Tax Estimation: Old vs. New Every year, when tax time comes, people look for a ‘tax calculator’ to quickly find out what they might owe or get back. But there’s a newer, smarter way to do it called tax projection. Before you look for the usual tax calculator, check out this new way to estimate…
Venturing into self-employment in the Philippines? Then you’ve likely come across the BIR. Let’s unravel the mystery! Introduction to BIR Registration The Bureau of Internal Revenue (BIR) is the primary government agency tasked with tax collection in the Philippines. For self-employed folks, BIR registration is a pivotal step to legitimize their operations. Why is BIR…
Maintaining accurate financial records is crucial for sustainable growth and success in the fast-paced business world. Bookkeeping is pivotal in providing businesses and self-employed professionals with the relevant insights to make informed decisions. In this comprehensive guide, we will explore who needs bookkeeping, its importance, and how much it should cost. Who Needs Bookkeeping? Bookkeeping…
In the fast-paced world of freelancing, one might easily get lost in the hustle and creativity and neglect an equally important aspect: personal finance management. This aspect, unfortunately, often becomes the Achilles’ heel for many creative freelancers in the Philippines. Proper budgeting and smart financial strategies aren’t just crucial for surviving the uncertain terrain of…
In the Philippines where there is high internet penetration, embracing digital marketing strategies can significantly boost your business prospects and open up new opportunities for success. Whether you offer graphic design services, content writing, or web development, incorporating digital marketing techniques into your freelance business can give you a competitive edge and help you thrive…
As a student, you’ve likely heard the term “freelancing” tossed around, but what does it truly mean? Freelancing is a type of self-employment wherein you offer your skills or services to clients on a per-project basis. Unlike traditional employment, where you’re bound to a single employer and work according to a fixed schedule, freelancing allows…
Understanding and managing your finances is pivotal to your freelance career’s success. Without a dedicated accounting department, it falls on your shoulders to track your income, handle your expenses, and meet your tax obligations. But don’t let this intimidate you. In this article, you’ll learn about the importance of freelancer accounting, financial planning for self-employed…
As a freelancer, you know that negotiating contracts is a crucial part of your business. These contracts protect your rights as a service provider and establish a solid foundation for the working relationship with your clients. However, the negotiation process can often seem daunting, especially if you just started freelancing. With the right information and…
In today’s gig economy, financial stability can sometimes seem elusive. Irregular income streams and lacking traditional employment benefits necessitate a savvy financial management approach. In this context, understanding two fundamental financial concepts–saving and investing–is critical. Both saving and investing are cornerstones of sound financial management, but they serve different purposes and are influenced by other…
The freedom to choose your clients, determine your hours, and truly own your work can be an exhilarating experience. But with freelancing comes the often complex, sometimes daunting task of managing your finances. Suddenly, you’re not only your own boss, but also your own accountant, tasked with keeping track of who owes you what, when,…