Manuscript Income Tax Calculator - Personal Tax Websiteofficial website

Manuscript Income Tax Calculator - Personal Tax Websitepresent (sb for a job etc)

Introduction to financial management websites

Financial Management Website: Personal Tax Calculator for Manuscript Income - PersonalTax.com, a website specializing in personal tax calculation service for manuscript income, aims to help individuals accurately calculate the amount of tax payable on manuscript income.

Calculation formula for income from manuscripts

Taxable income = Income from manuscripts (not exceeding $4,000) - $800

Taxable income = Income from manuscripts (over $4,000) x (1 - 20%)

Taxable amount = Taxable income × 14%

Introduction to Income from Manuscripts

I. Scope of the levy

Income from manuscripts refers to income derived from the publication and dissemination of an individual's written (or photographic, calligraphic, or pictorial) works in the form of books or newspapers, including income derived from manuscripts and reprints.

II. Tax rates

A proportional tax rate of 20% applies to income from manuscripts, which is reduced by 30% on the taxable amount, with an effective tax rate of 14%.

III. Calculation of taxable income and taxable amount

Case Notes

In 2018 novelist Yang Bao, who wrote and published the book "A Book of Individual Income Taxes," was paid $20,000 by the publisher for the manuscript, and was liable for $2,240 in individual income tax.