When we say Millennials, these are the people that are born from 1980-1996. This year, these Millennials will be in the range of 20s to mid-30’s. These questions came from a Millennial Reader, let’s name her Melanie. She is currently in college, passionately loving being young but still wanted to be a responsible Millennial. …
Category Archives: Doctor’s Lounge
Project: Empower the Healer – a Success!
Dr. Ryan Arbie Bueno-Gusilatar and I met few years back during our internship days in medicine. Only few months before did we meet again for the second time and engage as two doctors talking about Financial Wellness where she became my client. We learned that we have the same advocacy in life, which is to…
Who Wants to be a Doctor-to-the-Barrio?
For all those who became a Doctor-to-the-barrio before, they know the meaning of this: “Once a Doctor is in public health like DTTB program, he will always have a heart in public health.” That is why many of the graduates of the program stayed in public health. But also a number of them went back…
For Doctors: How to Avoid Tax Mapping Penalties when BIR goes to your Clinic
The Bureau of Internal Revenue (BIR) are doing their regular rounds or “Tax Mapping” to different business establishments to inspect compliance, and doctor’s clinic is one of their favorite. Tax Mapping is also called as Tax Compliance Verification Drive done usually every quarter. Its purpose is to inspect compliance of business establishments like your clinic…
Filipino Doctor’s Taxation: Monthly Percentage Tax
Question: Tax was already deducted in my income, what is Percentage tax? How come I still need to pay this monthly? Percentage tax – is a tax imposed for those who sell or lease good, properties or services, including those practicing medical profession with gross annual sales and receipts of less than P1,919,500 in…
Doctors Vs Social Media and Philippine Health Care System
Doctors and Social media. MyFinanceMD was put up to educate doctors on how the world of finances works. But now, I am writing this post not to educate the doctors, but to educate the people and society on the entire health care system. There has been a recent viral post regarding an incident where a…
Doctor’s Taxation: How to Compute your Income Tax Return (Part 5)
Dr. Angelo is a budding Internist, married, his wife is not employed or engaged in any business. They have a 3 year old daughter Cassandra. He is practicing in 3 hospitals and clinics. How would he compute his income tax? How much does he need to pay in filing his Annual ITR before the April…
Doctor’s Biggest Mistakes in Choosing a Financial Advisor
While becoming a doctor needs 86,000 hours or more of studying and training, there is an absolute total of zero hours of training in: business, taxation, financial literacy or financial issues related to the “business” of being a doctor. Doctors receive no training on how to choose or evaluate financial advisors which includes: Insurance agents,…
