt issuance method. When you click correct
A cell phone number/card number input field will appear.
Please check again that the mobile phone number is entered correctly here.
If the phone number is incorrect, you may not be able to receive income deduction benefits in the future.
You definitely need to check.
And to get a cash receipt
Register various debit cards, membership cards, etc. so that they can be used as cash receipt cards.
became.
5. Purchasing and sales history inquiry is a system for business operators.
Entrepreneurs running a business are encouraged to use this screen.
Apply for a dedicated cash receipt card
On the screen in step 2
When you click on Apply/Register for Cash Receipt Card
You can apply for a dedicated card, so it is easy to obtain.
If you need it, please bring it with you.
Simple through hometax
Inquiry, application, and registration
Please make good use of it.
“Customer, would you like a cash receipt?”
You can often hear this message when paying with a prepaid card at Starbucks or when buying a drink with cash at a convenience store. Do you issue cash receipts? I usually pay with a credit card, but when I pay with cash or when I make a purchase with a gift card, I always issue a cash receipt.
The appearance of cash receipts began in 2005. Self-employed people generate sales in cash and are often omitted because they do not report, so the government did not receive accurate tax on their taxable income. (Even now, everyone does that when they get it in cash.)
From the government’s point of view, the tax on cash sales is really not worth it, right? So, the cash receipt system was implemented.
As a consumer, if you issue a cash receipt, you can deduct your income, but if you don’t, you lose money.
What is income deduction here?
Income deduction means deducting a certain amount from income subject to tax. Office workers make year-end tax settlements at work, and if you issue a cash receipt at this time, you can deduct the money you owe in taxes. Awesome?
How much of your income do you need to spend to receive income deduction by issuing a cash receipt?
[★30% of cash receipt issued amount exceeding 25% of total salary★]
Let’s assume that the total salary is 36 million won, and the amount of cash receipt issued is 12 million won.
25% of the total salary of 36 million won is 9 million won, and the amount spent in excess of 25% of the total salary is 3 million won, which is 12 to 9 million won. 30% of this 3 million won is 900,000 won, so the amount that can be deducted from income is 900,000 won.
How to check cash receipt
You can check the cash receipt by going to the “National Tax Service Hometax”.
Search for cash receipts on Naver and click the link that appears!
Click “Cash Receipt” in the service by tax type.
In the middle, select “Cash Receipt Inquiry”. If you are curious about the daily, weekly, or monthly usage amount, click “Search Usage History”.
Today, we learned about cash receipt income deduction and inquiry method. I think you need a strategy to properly use cash receipts and credit cards to receive advantageous income deductions for year-end tax settlement. The road to Zhan Tech is long and difficult.. Anyway, it would be better to get as much money back as possible, so I hope you all do the math and use it~
Most of the consumption is by card payment, but sometimes cash is used. If you receive a cash receipt at this time, you can save tax through income deduction or proof of expenses. If you are a beginner or starting a business for the first time, there may be some things you don’t know about, and even if you do, you often overlook it because it’s annoying.
What is a cash receipt?
When paying with cash when purchasing or consuming goods, the merchant must issue a receipt with payment details such as the date and time of the transaction and amount. Through this, consumers can receive income deduction benefits or VAT input tax credit, and the National Tax Service will grasp the sales of the relevant company and tax it.
Income deduction if you are an employee
The first reason for cash receipts is because of income deductions. Office workers do year-end tax settlements every year, and some people get a refund and some have to vomit. For this, it may be advantageous to receive it well. If you use more than 25% of your total salary, you can receive a 30% income deduction for the excess amount (15% for credit cards). 2.5 million won, over 120 million won 2 million won
*In 2020, the above limit was temporarily raised by +300,000 won, and the income deduction rate was also expanded. In 2021, it was confirmed that the extension would not be possible, and instead, if the amount used increases by more than 5% compared to the previous year, an additional 10% will be deducted for the increase in excess of 5%. (Additional limit of 1 million won)
For example,
A person with a total salary of 50 million won
If you used 20 million won for the new car alone
5,000 x 25% = 12.5 million won
20 million won – 12.5 million won = 7.5 million won (amount in excess of 25%)
7.5 million won x 15% = 1.12 million won
If you use Shincar 12.5 million won + check card or cash receipt 7.5 million won
7.5 million won x 30% = 2.25 million won
Those who are thrifty use a credit card up to 25% of their total salary, and use a debit card or a cash receipt for the excess amount for tax savings.
If you are a business operator, use it as proof of expenses
If you are a sole proprietor, you can use it as proof of your expenses. If you are in business, you will incur expenses in several places. Major customers issue tax invoices, so there is no problem. However, when paying in cash at restaurants or stationery products, you can save tax if you take good care of your cash receipts.
In addition, if you pay online by bank transfer, you must select for proof of expenditure, and through this, you will be able to receive VAT input as well as necessary expenses recognized.
In this case, it cannot be issued.
When paying by credit/debit card, utility bill payment, insurance premium, management fee, etc.
How to apply is simple.
① 126 phone call or Hometax or Sontax membership registration is required.
126 phone screen
② Application for cash receipt
③ Authentication
④ User registration
There is no need to obtain a dedicated card, and you need to register your check card and hand-fun number.
⑤ Present a phone number or check card along with a request for issuance of a cash receipt at a member store such as a restaurant or mart.
⑥ In case of online account transfer or simple payment, check the box at the bottom for income deduction if you are an office worker or for proof of expenses if you are a business owner
⑦ You can check whether it was issued properly by going to Hometax → Cash Receipt Inquiry → Usage History Inquiry.
Apply for Voluntary Issuance
If you have not received a cash receipt, you can voluntarily issue one. For this, you need to know the approval number, transaction date, and payment amount, but the problem is that you need a receipt.
Because there are so many people and it is complicated, there are cases where I forgot to come out.
hello? It’s a dragon. The reasons for cash receipts are income deductions and tax savings, as explained above. Even if you look around me, including myself, most of them spend with credit cards, and even if they pay in cash, it seems cumbersome so they just go.
Even if it is a small amount, if you spend 100,000 won in one year, you can’t ignore it, so please take it carefully.