Accountaholicsph.com

Navigating Complexities of Employee Termination in the PH

WebThe justification for termination varies based on the type of contract: Trial Periods: Stopping the contract is possible with valid reasons. Admissible reasons include …

Actived: 7 days ago

URL: https://accountaholicsph.com/navigating-complexities-of-employee-termination-in-the-ph/

Unlocking the Secrets of Fringe Benefits Tax

WebTo find this value, take the actual amount of the benefit granted and divide it by 65% (subject to the 35% FBT rate) or divide it by 75% (subject to the 25% FBT rate), …

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Strategies for PH Startups: Navigating the Tax Landscape

WebNavigate the financial landscape of startups with tax strategies. From choosing structures to employee benefits, optimize tax planning with expert accounting

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How to Secure your Company's Financial Health in 6 Easy Steps

WebYou need to learn two important things to run a business effectively: Cash Flow and Profitability.Businesses need to properly manage cash flow as it determines the …

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Requirements for Foreign Corps Before Operating in the PH 2022

WebTo find out the full list of processes and requirements that foreign corporations need to comply with before doing business in the Philippines, read on. 1. …

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What are the Mechanics of Taxation on Separation Pay

WebThis separation pay, if due to death, physical disability, sickness, or causes due to reasons beyond the employee’s control, is tax-exempt. However, tax exemptions …

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What You Need to Know about the Accounting Cycle

WebThe 8-step accounting cycle is a vital process that must be applied to all businesses as it allows you to track your financial situation, make sound business …

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Books of Accounts: What you need to know, and all

WebBelow is the list of books of accounts that are the minimum requirement for any business entity, may it be sole-proprietorship, corporation, partnership, or …

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The Power of Purpose: A Guide for PH Non-Profit Organizations

WebIn the realm of non-profit organizations in the Philippines, registration is not merely a bureaucratic process—it’s a voyage toward making a meaningful difference. …

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3 Tax Deductible Expenses with Limits in the Philippines

WebIn other words, while you can deduct interest expenses, there are limitations aimed at preventing excessive tax benefits. 2. Deductible Representation and …

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Professional Tax Receipt (PTR) Made Easy: Simplify Your Tax …

WebTo serve as evidence of your professional license, it is crucial to include your PTR number in important documents such as deeds, prescriptions, receipts, books of …

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Why Your Business Cannot Survive Without a Bookkeeper

Web4. Save money in the long run. While you will have to pay the professional fees of a bookkeeper, hiring one will save you money. You will be able to save by not …

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Holiday Pay: Everything You Must Know to Compute It Right

WebIf you are a new business and are just learning the ropes of how to handle everything from management to accounting, and payroll prep, here is a list of all the …

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Pros and Cons of Hiring In-House vs Outsourced Accountants

WebIn-House Accountant. 1. Management of internal controls. Since in-house accountants are directly employed in your company, they can keep track and monitor the …

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HR Dilemma in the PH: Employees VS Independent Contractors

Web2. Tax on Compensation. Employees. Employees are subject to withholding tax, which is essentially a tax on the income of employees. It is payroll-related and …

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What is the Accounting Equation and Why It Matters

WebThe accounting equation is a representation of the relationship between assets, liabilities, and equity. It is the basis or foundation of the double-entry accounting …

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The Nuances of Tax Evasion vs. Tax Avoidance

WebEvasion Versus Avoidance. Tax avoidance uses lawful tax-saving devices. You are only trying to reduce the amount of tax you need to pay by utilizing your tax …

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Importance of Financial Statement and Analysis

WebFinancial statement and analysis, or financial reporting, are the practices that give a business’s stakeholders a detailed description of the current financial status of the …

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Mandatory Employee Benefits Employers Must Provide

Web2. Social Security benefits. Philippine Social Security System (SSS) contributions are also a mandatory employee benefit. The SSS can be seen as an …

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