The Accounting Checklist

When you are in business for yourself, you normally would get so busy with the operational aspects of your company. Very often, in fact, some entrepreneurs tend to focus too ...

How Much to Pay Yourself?

Q: How should a business owner compute the monthly compensation that he will set aside for himself from the earnings of his business, especially if the business is still in ...

Take Control of Your Inventory

Many entrepreneurs tend to overbuy inventory to take advantage of quantity discounts especially if the merchandise is imported abroad, or when they project their sales targets too high for a ...

How to Compute for VAT

Q: How do I compute the VAT? A: The Value Added Tax is computed by getting the difference of the output tax and input tax. If you are the seller, ...

5 Ways to Prepare for Income Tax Filing

Q: My startup business has just started operations last year and I will be filing my income tax this April. What are the things that I should prepare for so ...

Get Into a Business or Pay off My Debts?

Question: I am a full time employee with a leisure resort company and I am thinking of investing in a franchise as sideline business. My friend told me that the ...

Look Before You Leap

Q: I want to supply ready-to-eat meals at convenience stores. Right now, I supply to school cafeterias. But I feel I can earn more if I supply to convenience stores ...

5 Tips To Get Your Clients To Pay In Cash

Cash flow is the lifeblood of any business—the cash that goes in and out of your company determines your financial position. In particular, managing how your cash flows in and ...

What is Value Added Tax?

Q: I have a retail startup that I plan to incorporate and register with the Bureau of Internal Revenue (BIR). My friend advised me that once my business is registered, ...

What are the allowed deductible expenses in ITR?

Q: It is tax season once again and I am preparing to file for income tax this week. I understand that one way to lower income payments is by increasing ...