Individual taxpayers are looking forward to a lower tax rate and better take-home pay in 2023. What could be the best way to start the year than to know that your tax is now lower and you will be able to take home a bigger pay? There are various changes in our tax system in …
New BIR Tax Table 2023 for Individual Income Tax Read More »
Outsourcing is paying an outside company or an expert on the field to perform tasks for your business (Lutkevich B.). Here are some of the reasons why you should consider this option: 1. You don’t have to pay for employee benefits. As has been said, an outsourced company isn’t your employee, so you will not …
Why Outsourcing Your Bookkeeping and Tax Preparation Could be the Best Choice? Read More »
Going Paperless is not a trend, but a necessity. “It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.” – Charles Darwin With today’s growing modernization and the continuous existence of abrupt changes, have you ever thought about how your business will survive? Going …
The Eight Percent Rule (not for investing, but for self-employed individual taxpayers) Wonder how you can save on taxes? The eight percent option might work for you. Here are the 4 conditions: You must have less than P3M gross sales/receipts; You are not VAT registered, and are not subject to any other kind …
If you are not a fan of writing especially on your manual books of accounts, there is a way to get away with these daunting tasks. Here are the steps to finally say goodbye to the manual book of accounts: 1. Use a spreadsheet to record all your transactions or better yet …
When do you think you need to outsource your accounting/bookkeeping? Here are some signs (but there could be more)- 1. Bookkeeping is eating up your time. You are scurrying your books to get balanced. The time you should better spend innovating or growing your business. 2. Your books are never updated. Thence, you neglected …
When It’s Time to Outsource Accounting and Tax Services Read More »
Every small business owner dreams of paying fewer taxes or not having to pay any taxes at all, and it’s not as hard as you to think to be one. We have been handling businesses with this privilege and our experience with them and with the BIR summarized the requirements for qualification below. Actually, …
Your Guide to Tax Exemption as a Barangay Micro Business Enterprise (BMBE) Read More »
A question to be answered by questions and bonus tips that you would not want to miss. You are a business owner. You started small but you dream big. You have plans of scaling up in the future because your business is doing well. You want to put on branches, expand the network, product, …
