Category Archives: Income Tax

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 … Continue reading →

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 … Continue reading →