Im in my 4th yr of college and i'm disappointed in our school system.. Im about to enter society and i still dont know these kinds of thing which are very important in our life.. No one Taught me this.. But still you can change this.. I'm educating my self in preparation for the battle called life.. Im learning more in these kind of platform than in school.. Thank you for this content its very informative.. Keep hustle people
im 17, planning to move out as soon as im ready, and im trying to learn taxes because i know im gonna come across a lot of those when im finally legally independent.
Salamat sa inyong video ate. I might be a bit young to worry about taxes and all this adulting stuff, pero I'm relieved that there's content like this that I can turn to when "responsible adulting time" comes one day. Thank you again! 💕💖
Ms. Charm, alam nyo bang January ko pa pinapaulit ulit tong video na to at isa tong video na to sa dahilan kung bakit ko naintindihan ang taxes na yan. Thank you so much, very very nice video!
Notes: Check out Taxumo now: txmo.co/ready2adult 10% Discount Code: ready2adultph Withholding Tax (More on this in a future video) - You can use this to reduce the amount you pay in your income tax , like a GC you receive from your clients to pay for income tax. Money is not gone when you pay withholding tax. **How to avail of 8% income tax rate option ► www2.deloitte.com/content/dam/Deloitte/ph/Documents/tax/ph-tax-in-a-dot-june2018.pdf *Optional Standard Deduction not Optimize, sorry haha
@@CharmdeLeon Hi, I have a question Miss Charm! :) I was checking out my Form 2303 earlier and saw a note saying "If qualified and opted to avail of the 8% income tax rate, the filing of quarterly percentage tax return is not required for the current taxable year the option was made". I started only started working this year as a self-employed English tutor and chose the 8% tax rate. Does this mean that I don't have to file for quarterly income tax returns this year?
Just discovered your page and I love it already! This video was so helpful, and well put together -- by far the best video on taxes I've seen! Looove your content 💗💗💗
Thank you so much for the ideas. Your content is very informative because I am planning to build a business soon. It gives me a lot of information. Thank you so much.
Thank you for this! To be honest, for several days of finding answers to my overthought questions, your video has given me a lot of useful info! May I just ask, what if the registered business has no sales at all? From my knowledge so far, the tax it will have to pay for is the registration (which costs around 500) annually, what else should be paid within the year aside from that and how often? How do we take advantage of the taxes from expenses while we don't have revenue yet? Thank you so much!
If your business has no sales for the current year and then you incurred expenses then that means that your profit for the year is negative or you currently operating at a loss. Meaning you have no taxes to pay. But you still need to file. This loss however can be carried over as a deduction on the next 3 succeeding years. But for losses incurred in 2020 and 2021 calendar year it can be carried over for 5 years.
hi yes please id love a video deep dive on how to do taxes for freelance creative professionals :) especially from how to register to how to pay taxes and more :)
Thank you for the very informative video Can you discuss in a later video on ways to avoid taxes legally to bring down the tax that an individual has to pay
How about mga youtube vloggers po like us? Need pa rin po ba natin mag-apply for tax kahit na may 12% tax deduction na ang US sa ating salary bago ibigay sa atin? Please answer po. Salamat 😊 Been watching all your videos. Very informative and inspiring!
Hello 👋🏻 yes we still need to file taxes here. What TH-cam is getting is withholding tax, we can use that as tax rebate/deduction for our income tax ☺️
@@EjoysArtSpace29 first you need to register as a professional/business with BIR and sa BIR 2303 naka lagay lahat ng need mo e file. Filing doesn’t mean paying, filing just means declaring. Depending on what structure you get (Graduated tax table/8% tax), you will file quarterly but you’ll only pay either quarterly or once a year, respectively.
Thank you for the video. I've been watching your videos for the past few months and I really love your content. Just curious, if the same pa din ba ang process if employed kung ang status mo sa BIR ay S1 or Single with 1 dependent na no need to pay tax if mag fa file as professional working from home.
I am planning to put up a local BPO office in our town, a 3rd class municipality in the province. The services to be offered are the following: 1. SEO 2. Inbound and Outbound calls (call center office) 3. Data entry 4. Web design 5. Video editing 6. General VA services. At present kasi, VA kami ni husband at my 2 kaming assistant. Hindi masyadong helpful ang BIR nung ng inquire kami kasi nga yung client namin ay nasa US. Kaya sabi ko, mag tatayo nalang kami ng parang BPO. Can I register it in a sole proprietorship? And what should be the classification if it in DTI? thanks in advance for the input.
Really was looking for this because the PSE and Colfinancial were looking for a pin number from the BIR specifically the 1904 forum. Thanks for making this video it really helps my understanding of this. But can you also explain a little bit about the 1904 forum.
Hi Charms, can you make a vlog about tax residency certificate (trc)? I know you're very familiar with it. Just want to know more of it from you. Thank you.
Very informative thank you May i ask po, if we have tips po para sa employees and used Official receipt nung nareceived nmin tips from customers. Do we need po to include the total tip amount in reporting sa BIR form 2551Q kasi nasa OR sia? Thank you po in advance sa sasagot
Hi. Can you do rental income taxes? We have a house being rented just this month. Still confused about the rental income tax and if there are deductibles like maintenance costs? Thanks
Just want to add that if you're availing the itemized deduction (ID), you'll be required to submit financial statements (if income exceeds 3M it needs to be audited). Hassle sya, you might end up spending more so if gusto mo simple lang, OSD ka na. You don't need to substantiate with OR and FS 😂 Refer to RMC 50-2018
Hire tax expert accountant because if you dont, then you might be slapped with hell of a penalty if that accountant is not doing the right thing. Just a tip, hire a CPA because in case he/she messed with your tax returns or he/she is filing wrongfully, then he might get her/his license revoked.
Hello po! Thank you so much for this video. Very informative po especially for first time tax payers like me. I would like to ask po sana kung when yung specific date nung deadline for Percentage Tax? Thank you po.
Hi, Charmaine! This is super helpful. But what happens if I was employed full time until end of May 2020, didn't get a job again until July 2020, and my new job is a freelancer + I started my own small business? How different is filing going to be? Aaaaaaa this is so overwhelming
I am trying to set up professional mode from Facebook and they are asking for a vat GST registration number. How can I get the vat gst registration number?
Hi po ma'am. Please help me po. I only had 1 employer po for calendar year 2020. I resigned from that company on November 19, 2020 po. So I was under impression that I qualified for substituted filing. Sadly when I emailed them previously, they responded that I am not included on their list for qualified substituted filing. I am now worrying and don't know what is the best next step to do. I am afraid that I have to pay for any penalty. Based on my understanding, if you only have 1 employer within a calendar year, your employer should be responsible in filing the tax. Does my resignation affected that rule?
I am a brgy new secretary and I want to know about tax code in brgy since we are collecting some amount from the brgy clearance and from brgy. business clearances w/c I know that taxes from these should also be remitted. can you please show me at least even in these your channel how or forms needed to do it.your concern will be much appreciated for these thank you so much.
Hi Charm, i just saw your video and i find it helpful as i'm just starting as a "self-employed/contractual" so i'm a bit lost on how to file my tax as it's now May and as i know i should have filed it on April. Paano pag ganun? can i still file it by May or June? Will i incur penalties? Hope you can answer my questions :) Thank you!
If mixed income (employed/sole proprietor) need din po ba mag file ng income tax quarterly (form 1701q) or percentage tax lang? Then yearly na yung income tax?
Question. Is Graduated income tax applicable to professionals (ie. doctors, architects, lawyers etc...) BTW Im filing for professional tax. I got lost in that part. Thank you!
I have a question. Why did the real estate investors in the philippines only paid 1 to 2 percent taxes from their revenue while the normal filipino workers paid almost 32 percent?
Hoping you would mention if foreigners who are permanent tourist (and some foreigners married to Filipinas) who work online are required to get a TIN and paying quarterly taxes. Most if these people teach English online or earn with TH-cam or both. I don’t earn any (retired) but I’ve seen both types on TH-cam, some pay BIR, some say they don’t have to pay. I’m just curious. Can you enlighten us please?
I also talked about this here : th-cam.com/video/tQulJ0I_p6o/w-d-xo.html If you’re receiving income from Philippine companies then yes, you do. If you’re a foreigner earning from foreign employment, you don’t need to, actually.
Napaka superb ng content niyo po, keep it up po. Ate what if po nag register ako before, as property specialist sa BIR, then a couple of month nag resign ako sa company na pinagbebentahan ko without sales . Do I need to go to BIR para mag report or hindi na po? baka po kace ma penalty ako. Thank you po sa sagot.
Hello po, pgpinili ko po ba yung 8%flat income tax rate at mas mababa po sa 250,000 yung gross sales ko, it means po ba na exempted na ako for both income tax and percentage tax? thank you po
Hi Charm, do you have comprehensive instruction on how to fill out the 1901 BIR form - especially for freelancers who are just starting a VA business. It has a lot of section and I'm not sure if everything should be filled out before submitting it to BIR. Thanks
Thanks for this! I work in an accounting firm as a marketing and up until now tax knowledge is quite overwhelming and hard to understand. Watching your vids made the learning about tax easy.
How about full-time non-proprietary retail Filipino domestic traders and OFWs? And/Or part-time traders, those who have a day job in a Ph firm? Those who trade the markets (PSE, US, Crypto) but are not employed by a trading firm/bank, are they required to pay taxes as well, apart from the taxes automatically imputed capital gains and dividend income taxes on shares?
Im in my 4th yr of college and i'm disappointed in our school system.. Im about to enter society and i still dont know these kinds of thing which are very important in our life.. No one Taught me this.. But still you can change this.. I'm educating my self in preparation for the battle called life.. Im learning more in these kind of platform than in school.. Thank you for this content its very informative.. Keep hustle people
utut mo
Responsible tax payers and karamihan sating mga Pilipino. Sana ung mga nakaupo Hindi binubulsa kawawa ang pilipinas
Sana nga eh
You made learning about taxes less stressful and more digestible. Thank you, Charm!
im 17, planning to move out as soon as im ready, and im trying to learn taxes because i know im gonna come across a lot of those when im finally legally independent.
Any updates?
Galing mo mag turo, im so much more confident in filing my taxes myself because of your vids! Thank you so much po. ☺️
Salamat sa inyong video ate. I might be a bit young to worry about taxes and all this adulting stuff, pero I'm relieved that there's content like this that I can turn to when "responsible adulting time" comes one day. Thank you again! 💕💖
Quite overwhelming for someone who hasn't really did a deep dive into taxes and all, but I really love that this video exists 😁
Keep it up, Charm! ✌️
❣️❣️❣️
Been waiting for this kind of content! Thank you, Charm!
I’m already 30 years old, and it’s sad that I’m just starting to understand handling my taxes 😢 Thanks Charm
Na refresh akong nakat unan sa Taxation pag college. Thank you! 😄
Ms. Charm, alam nyo bang January ko pa pinapaulit ulit tong video na to at isa tong video na to sa dahilan kung bakit ko naintindihan ang taxes na yan. Thank you so much, very very nice video!
Wow grabeee absorb mani sa mind dayun. Nalupigan among instructor magpa explain thankks
taking income tax subject atm and sana this was how the subject was introduced. thanks ms. charm!!!!
I really like how you presented this video. No BS, just a clear and precise explanation of the topic. I hope your channel grows.
I appreciate that!
Notes:
Check out Taxumo now: txmo.co/ready2adult
10% Discount Code: ready2adultph
Withholding Tax (More on this in a future video)
- You can use this to reduce the amount you pay in your income tax
, like a GC you receive from your clients to pay for income tax. Money is not gone when you pay withholding tax.
**How to avail of 8% income tax rate option ► www2.deloitte.com/content/dam/Deloitte/ph/Documents/tax/ph-tax-in-a-dot-june2018.pdf
*Optional Standard Deduction not Optimize, sorry haha
Thank you for this!
Thank you! 🙏🏻
@@CharmdeLeon Hi, I have a question Miss Charm! :) I was checking out my Form 2303 earlier and saw a note saying "If qualified and opted to avail of the 8% income tax rate, the filing of quarterly percentage tax return is not required for the current taxable year the option was made". I started only started working this year as a self-employed English tutor and chose the 8% tax rate. Does this mean that I don't have to file for quarterly income tax returns this year?
@@welpinax9084 you don’t have to file for quarterly 3% PERCENTAGE TAX (business tax) but you would still have to file for quarterly ITR (income tax) 😊
thank you for letting me understand how the tax works ,...
Just discovered your page and I love it already! This video was so helpful, and well put together -- by far the best video on taxes I've seen! Looove your content 💗💗💗
Ganito sana yung mga VLOG 👍🏿👍🏿
galing mo po mag paliwanag maam.. thanks po sa info.. 😊
Its amazing talent about bir taxes, & fantastic idea, thanks to your video, perhaps we can learned something.
Thank you so much for the ideas. Your content is very informative because I am planning to build a business soon. It gives me a lot of information. Thank you so much.
Magtatanong sana po ako if paano po e-calculate ang Lot tax for my business po. I want to have an idea po sana. Thank you po.
Thank you for thisss
Ma'am, please make a video about witholding Tax ☺️...
THANK YOU PO SA INFORMATION 😇
Wow, thank you Ma'am for sharing such informative video... Napakagaling mo po🥰 God Bless and more Powers😘
If only we have this kind of videos in college.
it's crazy how DepEd never taught us this kind of education pra sa acting future hahahaha
Same thoughts.
@@dericksheeesh845 that's how the government makes more money off of us.
I'm entering Adulthood already and this video is so helpful
THIS. THIS IS WHAT WE CALL CONTEEEEENT!! thank you po ate!!
Thank you for this! To be honest, for several days of finding answers to my overthought questions, your video has given me a lot of useful info! May I just ask, what if the registered business has no sales at all? From my knowledge so far, the tax it will have to pay for is the registration (which costs around 500) annually, what else should be paid within the year aside from that and how often?
How do we take advantage of the taxes from expenses while we don't have revenue yet? Thank you so much!
If your business has no sales for the current year and then you incurred expenses then that means that your profit for the year is negative or you currently operating at a loss. Meaning you have no taxes to pay. But you still need to file. This loss however can be carried over as a deduction on the next 3 succeeding years. But for losses incurred in 2020 and 2021 calendar year it can be carried over for 5 years.
OMG this is super helpful for new business owners like me! Thank you! ☺
Glad it was helpful!
hi yes please id love a video deep dive on how to do taxes for freelance creative professionals :) especially from how to register to how to pay taxes and more :)
very informative po. ❤️
but i just want to ask lang po if is there a misuse of taxes?
San po yung mga next videos? Thank you!
Adulting can really be confusing, thank you!
Welcome! 🤗🙏🏻
Great video. learned a lot. Thanks!
Its very knowledgeable ❤️❤️ thanks ate!
Thank you for the very informative video Can you discuss in a later video on ways to avoid taxes legally to bring down the tax that an individual has to pay
How about mga youtube vloggers po like us? Need pa rin po ba natin mag-apply for tax kahit na may 12% tax deduction na ang US sa ating salary bago ibigay sa atin? Please answer po. Salamat 😊
Been watching all your videos. Very informative and inspiring!
Hello 👋🏻 yes we still need to file taxes here. What TH-cam is getting is withholding tax, we can use that as tax rebate/deduction for our income tax ☺️
@@CharmdeLeon omg salamat po sa pagsagot. Last question po, ano pong type ng tax ang need ntin i-file?
@@EjoysArtSpace29 first you need to register as a professional/business with BIR and sa BIR 2303 naka lagay lahat ng need mo e file. Filing doesn’t mean paying, filing just means declaring. Depending on what structure you get (Graduated tax table/8% tax), you will file quarterly but you’ll only pay either quarterly or once a year, respectively.
Watch this as well: th-cam.com/video/tQulJ0I_p6o/w-d-xo.html
@@CharmdeLeon salamat po. Big help . Will watch the video 😊
THANK YOUUUUU PO. SOBRANG INFORMATIVE 🙂❤
Thank you for the video. I've been watching your videos for the past few months and I really love your content. Just curious, if the same pa din ba ang process if employed kung ang status mo sa BIR ay S1 or Single with 1 dependent na no need to pay tax if mag fa file as professional working from home.
Thank you so much for this!!!
Thank you so much.
I am planning to put up a local BPO office in our town, a 3rd class municipality in the province.
The services to be offered are the following:
1. SEO
2. Inbound and Outbound calls (call center office)
3. Data entry
4. Web design
5. Video editing
6. General VA services.
At present kasi, VA kami ni husband at my 2 kaming assistant. Hindi masyadong helpful ang BIR nung ng inquire kami kasi nga yung client namin ay nasa US. Kaya sabi ko, mag tatayo nalang kami ng parang BPO.
Can I register it in a sole proprietorship? And what should be the classification if it in DTI? thanks in advance for the input.
HELLO PO MS. CHARM....MAY KNOWLEDGE PO BA KAYO ABOUT HOLDING COMPANY TAXATION?
You’re so helpful. Amazing content💯
Thank you charm!
Really was looking for this because the PSE and Colfinancial were looking for a pin number from the BIR specifically the 1904 forum. Thanks for making this video it really helps my understanding of this. But can you also explain a little bit about the 1904 forum.
That’s when you apply for a TIN number when you’re still unemployed.
thank you so much for you tutorial
Hi Maam, ano po tamang kunin na tax type kapag online seller na vlogger?
Ms. Charm, pwd magtanong about sa estate tax?
So basically kung susundin lahat yan ng mga negosyo, maliit lang kikitain ng lahat kahit ung big businesses. Kaya dumidiskarte ang iba talaga
you’re the best, Charm! thank you 💛💚
🤗🤗🤗
Hello, who is applicable to file 2304? Do associate dentist can include to in to his ITR? thank you
Hi Charms, can you make a vlog about tax residency certificate (trc)? I know you're very familiar with it. Just want to know more of it from you. Thank you.
Ano po ba ung tinatawag na TAX RELIEF & TAX ALLOWANCES sa Pilipinas?
Hi, possible ba explain niyo din po checking account and if it is wise? Thank you
Do you any video on how to pay taxes in the Philippines regarding international stock? what BIR forms to get?
Very informative thank you
May i ask po, if we have tips po para sa employees and used Official receipt nung nareceived nmin tips from customers. Do we need po to include the total tip amount in reporting sa BIR form 2551Q kasi nasa OR sia? Thank you po in advance sa sasagot
thankyou po sa information nato.. may tanong lang po ako... pag may isa kalang na pinapasweldo, taxable naba sya.. need paba payslip po nun?
This video is really helpful!
Super helpful content!! Would love to learn more about taxes for non-licensed professionals / freelancers like myself. Thanks, Charm!
salamat sa content na ito ma'am charm! 🧡💯
This is very helpful, thanks!
Hi. Can you do rental income taxes? We have a house being rented just this month. Still confused about the rental income tax and if there are deductibles like maintenance costs? Thanks
Thank you for sharing at payment
Can you please explain how the taxes work if I bring money in from Australia to the Philippines on a monthly basis?
I love your video, its really informative
Just want to add that if you're availing the itemized deduction (ID), you'll be required to submit financial statements (if income exceeds 3M it needs to be audited). Hassle sya, you might end up spending more so if gusto mo simple lang, OSD ka na. You don't need to substantiate with OR and FS 😂
Refer to RMC 50-2018
yey! Finally!! Thanks Charm! ❤
🤗☺️
hello maam,just want to ask what type tax to file for 2doors appartments.thanks sa pag sagot
Hello Miss Charm! May I ask if it’s really recommended to hire an accountant for my taxes, etc? Thank you!
It depends with you. But personally, sulit mag hire ng bookkeeper
Hire tax expert accountant because if you dont, then you might be slapped with hell of a penalty if that accountant is not doing the right thing. Just a tip, hire a CPA because in case he/she messed with your tax returns or he/she is filing wrongfully, then he might get her/his license revoked.
Hello po! Thank you so much for this video. Very informative po especially for first time tax payers like me. I would like to ask po sana kung when yung specific date nung deadline for Percentage Tax? Thank you po.
Hi, Charmaine! This is super helpful. But what happens if I was employed full time until end of May 2020, didn't get a job again until July 2020, and my new job is a freelancer + I started my own small business? How different is filing going to be? Aaaaaaa this is so overwhelming
You’d have to register as a professional now with the BIR. Get a BIR registration (BIR 2303) and you can file from there ☺️
I am trying to set up professional mode from Facebook and they are asking for a vat GST registration number. How can I get the vat gst registration number?
Hi Mam , ask lang po if sa iba collection receipt and Sales Invoice ok lang po ba yun? walang magiging concern sa tax? thank you
hello! I love your video super helpful! and yes I agree to have a video of filing for professionals, especially that I'm a freelancer! :)
Made one for ITR here: th-cam.com/video/tQulJ0I_p6o/w-d-xo.html
@@CharmdeLeon thank you! I'm wondering how I can reach out to you to ask questions about my situation, if that's okay? :)
@@zieva182 instagram! @ready2adultph
How can I know if I will file annually or quarterly ITR?freelance only.
Hi po ma'am. Please help me po. I only had 1 employer po for calendar year 2020. I resigned from that company on November 19, 2020 po. So I was under impression that I qualified for substituted filing. Sadly when I emailed them previously, they responded that I am not included on their list for qualified substituted filing. I am now worrying and don't know what is the best next step to do. I am afraid that I have to pay for any penalty. Based on my understanding, if you only have 1 employer within a calendar year, your employer should be responsible in filing the tax. Does my resignation affected that rule?
I am a brgy new secretary and I want to know about tax code in brgy since we are collecting some amount from the brgy clearance and from brgy. business clearances w/c I know that taxes from these should also be remitted. can you please show me at least even in these your channel how or forms needed to do it.your concern will be much appreciated for these thank you so much.
Hi Charm, i just saw your video and i find it helpful as i'm just starting as a "self-employed/contractual" so i'm a bit lost on how to file my tax as it's now May and as i know i should have filed it on April. Paano pag ganun? can i still file it by May or June? Will i incur penalties? Hope you can answer my questions :) Thank you!
Yes you cann. Meron but small pa. The more you wait, it might be bigger na
If mixed income (employed/sole proprietor) need din po ba mag file ng income tax quarterly (form 1701q) or percentage tax lang? Then yearly na yung income tax?
May patterns of taxation po ba kayo?
Thank you ate charm
Im here because some of my relatives actively avoid taxes and Im here because I dont want to end up like them
I suggest to listen Robert Kiyosaki
If there is a way, why pay higher taxes???
Great! Need more videos. I already subscribed.
thank you mam
Thank you Charm for this very informative video! ❤👏👏 Must needed info for business and professionals. 🙏
❣️❣️❣️
Question.
Is Graduated income tax applicable to professionals (ie. doctors, architects, lawyers etc...)
BTW Im filing for professional tax.
I got lost in that part. Thank you!
I have a question. Why did the real estate investors in the philippines only paid 1 to 2 percent taxes from their revenue while the normal filipino workers paid almost 32 percent?
ano po ba ilalagay sa general journal na ipapasa sa BIR?
Hoping you would mention if foreigners who are permanent tourist (and some foreigners married to Filipinas) who work online are required to get a TIN and paying quarterly taxes. Most if these people teach English online or earn with TH-cam or both. I don’t earn any (retired) but I’ve seen both types on TH-cam, some pay BIR, some say they don’t have to pay. I’m just curious. Can you enlighten us please?
I also talked about this here : th-cam.com/video/tQulJ0I_p6o/w-d-xo.html
If you’re receiving income from Philippine companies then yes, you do. If you’re a foreigner earning from foreign employment, you don’t need to, actually.
Napaka superb ng content niyo po, keep it up po. Ate what if po nag register ako before, as property specialist sa BIR, then a couple of month nag resign ako sa company na pinagbebentahan ko without sales . Do I need to go to BIR para mag report or hindi na po? baka po kace ma penalty ako. Thank you po sa sagot.
You need to file pero wala kang taxes babayaran
Thank you ma'am.
Hello po, pgpinili ko po ba yung 8%flat income tax rate at mas mababa po sa 250,000 yung gross sales ko, it means po ba na exempted na ako for both income tax and percentage tax? thank you po
Hi Charm, do you have comprehensive instruction on how to fill out the 1901 BIR form - especially for freelancers who are just starting a VA business. It has a lot of section and I'm not sure if everything should be filled out before submitting it to BIR. Thanks
thank you, charm! 😁
Thanks for this! I work in an accounting firm as a marketing and up until now tax knowledge is quite overwhelming and hard to understand. Watching your vids made the learning about tax easy.
Kelan po kaya mapapasa ang 2nd round of decrease in income tax?
Yesss finally ♥️
How about full-time non-proprietary retail Filipino domestic traders and OFWs? And/Or part-time traders, those who have a day job in a Ph firm? Those who trade the markets (PSE, US, Crypto) but are not employed by a trading firm/bank, are they required to pay taxes as well, apart from the taxes automatically imputed capital gains and dividend income taxes on shares?