Introduction to Income Taxation | Part 1 | Glen Ramos

[marvinpastolero]

this is very helpful for me because i have got a lot of learnings . i love the way you explained it. continue doing related content. have a blast.

[edenvandervegt]

Sir Glen Ramos . You’re a very good Professor. If I’m still a student I would be very good listener. Anyway . I’m your new subscriber Sir Glen . I’m retired OFW. I just wanted to enlighten my knowledge about my simple business taxation… Thanks for your inspiring explanation. I learned a lot. Looking forward for your next videos. More power 👏👏 God Bless you.

[aysonmarychelle]

Ayson, Marychelle E.
BSBA 2-A

The first lesson in this Midterm is all about The Introduction of Income Taxation. I have learned in this topic about the concept of income taxation, why is income subject to tax and what is income for taxation purposes. Furthermore, I have learned the difference between Gross Income and taxable income. Gross income it refers to any inflow of wealth to the taxpayer from whatever source legal or illegal that increases net worth while taxable income refers to certain items of gross income less deduction. Also, if taxable it called the gross income or inclusion in gross income. If it is not taxable it called "income exempt from tax or exclusions from gross income". I have learned so much in this topic because you gave a lot of examples for us to really understand our lessons.

[sammy]

Thank you very much sir .. you don't know how much you've saved my life 🥺😩😩

[ignaciomaryrosebaterina]

Ignacio, Mary Rose B.
BSBA-2D

This lecture taught me again why income is subject to tax and the purposes of income taxation. I also learned the ability to pay theory, where those who have more should be taxed more and those who have less should contribute less. Under the TRAIN Law, the new computation for Taxable Income is Gross Income - Deductions. I also learned the elements of gross income and had a grasp of knowledge about it. I also learned what is return on capital and return of capital, where return on capital is taxable while return of capital is not taxable. The sample illustrations from this video lecture made it easier for me to understand what is taxable and not taxable in income taxation.

[adaymyleneb.]

ADAY, Mylene B.
BSA 2-A

I've learned about the video discussion is the Concepts of Income that has the measure of taxpayers' ability to pay tax. Under the NICR is referred to as ''gross inome'' or ''inclusion in gross income''. Gross Income the total income earned by an individual on a paycheck before taxes and other deductions. And there are no longer personal exemptions under TRAIN law. Gross income has three elements which are: return on capital, realized a benefit and it is not exempted by law, contract or treaty. Also the Return on capital that increases net worth but taxable and the Return of capital that maintains net worth but not taxable.

[heymajoy]

Bagni, Mary Joy C.
BSBA 2A
-For todays lesson I've learned about each concept of income. Additionally, I get to know the differences between the gross income and taxabale income also on how to compute for that. Also I was able to know the elements of gross income especially the return on capital, with that I differentiate the return on capital between return of capital and its policies. Looking forward to learn again from you sir, btw happy world teachers month : )

[francellazarogoli]

Thank you for this lessons po, madali po maintindihan yung topic kasi ang husay niyo po. Lalo na yung malalalim na terms napapababaw niyo. Laking tulong po! More power po sa yt channel niyo <3

[aaroacademy]

very informative video. Thank you for uploading this one.

[riverakyrell]

RIVERA KYRELL
BSBA 2D

I've studied the various taxable income computations under the NIRC and the TRAIN Law. The three major components of gross income, as well as the distinction between return on capital and return of capital, are examined. I learned about the capital goods regarded to have infinite worth in the last half of this video conversation.

[hachikoygaming]

Thank you for this video i can easily understand our lesson more. looking forward for more uploads of this kind of lesson❤️❤️

[majoyskiee_official]

Llorera, Mary Joy F.
BSBA 2B


In this lesson, I've learned that the ability to pay theory is based on having more source of income and the less source of income, the more the income/ salary earned the more it will be taxed and the less the income is, the less will be taxed which is favorable and still considered fair.
And I also learned the three elements of gross income which are: return on capital, realized benefit and not exempted by law.

[tandoccatrinaocampo]

Tandoc, Catrina O.
BSA 2A

Today I learned about the concept of taxation (why is income subject to tax and what is income for taxation purposes). In this two concept, income subject to tax is the best measure of taxpayers ability to pay their taxes while income for taxation purposes, under NIRC, income is referred to as gross income. I also learned about the ability to pay theory which states that taxpayers should be required to contribute based on their capacity to sacrifice for the support of the govern. I understood the difference between Gross Income and Taxable Income, and return on capital and return of capital. Capital items deemed with infinitive valur and are incapable of pecuniary valuation.

[prejellanajennifercamat]

Prejellana, Jennifer C.
BSA-2B

Today, I learned that income has a two concepts which are income is subject to tax and income for taxation purposes. Income is subject to tax because it's measure the taxpayer it's ability to pay. Under this concept there is "Ability to pay theory" which states that those who have more income should be taxed more while those who have less should be taxe less. I also learned that a tax concept of income is gross income which under the NIRC. Gross income has three elements which are: return on capital, realized a benefit and it is not exempted by law.

[macatangaynimphalynr.]

Macatangay, Nimpha Lyn R
BSBA 2A

I've learned about the Concept of Income. There are 2 questions, Why is income subject to tax, that it measure the tax payers ability to pay tax and What is income for tax purposes. Under the NIRC ( National Interval Revenue Code) under the Train Law. I also learned the different elements of Gross Income and there are two kinds of return which is return on capital and the return of capital.

[aspirasrheannaphearl]

Aspiras, Rheanna Phearl D.
BSBA 2A
For today's lesson, I've learned that under the concept of income, we have two questions that we need to answer. These two questions are “Why is income subject to tax?” (Those who have more should be taxed more even though they receive way less than from the government and those who have less should be taxed less even though they receive way better from the government) and “What is income for taxation purposes?” (the concept of income is referred to as gross income). Gross Income is any inflow of wealth to the taxpayer from whatever source, legal or illegal, that increases net worth. Taxable Income refers to the certain items of gross income less deductions and personal exemptions allowable by law, under the NIRC. But, under the TRAIN Law, there are no longer personal exemptions in getting the Taxable Income. I’ve also learned about the three elements of gross income.

[aybsdigitalcreations]

Thank you for making this video. I hope you'll make more vids about income taxation ❤

[quindaramialiwanag]

Quindara, Mia L.
BSA-2A

I have learned that income is subject to tax because the states required to contribute for the support of government by paying income tax. Under the NIRC, the tax concept is referred to as "gross income", and taxable income is an "item of gross income." To get the taxable income of gross income, we must use the formula under the Train Law which is Gross income less deductions and this will equal to taxable income. Other than that we should also keep in mind the elements of gross income: 1) it is a return on capital that increases net worth- example markup for purchasing & selling goods.
2) it is a realized benefit and 3) it is not exempted by law, contract or treaty.

[narbonitajaser]

NARBONITA, JASER R.
BSBA-2B

Many topics was taught to me, including the concept of income, why income is taxed, and what taxation is for. The theory of ability to pay, as well as the right method of taxing an income, are also important considerations. Also there are 3 elements of Gross Income and had a grasp of knowledge about it. I also learned the difference between return on capital and return of capital, which is taxed while return of capital is not. The best indicator of a taxpayer's ability to pay taxes is their income.

[fernandezjudyanns.]

Fernandez, Judy Ann S.
BSBA 2A
In today's discussion, I've understood the concept of income; why is income subject to tax and what is income for taxation purposes. Everyone should be taxed regarding to their income or if they have the ability to pay taxes. The gross income also includes in this topic, it could be income in employment, business, properties, and any casual transactions. I've also learned how to get the taxable income if it is under the NIRC or TRAIN Law. Lastly, the elements of gross income; return on capital, is a realized benefit, and is not exempted by law, contract or treaty.