Accountants\finance\auditors Etc.

[Obese_F]

just to confirm:

 

is it true that as an individual taxpayer, i can use yung mga receipts ng mga purchases ko na taxable para mapababa ang tax ko every year?

[Obese_F]

^^^ thanks!

[kerrmit]

just to confirm:

 

is it true that as an individual taxpayer, i can use yung mga receipts ng mga purchases ko na taxable para mapababa ang tax ko every year?

 

that depends on the source of your income...

 

if you are running a business of your own, then these receipts will come in handy. but of course, these receipts should be related to your business. if you have a sari-sari store, for instance, your receipts for trhe goods sold in your store are definitely necessary to prove your purchases account. your gasoline receipts are also necessary if you want to claim transportation expenses for your goods.

 

but if you are a salaried employee, then those receipts will not do anything to help. your taxes have already been withheld and your tax range depends on whether you're single, head of the family or married.... i also remember something about certain specific expenses being deductible from an individual taxpayer (medical expenses yata) but up to a certain limit only (i think up to P1,200 per year?) so it's not that helpful really.

[kerrmit]

how about myob? seems to work fine for my businesses.

 

good for you. MYOB is also another off-the-shelf package and it works for some businesses that aren't too complicated. in my experience though, even relatively simple businesses eventually grow and become more complex as time goes and MYOB isn't able to handle these changes well.

 

if you are using MYOB, able to maximize it without having to refer to another spreadsheet (manual or electronic) then you've got a good match already. you're luckier than most businesses i know.. :thumbsupsmiley:

 

but if you're using MYOB and still, you keep referring to your spreadsheets and using other systems to keep up with the accounting requirements of your business, then you might consider looking for a customized software for your needs.

:mtc:

[veamucho]

that depends on the source of your income...

 

if you are running a business of your own, then these receipts will come in handy. but of course, these receipts should be related to your business. if you have a sari-sari store, for instance, your receipts for trhe goods sold in your store are definitely necessary to prove your purchases account. your gasoline receipts are also necessary if you want to claim transportation expenses for your goods.

 

but if you are a salaried employee, then those receipts will not do anything to help. your taxes have already been withheld and your tax range depends on whether you're single, head of the family or married.... i also remember something about certain specific expenses being deductible from an individual taxpayer (medical expenses yata) but up to a certain limit only (i think up to P1,200 per year?) so it's not that helpful really.

 

 

health insurance premiums...yata yung 1,200.

[kerrmit]

i guess that's it..

[redax]

We have a business which is not doing good and would like to consult with a financial and development consultant. What we have is prime property which could be developed into a subdivision if the technical analysis determines that the current use for which we are devoting the property is not viable anymore. Can anyone give options on what firms provide this service? Thanks.

[manabs]

Anyone know how to get a CMA or CGA designation here in the Phils?

[aff1979]

good for you. MYOB is also another off-the-shelf package and it works for some businesses that aren't too complicated. in my experience though, even relatively simple businesses eventually grow and become more complex as time goes and MYOB isn't able to handle these changes well.

 

if you are using MYOB, able to maximize it without having to refer to another spreadsheet (manual or electronic) then you've got a good match already. you're luckier than most businesses i know.. :thumbsupsmiley:

 

but if you're using MYOB and still, you keep referring to your spreadsheets and using other systems to keep up with the accounting requirements of your business, then you might consider looking for a customized software for your needs.

:mtc:

 

ok lng gumamit ng off the shelf n accounting software provided ok ung pag set up ng mga account names, ledger at sub ledger, reports, at summaries, para maximize u ung system n nabili u. Karaniwan nman ng of the shelf system flexible eh basta alam u gamitin to.

 

maganda hingi k ng advice s accountant n gumagamit ng system n un, para m pattern nya ung system n gagamitin u s requirement u s negosyo mo.

[willow_boy]

We have a business which is not doing good and would like to consult with a financial and development consultant. What we have is prime property which could be developed into a subdivision if the technical analysis determines that the current use for which we are devoting the property is not viable anymore. Can anyone give options on what firms provide this service? Thanks.

 

Depending on the size of the property, reputable CPA firms such as SGV & Co. provide this service.

[redax]

Do they provide consultancy for options on what to do with the property? I'm pretty sure the property is not viable for what it is being used for anymore because its net return on value of the property is less than 1% annually so I would need more information on what to do with it. Its a pretty substantial property.

[jackbrng]

REESE,

 

It takes 2 to tango. There will be no corrupt person if one doesn't allow it to happen. Kung walang magsusuhol, walang masusuhol. Sadly, Phil. is among the top ten corrupt countries in Asia and 11th, I think, in the world. Sad but this is a fact. Question lang is, can we be able to get over this and move on to a better situation?

 

Peace...........

 

actually dito sa pilipinas, intentional ang corruption. mapipilitan kang magsuhol dahil pinapahirapan nila ang sistema. so ikaw, gusto mong mapabilis, kailangan magpadulas kasi mas mabilis kasi mararating ang paroroonan kung dudulas ka imbes na maglakad, hehehe

 

I think, yung corruption, mahirap ng sugpuin yan, kahit yung ipapasang anti-red tape law, di kayang pigilan ang corruption dito, kasi sa dami ng factors na very existing dito sa pilipinas

[willow_boy]

Do they provide consultancy for options on what to do with the property? I'm pretty sure the property is not viable for what it is being used for anymore because its net return on value of the property is less than 1% annually so I would need more information on what to do with it. Its a pretty substantial property.

 

Depending on the scope of work, they do provide options, along with financial projections under each option.

[redax]

Thanks for information.

[Reese]

actually dito sa pilipinas, intentional ang corruption. mapipilitan kang magsuhol dahil pinapahirapan nila ang sistema. so ikaw, gusto mong mapabilis, kailangan magpadulas kasi mas mabilis kasi mararating ang paroroonan kung dudulas ka imbes na maglakad, hehehe

 

I think, yung corruption, mahirap ng sugpuin yan, kahit yung ipapasang anti-red tape law, di kayang pigilan ang corruption dito, kasi sa dami ng factors na very existing dito sa pilipinas

 

hey!

 

i didn't think anyone noticed my comment there.

 

as with the other countries that are corrupt, yes johncastle, it takes two to tango. kung alang papatol, alang mag-aalok.

 

to disagree with jackbrng, i don't think people really intend to go corrupt on doing any business. it a matter of need.

 

that's why i am happy with what i do now, i get to stick with the ideals i have learned from school

 

:evil: