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 More »The 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 More »Tax 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 More »A Comprehensible Guide for BIR Form 1901
How to Register Your Medical Practice With the BIR: A Comprehensive 12-Step Guide For Doctors / Physicians
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 More »Bookkeeping 101: A Comprehensive Guide for the Self-Employed
First off, congratulations! You are now collecting taxes on behalf of the BIR. 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! Now, before you proceed… Read More »Making Sense of Expanded Withholding Tax – Forms 2307, 0619E, 1601EQ, and the QAP
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; and (2) those “who pursue an art and make their… Read More »4 Great Reasons Why Filing Taxes Will Benefit Your Life (For Self-Employed Professionals)
When should you consider hiring a tax professional? When you are new to filing taxes When you are earning more When you have a complicated financial situation With many online services in the Philippines such as online tax calculators and tax management software, people now have many ways to do… Read More »Top 3 Reasons When Hiring a Tax Professional Makes Sense
What are the best bookkeeping tips for self-employed individuals? Keep logs of your income & expenses. Hold on to all financial documents. Separate professional and personal assets. Educate yourself in finance and taxation. Make use of available tools available to simplify the process. One of the biggest walls that… Read More »5 Bookkeeping Tips for Those who are Self-Employed
What are the guidelines that you should follow in filing freelance tax in the Philippines? Check and see if you are exempted from filing and paying your taxes Register with the BIR Prepare the necessary documents The Philippines is home to many homegrown talents in various other industries. According… Read More »Quick Guidelines in Filing Freelance Tax in the Philippines