Seriously though, it is tax season, and I would like us to chat for a bit about how to manage our taxes.
I'll share 7 ways you can reduce the taxes you pay legally, and then we go to Q&A.
1. The matching our employer would do (which is like someone giving you free cash); and
2. The tax savings.
Don't be that person who refuses money #FileWithUshuru
a) A daily per diem not exceeding KES 2,000
b) Bonuses, overtime pay, and retirement benefits if you are in the lowest tax band (KES 12,298.33 p.m). Those of us who have helpers, please note.
The above 3 benefits/types of pay are not taxable #FileWithUshuru
Interest you pay on this mortgage is allowed as a tax deduction to a max of 25k per month. #FileWithUshuru