Browsing Tag:small business accounting

Explaining The Philippine Tax Amnesty Act of 2019

The Philippine Tax Amnesty Act of 2019, also known as the Republic Act 11213 (RA 11213), allows taxpayers to avail the benefits of the Estate Tax Amnesty law. The Philippine President Rodrigo Duterte signed the act on February 14, 2019, and it already started effect on June 15, 2019.   On May 30, 2019, the released Revenue Regulations 6-2019 (RR 6-2019) that states the act will “provide the taxpayers a one-time opportunity to settle estate tax obligations through an estate…

How to Streamline Your Bookkeeping for Efficiency

Bookkeeping is both important and time-consuming. For small business owners, entering expenses on books takes so much of their time and focus that should be allocated to other pressing business matters. Unfortunately, bookkeeping is an integral part of a business. It helps in monitoring expenses as well as serves as a record when it’s time to pay taxes. One wrong declaration of costs can already lead to fees and legal trouble. So, what should be done to avoid errors in…

How Small Businesses Can Effectively Manage their Finances

Did you know that every company has something in common? That’s right, they have tasks concerning money. Whether from a startup or a long-running conglomerate, they manage their own finances or hire an expert to get it done. Looking at financial management, knowing how to properly perform such task can tremendously help a business survive in the industry it’s in. Small business should take note of that. However, not everyone is gifted with the patience, skill, and perseverance in crunching…