What can you expect from the Train Law Package 2? Decrease corporate income tax Regulate fiscal incentives Attract better and high-quality opportunities It hasn’t been that long since the first package of the current administration’s Comprehensive Tax Reform Program (CTRP) was passed into law. The Tax Reform for Acceleration… Read MoreTRABAHO: Train Law Package 2 and Its Expected Effects
In the freelancing world, the BIR Form 2307 is a common sight. It is one of the most important forms that a freelancer will encounter since they are required to attach it with their 1701 or 1701Q form. One of the many reasons why this form is needed is because… Read MoreAll the Basic Stuff You Need to Know About Your BIR Tax Form 2307
In what ways can you make filing your taxes easier? Keep track of all your tax documents Make use of tax filing software Manage your time wisely Separate your personal and professional expenditures Only a handful of people are able to say that they genuinely enjoy filing their taxes. Others… Read MoreAll You Need to Know to Make Filing your Taxes Easier
What do online freelancers struggle with the most? Discipline and time management Client demands and requirements Financial knowledge and management Work-life balance Becoming an online freelancer has become widely accepted. As more people prefer the comfort of their homes or coffee shops instead of a corporate office, the freelancing route… Read MoreThe Struggles of Being an Online Freelancer in the Philippines
What mistakes should be avoided when filing freelance taxes in the Philippines? Presenting incomplete and incorrect data Miscalculating the tax due Not declaring every income earned Missing the deadline Filing taxes as a freelancer in the Philippines can be difficult and confusing. Plus, the introduction of the TRAIN law certainly doesn’t help… Read MoreTax Filing 101: 4 Mistakes You Shouldn’t Make
What do you need to know about BIR Form 1901? The primary purpose of BIR Form 1901 The people who need to file BIR Form 1901 The steps you need to take to file the BIR Form 1901 Under the established TRAIN Law, all Filipino workers (aside from minimum-wage earners)… Read MoreA Comprehensible Guide for BIR Form 1901
Unsure how to start with the confusing and overwhelming BIR registration procedure? Worry no more. Our comprehensive 12-step BIR registration guide for doctors/physicians will run you through all that you need to know about tax filing and payment. But not just that, but a more convenient yet less time-consuming guide for you as a doctor/physician.
BIR registration can be a daunting process, so much so as a doctor/physician with overwhelming obligations. Considering the heavy demands of your profession, familial duties, and outside commitments, you have to improvise to keep up with your duty as a citizen. Furthermore, addeto that complication are the overwhelming procedures and inconsistent documentary requirements imposed by some BIR Revenue District Offices (RDOs). And this can be confusing for you, as a taxpayer. Nevertheless, registering your profession is necessary. More so, by registering, you get to fully benefit from self-employment in ways other than what you initially intended.
For this reason, we will run you through a detailed and comprehensive guide to assist you on how to register with BIR as a doctor/physician. This guide is applicable to all self-employed and mixed-employed doctors/physicians wanting to register with BIR. Other professionals and self-employed individuals can refer to this guide as well. Read on!
Your books of accounts will give you a clear image of how your business is doing today. Staying on top of your books of accounts will help you learn how to compute tax and run your business better. Knowing where your money goes will help you create effective business decisions.… Read MoreBookkeeping 101: A Guide for the Self-Employed
First off, congratulations! You are now collecting taxes on behalf of the BIR through expanded withholding tax. Granted, you probably didn’t really have a choice but, fret not: compliance to this tax type is not as hard as you think. And with some tools (*cough*Taxumo*cough), it’s not much more effort!… Read MoreMaking Sense of Expanded Withholding Tax – Forms 2307, 0619E, 1601EQ, and the QAP
Contemplating if a Self-employed professional like you should pay taxes? Self-employed professionals as defined by the BIR fall under two categories: (1) “persons who derive their income practicing their profession” like lawyers, and those registered with the Professional Regulation Commission (PRC) such as doctors, dentists, certified public accountants, and others;… Read More4 Great Reasons Why Filing Taxes Will Benefit Your Life (For a Self-Employed Professional)