Are you wondering how to calculate personal income tax on your business earnings? Here's a simple guide! First, determine your total business income revenue 💰. Next, subtract all allowable expenses related to running your business, such as supplies, utilities, and marketing costs ✅. This will give you the net profit. From this amount, further deduct any personal allowances or exemptions provided by local tax laws 🏠. Finally, apply the applicable tax rate to find out how much you owe to the tax authority ⚖️. Remember, accurate record-keeping is key to ensuring compliance and maximizing deductions 📝. For specific details, always consult with a tax professional or refer to official tax guidelines 🧑‍💼. Stay informed to make the most of your hard-earned profits! 💡