If you’re considering venturing into the world of online selling as an independent business owner, you may have encountered the term “sole proprietorship.” This term isn’t commonly used in everyday conversation, even among business owners or sole proprietors themselves. So, let us simplify the concept and explain how you can apply for it. Who…
Many Filipinos start working as a freelancer on top of their full-time careers. But if you think you’re ready to begin your journey towards running your own legal freelance business, this guide is for you. Registering yourself as a sole proprietor legitimizes you as a full-fledged business that abides by government regulations and compliance requirements.…
Are you thinking of starting your online selling business in the Philippines this 2024? With the new Revenue Regulations No. 16-2023 in effect, it’s important to understand the updated process. Here’s a simple guide to help you register your online business and comply with the latest regulations: Determine Your Business Structure: Decide on the legal…
Being a solopreneur or freelancer means a never-ending to-do list. In addition to your core work, you also need to manage marketing, customer care, and, of course, accounting. Accounting is a critical aspect of freelancing and online selling as it involves cash flow management, maintaining financial records, tax compliance, and ensuring timely payments. Proper accounting…
Starting a business can be an exciting venture, right? But when it comes to daily operations and financial management, the excitement can quickly fade. It’s not sufficient to be passionate about your business; you need to know whether you’re turning a profit or facing losses. This knowledge is crucial to the long-term success of your…
Our country’s tax system continually evolves as the government seeks to simplify, enhance fairness, and increase efficiency. To this end, the government introduced the Tax Reform for Acceleration and Inclusion (TRAIN) Law, which includes the concept of Expanded Withholding Tax (EWT). Only some people are obligated to report and pay EWT. However, if you are…