One of the common questions that we come across from doctors in thinking about doctors taxes is what are the allowable deductions for my tax computation in the Philippines? With all of the expenses that I have, what will the Bureau of Internal Revenue allow me to declare. What tax… Read MoreTax Deductibles that Doctors Should Be Claiming
Tax Computation in the Philippines is just so hard! Taxes are a crucial part of life for every working individual in the Philippines. While it’s common for business owners and professionals to hire accountants or tax professionals due to the perceived complexity of tax compliance (and the tax computation in… Read More5 Reasons Why You Should Do Your Own Taxes
Hello, April! April is also one of the busiest months here at the Taxumo Headquarters. And, you probably know the reason why… it’s because everyone’s thinking about their ITR. Everyone’s scrambling and asking us how to prepare, file and pay for their Annual Income Tax. With this, to help… Read MoreHow to File Your Annual ITR (1701A or 1701 or 1700) Using Taxumo
If you’ve ever renewed your BIR business registration, then you would know that it’s a long and tedious process. The first step would be to go to your Bureau of Internal Revenue Revenue District Office or RDO which is located in the city where your business is located and submit… Read MoreThere’s an easier way to renew your BIR Business Registration
On April 25, on the deadline of filing the Quarterly Percentage Tax Form, the BIR released RMC 26-2018 which has the new 2551Q form and the submission procedures for manual, eBIRForms, and eFPS. The new 2551Q Form now has a field where you can indicate whether you’re opting for the… Read MoreBrand New 2551Q Form (Quarterly Percentage Tax) with 8% Opt In
Everyday, people spend money on goods and services in the Philippines. It may be buying a new luggage for travel. Or having a hair treatment done at a salon. And oftentimes, we see “VAT” included in the receipt. Some people are aware of what it is while some think it’s… Read More2550m: How To File This BIR Form In a Breeze
BIR Form 1604E is also know as your Annual Information Return of Creditable Income Taxes Withheld (Expanded)/ Income Payments Exempt from Withholding Taxes. Sounds like a mouthful, right? Now let’s dissect that one by one. Withholding tax, in a nutshell, is the income tax liability deducted by the withholding agent… Read MoreWhat You Need to Know About the New Expanded Withholding Tax (BIR Form 1604E)
As a freelancer or business owner, filing your taxes is one of the most important things that you need to accomplish. And in this digital era, you can easily accomplish this with the BIR online registration via eServices. How do I file taxes online? If you want to file taxes online, you… Read MoreBIR Online Registration and Tax Filing Under TRAIN
Have you ever heard of BIR form 2550q? Well, it should be familiar if you are an individual involved with a business or trade. Responsible tax payers take time in learning the process aside from the basics of the tax system in the country. In every good or service enjoyed… Read MoreFiling the 2550q BIR Form In 1-2-3
Since October 2014, filing tax returns through eBIRForms has become mandatory for non-eFPS (Electronic Filing and Payment System) taxpayers and Accredited Tax Agents. This is true whether or not they are going to use an online tax calculator in the Philippines. Take note, however, that Taxumo is a great alternative… Read MoreHow to Use eBIRForms to File Your Taxes Online