🌻 Forest Accounting Course Episode 169: The Option of Applying for a Reduction

If your sales are down this year, are you aware of the application for reduction of estimated tax payments?

"My sales are down this year..."

Fox-san looked down.

I earned a lot last year, but this year is a bit tough. In times like these, paying the same amount of estimated tax as last year is difficult.

However, there is a way.

What is an application for reduction?

If your estimated tax amount for this year is lower than last year, this is an application to have your estimated tax payment reduced.

You apply to your local tax office.

Application deadline: July 15th

If you want to reduce your first installment (July) of estimated tax, the application deadline is July 15th.

If you miss this, you will have to pay the first installment as usual.

What you need for the application

• "Application for Reduction of Estimated Tax Payment" (available at the tax office or via e-Tax)

• Estimated income and expenses from January 1st of this year to the date of application

You don't need to overthink it. You just need to write down your estimate of what your income will be for this year.
Fox-san looked up.

Fox-san looked up.

"I didn't know that... you saved me."

Hito-chan says, "If you know about it, you have a choice."

There may still be time for some of you before July 15th. If your sales are down, please check it out first.🌿

#ForestAccountingCourse #EstimatedTax #ApplicationForReduction #Freelance #Taxes

🌸 For those meeting me for the first time, here is an introduction to Tax Accountant Hito-chan.

📚 For those who wish to continue reading, the "Forest Accounting Course" is compiled here.