2023 New BIR Rules for BIR Form 2500M (Monthly VAT Returns): What You Need to Know The New Year is shaping up to be a year of positive change as the BIR reports simpler VAT filing requirements for taxpayers. Here’s a rundown of how this change will affect you: The… Read MoreVAT Filing 2023 Update
It wasn’t all sunshine and rainbows for Julian Cañita when he decided to live abroad with his wife. Struggling to find a stable job then, he had to step up his game and hone more skills to succeed in the demands of tomorrow. That was when he discovered digital marketing.… Read MoreTaxumo Heroes: Julian on Self-Growth and Helping Other Businesses Grow
What are the best bookkeeping tips for self-employed individuals? One of the biggest walls that self-employed individuals often run into is handling their finances. It’s more than just filing and paying their taxes – because those in the Philippines can use an online tax calculator for that – but the… Read More5 Bookkeeping Tips for Those who are Self-Employed
For Filipino freelancers, taking the leap from their corporate jobs into the wild world of online freelancing can be a daunting start to a rewarding career.
Luckily, it’s not as scary as it used to be. Many freelancers will not face the same problems that those who started years back had encountered, thanks to the web-based freelance mentoring platform Online Jobs University.
Below, we get to know more about Genesis, the founder of Online Job University, and his precious advice for Filipino freelancers, and just about everybody who wants to pursue their passion and make a difference:
Read MoreTaxumo Heroes: Genesis Shares His Winning Advantage to Filipino Freelancers
It wasn’t always living a life he truly wanted for himself.
Before Raffy Vicente set out to build his own consultancy firm, he was working full-time as an employee for almost a decade.
He yearned for something more fulfilling, career-wise: a level-up of some sort. That was the time he decided that it was time for a change.
But while it was the desire for freedom that had made him leave, it was ultimately his burning passion and relentless drive that eventually built and grew his company, RV Marketing Services.
Below, Raffy recounts his rewarding journey from leaving the corporate world to joining the growing pool of successful entrepreneurs who continue to defy their comfort zones, in the name of following and living out their passions:Read MoreTaxumo Heroes: Why Paying His Income Tax Won’t Stop Raffy from Pursuing His Passion
The proposed income tax reforms have been hogging the headlines lately. Based on the latest draft at end of February 2017, an annual basic salary of P250,000 that used to be taxed as high as P37,500, will now be ZERO (not a typo). Everyone can’t wait for this to happen. It’s about time to experience a tax REDUCTION for a change.
But while national taxes (e.g. income taxes) are getting all the media attention, there is set of taxes that are under the radar, and have risen significantly in recent years. I’m referring to city/municipal or “local” taxes.
Read MoreWhat Can We Do with High Local Taxes in the Philippines?
There have been various news coverage on the election of Donald Trump, and how Trump’s “America First” policies could negatively impact our country’s thriving business process outsourcing or BPO industry. Many are concerned of possible US legislation that could discourage companies from further outsourcing. Or that they’ll make offshore services more expensive through some form of “border tax”. Analysts estimates well over 50% of BPO revenues emanating from the US or US companies. And some industry stakeholders, especially BPO employees, are frankly scared.
Read MoreHow President Trump May Hurt (or Help) the Philippine BPO Industry
Lowering taxes in the Philippines is possible, but it will take a lot of compromise for us to move things forward. HOW CAN IT BE DONE? There’s been several proposals of late aiming to lower the tax rates for the Philippines’ middle class. These include, among others, lessening the individual income tax… Read MoreHow can we get lower taxes in the Philippines?
Hi guys, please check out a couple of our earlier blogs/episodes to follow JCruz’s tax questions. Our triathlon coach, JCruz, is now at a stage where he’s choosing between accepting BIR’s peace offering, the Optional Standard Deduction (OSD), or attempt to identify, segregate, and document all his receipts/expenses. His… Read MoreOption O, or Option Ooh (Episode III)
Join 100,000+ business owners and freelancers using the Philippines’ #1 online tax tool. Automate your filings, gain total peace of mind, and stay safe from costly penalties. We’ve got your back!