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!!! 😉