“I saved 1 billion won in retirement funds and paid 700 million won in taxes...”
Recently, monthly rent is increasing instead of jeonse. So, I will tell you what happens to health insurance premiums and how you can save as much as possible.
Just remember this about health insurance premiums. All you have to do is maintain your employment subscribers within legal means, regardless of means. First of all, you need to understand what an employee subscriber, a local subscriber, and a dependent are.
*Employee subscribers
Employee subscribers literally have to receive a salary from their company. Here, the boss who pays the salary also becomes an employee subscriber. If you are not working for a company, you can hire someone by paying them a salary.
*Dependent
A dependent is a person who makes a living without income due to an employee's insurance policy. So, employed subscribers and their dependents are grouped together. So dependents cannot have income.
*Local subscribers
And except for the two cases above, all others are local subscribers.
Small monthly rent creates a huge amount of health insurance premiums.
Let me tell you about a case where I actually received a huge health insurance premium. Among seniors who own a house, there are those who live in an officetel or small studio apartment on monthly rent.
If you receive a small amount of rent of 500,000 won or 1 million won per month, after a year it will be about 10 million won, right?
If so, all of this will be taxed. If taxation is due, you must file a business status report in February and a comprehensive income tax return in May. You do not have to file a business status report for February, but you do need to file a comprehensive income tax return for May.
However, since these people are retired seniors, their only income is monthly rent.
Although monthly rent is not salary, it is called business income because it is received repeatedly. You will report your business income in May, and eventually you will generate income.
In that case, I was a dependent under my spouse. I receive monthly rent, but I am not an employee because I do not receive a salary. And since I have income, I am not a dependent. Then you become a local subscriber.
What happens when you become a local subscriber
What happens if I become a local subscriber?
It's different from an ordinary office worker. Additional points are assessed for income from all property, including cars, houses, and yachts. We really do it all.
Insurance premiums vary depending on the score, and as the number of taxable entities for which points are calculated increases, the premium goes up.
Half of the workers are paid by the company, but those who live on monthly rent do not have a separate company. That's why health insurance premiums are so high.
health insurance bomb
the only way to avoid
There are ways for these people to reduce monthly rent or maintain employee subscribers.
In order to maintain your employer's membership, you need to receive a salary or do a job that pays a salary. In this case, both the employee subscriber and the business income will run in parallel, but the employee subscriber will take priority. You can avoid the health insurance premium bomb with these two methods.
In the end, being an employee is the best choice.
The story of saving 1 billion and paying 700 million in taxes
In fact, there was an elderly couple in their 70s who just sold their house because they didn't want to pay 200,000 won for a tax accountant's consultation fee. It was a house in Seoul, and the transfer difference was 1 billion won. However, due to tax exemption, 700 million won out of 1 billion won was lost in taxes.
If someone had been there to help, this wouldn't have happened.
In the future, I hope that you will study how to save taxes as much as possible within legal means and create cash flow.