My first tax trip
 |
Description
Book Introduction
A personalized tax guide for people of all ages and backgrounds—from wage earners just starting out in society, individual investors buying and selling stocks, successful homebuyers, and even self-employed individuals and freelancers without a business registration—all with the taxes they need to pay!
- You can preview some of the book's contents.
Preview
index
Starting the journey
Glossary of Terms
Chapter 1: Beginning Your Tax Journey: The Structure of Taxes
+Why should I pay taxes?
Types of taxes: national and local taxes, direct and indirect taxes
Three types of taxes: progressive, flat, and proportional.
[INFORMATION] What's the difference between the National Tax Service website and Hometax?
Where will taxes be spent?
Things to Remember Before Starting Your Tax Journey
+The difference between tax avoidance and tax evasion
+Why you should study taxes
Chapter 2: Income Tax and Year-End Tax Settlement Tax Saving Strategies
+Year-end tax settlement is too difficult for me
+Income tax flow
Calculating Comprehensive Income Tax
Understanding Withholding Tax
+Everything about year-end tax settlement for wage earners
What is the employee year-end settlement?
Calculating Comprehensive Income Tax: Understanding the Progressive Tax Structure and Progressive Deductions
Difference between income deduction and tax credit
Various deduction items
[INFORMATION] Various information related to the income standards of dependents
Tax-saving strategies for dual-income couples
Things you might miss when filing your year-end tax return
[INFORMATION] Income Tax Saving Tips
Chapter 3: Financial Investments and Taxes: A Tax Guide for the Smart Investor
+Financial Income Tax System: Understanding Comprehensive Taxation of Financial Income
What is financial income?
Understanding Comprehensive Taxation of Financial Income
+Tax-Saving Investment Accounts: How to Use ISAs and Insurance Products
Tax-saving benefits of ISA
Tax-Saving Traps: Tax-Free Savings Insurance
+Taxes when directly investing in overseas stocks
Taxes incurred when investing in foreign stocks
+Taxes on funds and ETFs
When will the fund pay taxes?
ETFs are also a type of fund
+ Bond Investments and Taxes
Tax Differences Depending on Bond Investment Method
+Financial Income and Health Insurance Premiums: Additional Costs You Might Overlook
How are health insurance premiums determined?
Chapter 4 Pensions and Taxes
+National Pension: A reliable elder brother. Be sure to check taxes when receiving it!
Why you pay taxes when receiving national pension
+ Retirement Pension: Smart Second, your taxes will vary depending on your ability to manage your retirement funds!
Advantages of receiving retirement benefits as a pension
Tax-saving strategies when receiving retirement benefits
+Personal Pension: Retirement funds prepared by yourself
Using your personal pension
Save taxes with a personal pension account
Pensions and Taxes FAQ
Chapter 5 Real Estate and Taxes
+Real Estate and Taxes: Basic Concepts You Must Know
+How much tax will I have to pay if I buy my own house?
Various cases in which acquisition tax is reduced
Acquisition tax saving strategies
+If I own a house, how much will my annual tax be?
I bought my house in July. When do I have to start paying property tax?
Saving on property taxes
+How much tax will I have to pay if I sell my house?
Capital gains tax calculation structure
Review of capital gains tax strategies
How to save on transfer tax
Real Estate and Tax FAQs
Chapter 6: Taxes of N-jobbers
+ Tax reporting for wage earners with side jobs
Basic concepts of comprehensive income tax filing
How much will my taxes increase if I have a side job?
+ Cases where a separate tax return is not required
Non-taxable income
Other income
+If the worker needs to register as a business owner
What is business registration?
Things to consider when registering a business as an office worker
+Does VAT have anything to do with me?
How much should I pay?
Everything about simplified taxpayers
+I am a business income earner even though I do not have a business registration certificate
Insurance planners' year-end tax settlement and May comprehensive income tax filing
YouTuber Taxes: What It Means to Report a Small Business Tax
Taxes for sole proprietors earning foreign currency
Freelancer (tax-exempt business) vs.
What are the advantages for small business owners?
Chapter 7: Inheritance and Gift Taxes: Protecting Family Wealth
+Difference between inheritance tax and gift tax
+Inheritance tax
What is inheritance?
How much is the inheritance tax if I inherit a house?
Three types of inheritance tax
Is this also subject to inheritance tax?
Inheritance tax saving points
[INFORMATION] Inheritance Tax Reform: Your Questions Answered!
+Gift tax
Gift tax, how is it calculated?
Deductions and tax-exempt gifts that reduce gift tax
Do you still have to pay gift tax in this case?
Various gift tax saving strategies
Inheritance and Gift FAQs
[INFORMATION] Virtual Assets and Taxes
[INFORMATION] Tax Savings: Items Often Missed When Claiming Income Deductions
[INFORMATION] Tax Points: Benefits Taxpayers Can Receive
Ending the trip
Glossary of Terms
Chapter 1: Beginning Your Tax Journey: The Structure of Taxes
+Why should I pay taxes?
Types of taxes: national and local taxes, direct and indirect taxes
Three types of taxes: progressive, flat, and proportional.
[INFORMATION] What's the difference between the National Tax Service website and Hometax?
Where will taxes be spent?
Things to Remember Before Starting Your Tax Journey
+The difference between tax avoidance and tax evasion
+Why you should study taxes
Chapter 2: Income Tax and Year-End Tax Settlement Tax Saving Strategies
+Year-end tax settlement is too difficult for me
+Income tax flow
Calculating Comprehensive Income Tax
Understanding Withholding Tax
+Everything about year-end tax settlement for wage earners
What is the employee year-end settlement?
Calculating Comprehensive Income Tax: Understanding the Progressive Tax Structure and Progressive Deductions
Difference between income deduction and tax credit
Various deduction items
[INFORMATION] Various information related to the income standards of dependents
Tax-saving strategies for dual-income couples
Things you might miss when filing your year-end tax return
[INFORMATION] Income Tax Saving Tips
Chapter 3: Financial Investments and Taxes: A Tax Guide for the Smart Investor
+Financial Income Tax System: Understanding Comprehensive Taxation of Financial Income
What is financial income?
Understanding Comprehensive Taxation of Financial Income
+Tax-Saving Investment Accounts: How to Use ISAs and Insurance Products
Tax-saving benefits of ISA
Tax-Saving Traps: Tax-Free Savings Insurance
+Taxes when directly investing in overseas stocks
Taxes incurred when investing in foreign stocks
+Taxes on funds and ETFs
When will the fund pay taxes?
ETFs are also a type of fund
+ Bond Investments and Taxes
Tax Differences Depending on Bond Investment Method
+Financial Income and Health Insurance Premiums: Additional Costs You Might Overlook
How are health insurance premiums determined?
Chapter 4 Pensions and Taxes
+National Pension: A reliable elder brother. Be sure to check taxes when receiving it!
Why you pay taxes when receiving national pension
+ Retirement Pension: Smart Second, your taxes will vary depending on your ability to manage your retirement funds!
Advantages of receiving retirement benefits as a pension
Tax-saving strategies when receiving retirement benefits
+Personal Pension: Retirement funds prepared by yourself
Using your personal pension
Save taxes with a personal pension account
Pensions and Taxes FAQ
Chapter 5 Real Estate and Taxes
+Real Estate and Taxes: Basic Concepts You Must Know
+How much tax will I have to pay if I buy my own house?
Various cases in which acquisition tax is reduced
Acquisition tax saving strategies
+If I own a house, how much will my annual tax be?
I bought my house in July. When do I have to start paying property tax?
Saving on property taxes
+How much tax will I have to pay if I sell my house?
Capital gains tax calculation structure
Review of capital gains tax strategies
How to save on transfer tax
Real Estate and Tax FAQs
Chapter 6: Taxes of N-jobbers
+ Tax reporting for wage earners with side jobs
Basic concepts of comprehensive income tax filing
How much will my taxes increase if I have a side job?
+ Cases where a separate tax return is not required
Non-taxable income
Other income
+If the worker needs to register as a business owner
What is business registration?
Things to consider when registering a business as an office worker
+Does VAT have anything to do with me?
How much should I pay?
Everything about simplified taxpayers
+I am a business income earner even though I do not have a business registration certificate
Insurance planners' year-end tax settlement and May comprehensive income tax filing
YouTuber Taxes: What It Means to Report a Small Business Tax
Taxes for sole proprietors earning foreign currency
Freelancer (tax-exempt business) vs.
What are the advantages for small business owners?
Chapter 7: Inheritance and Gift Taxes: Protecting Family Wealth
+Difference between inheritance tax and gift tax
+Inheritance tax
What is inheritance?
How much is the inheritance tax if I inherit a house?
Three types of inheritance tax
Is this also subject to inheritance tax?
Inheritance tax saving points
[INFORMATION] Inheritance Tax Reform: Your Questions Answered!
+Gift tax
Gift tax, how is it calculated?
Deductions and tax-exempt gifts that reduce gift tax
Do you still have to pay gift tax in this case?
Various gift tax saving strategies
Inheritance and Gift FAQs
[INFORMATION] Virtual Assets and Taxes
[INFORMATION] Tax Savings: Items Often Missed When Claiming Income Deductions
[INFORMATION] Tax Points: Benefits Taxpayers Can Receive
Ending the trip
Detailed image
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Into the book
Where exactly are our taxes going? Understanding the flow of taxes can reveal tax-saving strategies.
Just as earning a lot of money is meaningless if you don't spend it wisely, you shouldn't just pay taxes blindly; you should also know how they are being used.
---From "Why should we pay taxes?"
Income tax is literally a tax paid based on income.
The government taxes various types of income, including wages, business income, pensions, and dividends.
For salaried workers, the company deducts income tax from their monthly paycheck and pays it on their behalf. This is called withholding tax.
In principle, income tax on one year's income is paid in May of the following year.
But if you ask workers to pay a year's worth of taxes all at once, they might not be able to afford it. Concerned about that, you can understand this measure as a way to collect taxes in advance through monthly installments.
However, the taxes paid in advance do not always match the taxes I have to pay.
This is because the factors that qualify for deductions vary from person to person, such as whether you spent a lot on education or medical expenses or have dependents.
So, at the end of the year, we recalculate our income and deductions for the year and compare the taxes we actually have to pay with the taxes we paid in advance to settle the accounts.
This is the year-end tax settlement.
---From "Year-end tax settlement is too difficult for me"
What changes will occur if your financial income exceeds 20 million won? Financial income may be combined with earned or business income, and the current 15.4% tax rate may be adjusted.
Therefore, if you are subject to comprehensive taxation, you may have to pay additional taxes, but that does not necessarily mean that the taxes will increase significantly.
There is no need to be too afraid of comprehensive taxation of financial income.
The important thing is to understand what the economic impact will be and manage it in advance.
In fact, you can see how much tax you have to pay when your financial income exceeds 20 million won in the following case of Hong Mi-ja.
---From "Financial income exceeding 20 million won, how much will the tax increase?"
But there is one thing that is easy to miss here.
Since the national pension is ultimately 'income', pension income tax must be paid when it is received.
It's clear that the National Pension Service serves as a safety net for retirement, but whenever we hear news that the fund is depleted or that premium rates will continue to rise, we can't help but wonder if we'll actually receive what we paid for.
Moreover, if pension income tax is also imposed, complaints about collecting additional taxes may naturally arise.
---From "National Pension: A Reliable Big Brother, Be Sure to Check Taxes When Receiving!"
These days, there are people who are tempted by the phrase, "Acquisition tax reduction benefit that applies only until this year," and are rushing to buy a house.
The idea of a tax cut feels like a golden opportunity I can't afford to miss.
The acquisition tax reduction benefit is certainly attractive.
But real estate isn't an asset you can just decide to save a few percent on taxes.
If you make a rash purchase at the wrong time without sufficient preparation, you may end up with a burden much greater than the tax reduction you received.
---From "Acquisition Tax Reduction: Why You Shouldn't Buy a House Without Considering It"
These days, there are more and more people who work at a company while also doing a side job.
There are many ways to earn extra income, such as publishing a book, running an online store, or creating content on YouTube.
If you have this type of income, you may be subject to comprehensive income tax.
This is because, unlike when you simply receive a salary, multiple incomes are combined and the tax calculation method is different.
---From "Tax Reporting for Side Job Earners"
Although the inheritance tax and gift tax rates are the same, the fundamental methods of calculating the tax are different.
Inheritance tax is calculated based on the ‘entire estate left behind.’
A certain amount is deducted from the remaining property, and the remaining amount is subject to a progressive tax rate, which is then divided among the heirs.
Gift tax, on the other hand, is calculated based on the ‘property received by the recipient.’
A certain amount is deducted from the received property, and a progressive tax rate is applied to the remaining amount.
Gift tax and inheritance tax rates range from 10% to a maximum of 50%.
Just as earning a lot of money is meaningless if you don't spend it wisely, you shouldn't just pay taxes blindly; you should also know how they are being used.
---From "Why should we pay taxes?"
Income tax is literally a tax paid based on income.
The government taxes various types of income, including wages, business income, pensions, and dividends.
For salaried workers, the company deducts income tax from their monthly paycheck and pays it on their behalf. This is called withholding tax.
In principle, income tax on one year's income is paid in May of the following year.
But if you ask workers to pay a year's worth of taxes all at once, they might not be able to afford it. Concerned about that, you can understand this measure as a way to collect taxes in advance through monthly installments.
However, the taxes paid in advance do not always match the taxes I have to pay.
This is because the factors that qualify for deductions vary from person to person, such as whether you spent a lot on education or medical expenses or have dependents.
So, at the end of the year, we recalculate our income and deductions for the year and compare the taxes we actually have to pay with the taxes we paid in advance to settle the accounts.
This is the year-end tax settlement.
---From "Year-end tax settlement is too difficult for me"
What changes will occur if your financial income exceeds 20 million won? Financial income may be combined with earned or business income, and the current 15.4% tax rate may be adjusted.
Therefore, if you are subject to comprehensive taxation, you may have to pay additional taxes, but that does not necessarily mean that the taxes will increase significantly.
There is no need to be too afraid of comprehensive taxation of financial income.
The important thing is to understand what the economic impact will be and manage it in advance.
In fact, you can see how much tax you have to pay when your financial income exceeds 20 million won in the following case of Hong Mi-ja.
---From "Financial income exceeding 20 million won, how much will the tax increase?"
But there is one thing that is easy to miss here.
Since the national pension is ultimately 'income', pension income tax must be paid when it is received.
It's clear that the National Pension Service serves as a safety net for retirement, but whenever we hear news that the fund is depleted or that premium rates will continue to rise, we can't help but wonder if we'll actually receive what we paid for.
Moreover, if pension income tax is also imposed, complaints about collecting additional taxes may naturally arise.
---From "National Pension: A Reliable Big Brother, Be Sure to Check Taxes When Receiving!"
These days, there are people who are tempted by the phrase, "Acquisition tax reduction benefit that applies only until this year," and are rushing to buy a house.
The idea of a tax cut feels like a golden opportunity I can't afford to miss.
The acquisition tax reduction benefit is certainly attractive.
But real estate isn't an asset you can just decide to save a few percent on taxes.
If you make a rash purchase at the wrong time without sufficient preparation, you may end up with a burden much greater than the tax reduction you received.
---From "Acquisition Tax Reduction: Why You Shouldn't Buy a House Without Considering It"
These days, there are more and more people who work at a company while also doing a side job.
There are many ways to earn extra income, such as publishing a book, running an online store, or creating content on YouTube.
If you have this type of income, you may be subject to comprehensive income tax.
This is because, unlike when you simply receive a salary, multiple incomes are combined and the tax calculation method is different.
---From "Tax Reporting for Side Job Earners"
Although the inheritance tax and gift tax rates are the same, the fundamental methods of calculating the tax are different.
Inheritance tax is calculated based on the ‘entire estate left behind.’
A certain amount is deducted from the remaining property, and the remaining amount is subject to a progressive tax rate, which is then divided among the heirs.
Gift tax, on the other hand, is calculated based on the ‘property received by the recipient.’
A certain amount is deducted from the received property, and a progressive tax rate is applied to the remaining amount.
Gift tax and inheritance tax rates range from 10% to a maximum of 50%.
---From "The Difference Between Inheritance Tax and Gift Tax"
Publisher's Review
Taxes, how much have you paid and how much have you received?
Many people feel that taxes are difficult and complicated.
We only check the taxes shown on our payslips or receipts, and rarely do we consider why we have to pay them and how they are calculated.
But taxes are always with us the moment we earn and spend money.
Every cup of coffee you drink every day, every streaming service you pay for every month, and every car you use to commute to work all have taxes included.
You pay taxes when you receive your salary, when you buy a home or make profits from stock investments, when you receive a pension, and when you inherit or gift money to your children.
However, it is somewhat unfamiliar to know that the taxes we always encounter are divided into national and local taxes, direct and indirect taxes, progressive and flat taxes, and proportional taxes.
It is also difficult to understand where taxes are collected and used in the country, and how taxes are calculated and paid.
To answer these various questions about taxes, the two authors of "My First Financial Journey," financial coach Kim Seon-wook and certified public accountant Kim Ye-hee, have joined us as our tax journey companions.
Breaking the stereotype that taxes are difficult, this book comprehensively covers everything from basic tax concepts and structures to tax-saving strategies, using familiar examples and various infographics to make it easy for anyone to understand.
"My First Tax Journey" is not a book for memorizing complex tax laws, but a friendly guide that helps us understand the taxes we encounter in our daily lives and how to apply them to real life.
A journey to discover your own tax-saving strategy
This book covers everything from a basic understanding of taxes to practical tax-saving methods, so you don't have to read it from beginning to end in order.
It is enough for me to just pick out the parts I need and read them.
· I don't know where the taxes are collected and how they are used.
→ Chapter 1: The Beginning of a Tax Journey
Understand the types and forms of taxes and learn about the National Tax Service website, Hometax, and Wetax.
· Can I reduce the taxes deducted from my paycheck? → Chapter 2: Income Tax and Year-End Tax Settlement Tax Saving Strategies
We'll look at the basics of year-end tax settlement for workers, from various deductions to more detailed information.
Understand the confusing income deductions and tax credits, and check the parts that are easily overlooked during year-end tax settlement.
· I made a profit from stock trading. What taxes are levied? → Chapter 3 Financial Investment and Taxes
This article covers how comprehensive taxation of financial income is imposed.
In particular, we will look at the taxes imposed when investing in various products such as ISAs, ETFs, and funds, as well as things to keep in mind when trading overseas stocks.
· How much tax do I pay when I receive my pension? → Chapter 4 Pensions and Taxes
We'll explore the characteristics of national pensions, retirement pensions, and private pensions, and address any questions you may have about taxes that may arise when receiving pensions.
· What taxes do I pay when I buy a home? → Chapter 5 Real Estate and Taxes
We'll discuss the various taxes related to home ownership, including acquisition tax, property tax, comprehensive real estate tax, and capital gains tax, along with specific strategies for tax savings.
· I have income from a side job. How do I deduct taxes? → Chapter 6: Taxes for N-Job Workers
We'll examine tax issues across various occupations, including part-time workers, instructors, insurance planners, YouTubers, and freelancers, and learn how to handle them.
· How can I pay less tax when giving property to my family? → Chapter 7 Inheritance Tax and Gift Tax
We'll help you calculate tax-saving methods for gifts and inheritances between family members through real-life examples, and prepare for any situation that may arise.
Anyone who doesn't know what Hometax and Wetax are, who is confused about the tax office and the tax office, who has difficulty with year-end tax settlement every year, or who has to file a comprehensive income tax return for a part-time job can easily find information that applies to them and apply it to their own situation.
Furthermore, rather than simply listing an overview of taxes, we aim to provide up-to-date information on various taxes that can be encountered at every stage of life, and to include as much practical information as possible, such as inheritance tax reform, virtual asset taxation, and various tax-saving points.
The world of taxes may seem complex and difficult, but it is beneficial to know.
Let's embark on a tax journey to find out how to wisely manage the taxes we all have to pay throughout our lives and discover our own tax-saving strategies.
Many people feel that taxes are difficult and complicated.
We only check the taxes shown on our payslips or receipts, and rarely do we consider why we have to pay them and how they are calculated.
But taxes are always with us the moment we earn and spend money.
Every cup of coffee you drink every day, every streaming service you pay for every month, and every car you use to commute to work all have taxes included.
You pay taxes when you receive your salary, when you buy a home or make profits from stock investments, when you receive a pension, and when you inherit or gift money to your children.
However, it is somewhat unfamiliar to know that the taxes we always encounter are divided into national and local taxes, direct and indirect taxes, progressive and flat taxes, and proportional taxes.
It is also difficult to understand where taxes are collected and used in the country, and how taxes are calculated and paid.
To answer these various questions about taxes, the two authors of "My First Financial Journey," financial coach Kim Seon-wook and certified public accountant Kim Ye-hee, have joined us as our tax journey companions.
Breaking the stereotype that taxes are difficult, this book comprehensively covers everything from basic tax concepts and structures to tax-saving strategies, using familiar examples and various infographics to make it easy for anyone to understand.
"My First Tax Journey" is not a book for memorizing complex tax laws, but a friendly guide that helps us understand the taxes we encounter in our daily lives and how to apply them to real life.
A journey to discover your own tax-saving strategy
This book covers everything from a basic understanding of taxes to practical tax-saving methods, so you don't have to read it from beginning to end in order.
It is enough for me to just pick out the parts I need and read them.
· I don't know where the taxes are collected and how they are used.
→ Chapter 1: The Beginning of a Tax Journey
Understand the types and forms of taxes and learn about the National Tax Service website, Hometax, and Wetax.
· Can I reduce the taxes deducted from my paycheck? → Chapter 2: Income Tax and Year-End Tax Settlement Tax Saving Strategies
We'll look at the basics of year-end tax settlement for workers, from various deductions to more detailed information.
Understand the confusing income deductions and tax credits, and check the parts that are easily overlooked during year-end tax settlement.
· I made a profit from stock trading. What taxes are levied? → Chapter 3 Financial Investment and Taxes
This article covers how comprehensive taxation of financial income is imposed.
In particular, we will look at the taxes imposed when investing in various products such as ISAs, ETFs, and funds, as well as things to keep in mind when trading overseas stocks.
· How much tax do I pay when I receive my pension? → Chapter 4 Pensions and Taxes
We'll explore the characteristics of national pensions, retirement pensions, and private pensions, and address any questions you may have about taxes that may arise when receiving pensions.
· What taxes do I pay when I buy a home? → Chapter 5 Real Estate and Taxes
We'll discuss the various taxes related to home ownership, including acquisition tax, property tax, comprehensive real estate tax, and capital gains tax, along with specific strategies for tax savings.
· I have income from a side job. How do I deduct taxes? → Chapter 6: Taxes for N-Job Workers
We'll examine tax issues across various occupations, including part-time workers, instructors, insurance planners, YouTubers, and freelancers, and learn how to handle them.
· How can I pay less tax when giving property to my family? → Chapter 7 Inheritance Tax and Gift Tax
We'll help you calculate tax-saving methods for gifts and inheritances between family members through real-life examples, and prepare for any situation that may arise.
Anyone who doesn't know what Hometax and Wetax are, who is confused about the tax office and the tax office, who has difficulty with year-end tax settlement every year, or who has to file a comprehensive income tax return for a part-time job can easily find information that applies to them and apply it to their own situation.
Furthermore, rather than simply listing an overview of taxes, we aim to provide up-to-date information on various taxes that can be encountered at every stage of life, and to include as much practical information as possible, such as inheritance tax reform, virtual asset taxation, and various tax-saving points.
The world of taxes may seem complex and difficult, but it is beneficial to know.
Let's embark on a tax journey to find out how to wisely manage the taxes we all have to pay throughout our lives and discover our own tax-saving strategies.
GOODS SPECIFICS
- Date of issue: May 15, 2025
- Page count, weight, size: 340 pages | 140*220*30mm
- ISBN13: 9788936812546
- ISBN10: 8936812548
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