Being a self-employed individual/professional or a solopreneur means that you are not covered by an employer for your Social Security System (SSS), Home Development Mutual Fund (Pag-IBIG), and Philippine Health Insurance Corporation (PhilHealth) contributions. For individuals who have transitioned from employment where these contributions were automatically deducted from their salary, it is advisable to continue…
You might be curious about why you need barangay clearance to start a business. It’s just one of those necessary steps for anyone starting a business. You can easily get your Barangay Business Clearance at the Barangay Hall in the city where you live or plan to do business. What do I need to…
If you’re a freelancer or self-employed, you understand the importance of capital, not just for kickstarting your business but also for sustaining and expanding it. While your initial funds may come from various sources, there could come a time when you need more substantial financial support to foster growth. Many business owners, in this situation,…
As a freelancer or online seller, there is essential information to grasp about bookkeeping, especially since the Bureau of Internal Revenue (BIR) mandates the maintenance and submission of Books of Accounts. These records document your business transactions and must be filed with the BIR within specific deadlines. This necessitates meticulous record-keeping for all sales and…
An increasing number of business owners are transitioning to digital or computerized Books of Accounts. If you aim to be part of this group, you must obtain a specific permit. This permit, known as the Books of Accounts Permit to Use (PTU), is only necessary when utilizing computerized or loose-leaf Books of Accounts. Manual, bound…
As responsible taxpayers, we want to ensure that their taxes and filed forms are submitted to the BIR on time. This is where the Payment Confirmation becomes valuable. Whenever you utilize Beppo for your tax filing and payment, a Payment Confirmation will be available inside the Beppo app under the “Tax & Payment Confirmation” section…
Transferring your RDO (Revenue District Office) in the Philippines typically involves changing your tax jurisdiction or tax residence. This process is important when you move to a different location or want to update your tax records with the tax office that corresponds to your new address. Here are the steps to transfer your RDO: …
Receiving payments from your clients should be a standard expectation, but as a freelancer or solopreneur, you are undoubtedly aware of the difficulties that can arise when trying to collect payments. At times, it’s the clients who either delay their payments or become unresponsive, or perhaps scheduling conflicts prevent you from receiving payments in person.…
Loans serve as a common avenue for freelancers and online sellers to secure capital for initiating, operating, or expanding their businesses, with banks being the traditional choice for these solopreneurs. However, it’s important to understand that banks are not necessarily the optimal or exclusive solution for obtaining additional business financing. Lending companies present an alternative…
It’s always a smart move to “officialize” your business, whether you’re working as a freelancer, an online seller, or any other endeavor. This not only safeguards your interests but also ensures your customers’ trust. To legitimize your work, obtaining a Business Permit, often referred to as a Mayor’s Permit, is essential. After securing your DTI…