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
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! 💕💖
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.
@@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?
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.
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!
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.
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 :)
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.
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.
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 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 RUclips 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.
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.
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
I, m just curious why the Philippines government used the philhealth agency to collect taxes from ofw I know it, s a little bit odd to think but since ofw don't pay income tax for the government the Philippines government divert or used philhealth as proxy by making a laws to collecting contributions according from your sallary from foreign countries and the percentage is getting higher every year... I, m sorry it, s not a part of this videos but what the government is doing is the as thier collecting income tax from the ofw individuals...
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?
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.
Please seek professional bookkeepers and accountants for your safety, I do understand that Ms. Charm is explaining the BASICs in taxation here but madami pa po dapat malaman.. karamihan kasi sa mga client ko nag uumpisa na sila sila lang, at the end saka lang sila naghahanap ng acctants and bookkeepers pag di na nila.makontrol ung situation especially bir already sending them Letter of Authorities and so many open cases...
Thank you for that input! I agree that seeking professional help is very good as well but to business owners/professionals, please take time to understand how taxes work as well since a lot get scammed into paying more than what they need to pay din 😢
@@CharmdeLeon yes i agree with that, there's a lot of bookkeepers and acctants na iniiwan client nila sa ere... Yan din sumbong sakin ng mga clients before ko sila naging client. Also, this video helps a lot of aspiring business owners and professionals na there is a need talaga to register ang business nila and pay right taxes... 😊😘
@@improvementpillph9373 I think vice versa lng din po.. kasi may mga client din na mina manipulate din nila mga accountant and bookkeepers even if they were told so to comply. Tzaka nag babase lng po tayo sa internal records ng company. Kung wala cla e disclose sa atin, malay ba natin na may dapat e comply? hirap naman kasi mag explain minsan about tax compliance and its process sa taong nagtitipid. Akala nila madali lng mag process lalo na sa BIR transactions. Naku! Sama mo pa ang pa balikbalik na transaction kasi ganito ganyan. hayss!
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.
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
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 RUclips or both. I don’t earn any (retired) but I’ve seen both types on RUclips, 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 : ruclips.net/video/tQulJ0I_p6o/видео.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.
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.
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!
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?
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
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
You made learning about taxes less stressful and more digestible. Thank you, Charm!
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! 💕💖
Responsible tax payers and karamihan sating mga Pilipino. Sana ung mga nakaupo Hindi binubulsa kawawa ang pilipinas
Sana nga eh
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! ✌️
❣️❣️❣️
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. ☺️
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!
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! 😄
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) 😊
Been waiting for this kind of content! Thank you, Charm!
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.
Wow grabeee absorb mani sa mind dayun. Nalupigan among instructor magpa explain thankks
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!
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.
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.
THIS. THIS IS WHAT WE CALL CONTEEEEENT!! thank you po ate!!
thank you for letting me understand how the tax works ,...
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.
galing mo po mag paliwanag maam.. thanks po sa info.. 😊
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???
I'm entering Adulthood already and this video is so helpful
So basically kung susundin lahat yan ng mga negosyo, maliit lang kikitain ng lahat kahit ung big businesses. Kaya dumidiskarte ang iba talaga
OMG this is super helpful for new business owners like me! Thank you! ☺
Glad it was helpful!
Its amazing talent about bir taxes, & fantastic idea, thanks to your video, perhaps we can learned something.
taking income tax subject atm and sana this was how the subject was introduced. thanks ms. charm!!!!
Ganito sana yung mga VLOG 👍🏿👍🏿
Adulting can really be confusing, thank you!
Welcome! 🤗🙏🏻
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 :)
Wow, thank you Ma'am for sharing such informative video... Napakagaling mo po🥰 God Bless and more Powers😘
THANK YOU PO SA INFORMATION 😇
you’re the best, Charm! thank you 💛💚
🤗🤗🤗
Ma'am, please make a video about witholding Tax ☺️...
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.
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.
You’re so helpful. Amazing content💯
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
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!
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
Its very knowledgeable ❤️❤️ thanks ate!
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 RUclips 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: ruclips.net/video/tQulJ0I_p6o/видео.html
@@CharmdeLeon salamat po. Big help . Will watch the video 😊
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.
Thank you so much for this!!!
Thank you so much.
Thank you charm!
Thank you for thisss
thank you so much for you tutorial
Great video. learned a lot. 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
THANK YOUUUUU PO. SOBRANG INFORMATIVE 🙂❤
yey! Finally!! Thanks Charm! ❤
🤗☺️
Super helpful content!! Would love to learn more about taxes for non-licensed professionals / freelancers like myself. Thanks, Charm!
This is very helpful, thanks!
salamat sa content na ito ma'am charm! 🧡💯
Yesss finally ♥️
I love your video, its really informative
I, m just curious why the Philippines government used the philhealth agency to collect taxes from ofw I know it, s a little bit odd to think but since ofw don't pay income tax for the government the Philippines government divert or used philhealth as proxy by making a laws to collecting contributions according from your sallary from foreign countries and the percentage is getting higher every year... I, m sorry it, s not a part of this videos but what the government is doing is the as thier collecting income tax from the ofw individuals...
NEEDED THIS
This video is really helpful!
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 ung tinatawag na TAX RELIEF & TAX ALLOWANCES sa Pilipinas?
thank you, charm! 😁
tanong ko lang po is kung anu-ano po yung naging problema sa pag implement ng tax dito sa ating bansa?
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.
Thank you ate charm
Please seek professional bookkeepers and accountants for your safety, I do understand that Ms. Charm is explaining the BASICs in taxation here but madami pa po dapat malaman.. karamihan kasi sa mga client ko nag uumpisa na sila sila lang, at the end saka lang sila naghahanap ng acctants and bookkeepers pag di na nila.makontrol ung situation especially bir already sending them Letter of Authorities and so many open cases...
Thank you for that input! I agree that seeking professional help is very good as well but to business owners/professionals, please take time to understand how taxes work as well since a lot get scammed into paying more than what they need to pay din 😢
@@CharmdeLeon yes i agree with that, there's a lot of bookkeepers and acctants na iniiwan client nila sa ere... Yan din sumbong sakin ng mga clients before ko sila naging client. Also, this video helps a lot of aspiring business owners and professionals na there is a need talaga to register ang business nila and pay right taxes... 😊😘
@@improvementpillph9373 I think vice versa lng din po.. kasi may mga client din na mina manipulate din nila mga accountant and bookkeepers even if they were told so to comply. Tzaka nag babase lng po tayo sa internal records ng company. Kung wala cla e disclose sa atin, malay ba natin na may dapat e comply? hirap naman kasi mag explain minsan about tax compliance and its process sa taong nagtitipid. Akala nila madali lng mag process lalo na sa BIR transactions. Naku! Sama mo pa ang pa balikbalik na transaction kasi ganito ganyan. hayss!
@@jennytvph2913 un ung sinasabi ko sa pinakauna kong comment.. hahahahaha ok lang yan gurl.. keep up the good work.. 😘🤗 vice versa nga.. 😁
@@improvementpillph9373 yeah! and hardwork also..
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.
Thanks for this! 💕
Can you please explain how the taxes work if I bring money in from Australia to the Philippines on a monthly basis?
Ms. Charm, pwd magtanong about sa estate tax?
Thank you Charm for this very informative video! ❤👏👏 Must needed info for business and professionals. 🙏
❣️❣️❣️
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: ruclips.net/video/tQulJ0I_p6o/видео.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
Hi, possible ba explain niyo din po checking account and if it is wise? Thank you
Thank you for sharing at payment
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 ☺️
Do you any video on how to pay taxes in the Philippines regarding international stock? what BIR forms to get?
thank you mam
Great! Need more videos. I already subscribed.
Kelan po kaya mapapasa ang 2nd round of decrease in income tax?
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 RUclips or both. I don’t earn any (retired) but I’ve seen both types on RUclips, 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 : ruclips.net/video/tQulJ0I_p6o/видео.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.
Thank you. Waiting for your next video. 😚
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.
who can be the object of taxation?
Hi Maam, ano po tamang kunin na tax type kapag online seller na vlogger?
thankyou po sa information nato.. may tanong lang po ako... pag may isa kalang na pinapasweldo, taxable naba sya.. need paba payslip po nun?
ano po ba ilalagay sa general journal na ipapasa sa BIR?
May patterns of taxation po ba kayo?
thank you charm
Why did I drop out of Taxation during college? 🤣🤣🤣🤣. Thank you for unpacking that.
thanks!
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
Wanting more information on visa for foreigners
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?
HELLO PO MS. CHARM....MAY KNOWLEDGE PO BA KAYO ABOUT HOLDING COMPANY TAXATION?
Matanong kulang si mama ko government employees and she’s retired only she received is GSCIS. What about the tax?
beauty and brains
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
Hello, who is applicable to file 2304? Do associate dentist can include to in to his ITR? thank you