Welcome to the Articles section.
This page contains practical insights, lessons learned, and real-world discussions on accounting, taxation, financial management, and business compliance in the Philippines.
The articles shared here are based on actual experiences, common business situations, and observations from practice, with the goal of making complex topics easier to understand and apply.
Whether you’re a business owner, student, freelancer, bookkeeper, or finance professional, you’ll find useful ideas, perspectives, and discussions that can help you better understand the business side of accounting and compliance.
1. Sole Proprietors & Professionals (Non-Incorporated) Primary ITR Form BIR Form 1701 / 1701A Key Accounting Basis CPA Tip: Many sole proprietors use the wrong form, resulting in incorrect tax computation. 2. Professionals Using the 8% Income Tax Rate Applicable Form BIR Form 1701A Common Mistake: Using 8% but still deducting expenses—this is disallowed. 3….
Introduction Based on my experience as an Accounting Manager and a CPA in public practice, Income Tax Return (ITR) preparation becomes stressful for many SMEs and sole proprietors not because the rules are complex, but because accounting records are often prepared late or left incomplete. In real-world practice, a properly prepared ITR does not begin…
In the business lifecycle, recurring accounting and taxation events are critical for compliance and financial health. Here’s a summary of key recurring events: 1. Daily/Weekly Events 2. Monthly Events 3. Quarterly Events 4. Annual Events 5. Occasional Events
Upon the Effectivity of these Revenue Regulations. INVOICE will be the primary documents for both Trading and Service type of businesses. As Illustrated above: 1.) There’s no effect on Trading businesses on the invoicing requirements. Sales Invoice as primary documents and collection receipt as secondary documents. 2.) On Service businesses, Official Receipts are no longer…