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.
Here’s a continuation of my tax experience as a self-employed professional: percentage tax filing. Well, I attempted to do it hehehe! Practice! I plan to complete this, including the payment, before the deadline, which is on the 20th of every month. From what I read, it’s usually 3% of a tax payer’s gross monthly income, but it can reach as much as 30%. Bummer. Anyway, I am motivated more than ever to work harder and manage my finances better. Adulting is hard, but I’ll live. 😀
Photo #31: January 31
And I’m done! I’m officially registered as a self-employed professional, which means I need to pay the monthly percentage tax starting this February, which is 3% of whatever I will have earned this January. I’m kind of annoyed knowing I already have 10% withholding tax every month, but hey, it’s for the country’s future, right? RIGHT???!!! Hahahaha =p I’m working on a full blog entry about my experience! Watch out for it! 😀
Photo #19: January 19
Can’t believe I spent almost 5 hours of travel time just to get this stamp, which took only 5 minutes to complete at my old revenue district office (RDO). What I thought was #41 turned out to be 43A! However, the real nightmare was (is and will forever be) Manila’s traffic! Ugh! I’m even more thankful that I have a home-based job! Anyway, my “real” BIR errand will begin next week, this time at my new RDO – Marikina!
p.s. a special thank you to my bestie Ulrike for all the tips and help! Love you, girl!!! :-*