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2018 Project 365, Day 317: 3rd Quarter 1701Q

Photo #317: November 13

Third quarter 1701Q: filed and paid. For RareJob tutors: June + July + August gross tutor fees, received in July, August, and September respectively. If this is your 2nd time to pay taxes this year, make sure to also fill out box numbers 56 & 57. Deadline: November 15. #taxtales

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2018 Project 365 Day 221: 2nd Quarter 1701Q

Photo #221: August 9

Filed my 1701Q for the second quarter – that’s 6 days before the deadline (August 15). I am posting this mainly to help specific individuals: fellow RareJob tutors whose sole source of income is from teaching online and whose earnings this year already exceeded P250,000. However, this could probably apply to other self-employed professionals, too. If you’re still unsure, please, please ask your RDO.

1) If you feel/know that your income is already over P250,000, request for your 2307 from tutor support via email. The 2307 we have on the tutor site is not yet updated due to the tax changes under the TRAIN law.

2) Open the eBIRForms app (version 7.1). After filling out the necessary info on the home page, choose BIR Form 1701Qv2018 Quarterly Income Tax Return for Individuals, Estates, and Trusts (NEW) from the drop-down menu.

3) On page 1, choose 11017 Income from Profession – 8% Rate. Once you do, the second option in box 16 Tax Rate will be automatically ticked: 8% on gross sales/receipts

4) On page 2, under Schedule II – For IT 8% Rate, input your gross sales for the 2nd quarter (47A). For RareJob tutors whose sole income is from RJ, this is the sum of our March, April, and May 2018 tutor fees, which we received in April, May, and June respectively.

5) In box 50, input your first quarter sales (box 51 in your Q1 1701Q form). Then in box 52A, input 250, 000 (allowable reduction). Lastly, in box 58A, input the tax withheld reflected on your 2307.

6) Validate the form and submit it. If you have to pay anything, print the form in triplicate, and visit any of your RDO’s accredited banks.

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2018 Project 365, Day 130: 1701Q!

Completed another adulting task today: filing my 1701Q for the 1st quarter of 2018! Because of the tax developments due to the TRAIN law, filing is a bit different this year. Here’s a guide for those of you who are like me, a registered self-employed professional, and provided you submitted the necessary requirements to avail of the lower withholding tax rate. The information is based on my RDO, 045 – thanks to Tutor NikkiB for clarifying! 🙂

  1. Download the latest version of the EBIR Package HERE. (7.1)
  2. Fill out the necessary information such as your name, TIN, business, etc.
  3. Click the drop-down menu for the list of forms and choose BIR Form 1701Qv2018 Quarterly Income Tax Return for Individuals, Estates, and Trusts (NEW).
  4. On page 1, choose 11017 Income from Profession – 8% Rate. Once you do, the second option in box 16 Tax Rate will be automatically ticked: 8% on gross sales/receipts… 
  5. On page 2, under Schedule II – For IT 8% Rate, input your gross income for the first quarter (47A). For RareJob tutors (sole income is from RJ), this is the sum of our December 2017, January 2018, and February 2018 tutor fees, which we received in January, February, and March respectively. Then in box 52A, input 250, 000 (allowable reduction).
  6. Click validate to check if you have completed the form, submit, and that’s it! Make sure to do this by May 15!!! 😉

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2018 Project 365, Day 93: RareJob Visit

Photo #93: April 3

Got to visit the RareJob, Inc. office to submit some BIR requirements related to the reduced tax thingy. As a bonus, we got to chat with some of our favorite RJ peeps, including our ikemen CEO!

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2017 Project 365, Day 136: Amended 2551M

Photo #136: May 16

Finally clarified what should be done when there is underpaid tax in an amended 2551M! I tried paying it last Friday, but both banks I visited said I must go to my RDO first. Anyway, you should bring 3 copies of your amended form/s to the officer of the day. He will compute the interest earned, stamp the forms, and sign them. That’s it! Well, of course, I had to go to the bank again to finally pay the balance with interest. As for amended 2551Ms that are overpaid, just keep copies for yourself as well as their corresponding confirmation emails – no need to have them received by your RDO. Ang habol lang naman ng BIR is pag may kulang kang bayad eh hahaha =p So here’s my updated blog post about 2551M amendments.

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