Everyone (including your family, friends and strangers) thinks doctors are rich. There is a little bit of irony in that statement as most doctors (especially the starting ones) realize that they are not near as where THEIR family and friends think they are. However, doctors didn’t typically go to a medical school in order to…
Category Archives: Doctor’s Lounge
Why are Most Filipino Doctors not RICH? Top 5 Obstacles Keeping Filipino Doctors from Becoming Wealthy
Almost every person in the Philippines thinks ALL doctors are RICH. But honestly speaking, doctors are the most underpaid professional, especially the ones in training. Imagine, a resident physician getting paid 12,000++ pesos per month, doing 36 hours duty every other day? And even after residency, most doctors, especially the underprivileged ones don’t get to…
Pera-Pera Lang…. Walang Personalan (a Speaking Engagement) Camp John Hay, Baguio
It was exactly a month ago when I was invited by Dr. Victor Gaddi, President of Philippine Orthopaedic Association (POA), North Luzon Chapter for the Quarterly Meeting of North Luzon and North South Chapter to be a speaker for them regarding Financial Literacy for Doctors. This was not the first time I was invited to…
Part 4: Penalties for late filing of Income Tax Return for Doctors FILIPINO DOCTORS AND TAXATION
It’s now April, summer vacation and tax time! To my fellow doctors, please don’t forget to file for Income Tax Return on or before April 15 to prevent penalties. There are three kinds of charges or penalties in the late filing of Income Tax Returns, namely: Surcharge Interest Compromise Case #1: This is a case…
FILIPINO DOCTORS AND TAXATION Part 3: How to file INCOME TAX RETURN as a Physician
Here is the Part 3 of my series on Filipino Doctors and Taxation. The most awaited topic. “How to file Income Tax Return (ITR) as a Physician?” As a gentle reminder, the deadline for filing your Income Tax Return from the previous calendar year is on April 15 of the following Year. So please…
FILIPINO DOCTORS AND TAXATION Part 2: How to Issue Receipts: Guidelines for Moonlighters/Starting Private Practice
Due to insisted public demand, I will be speeding up my post in this series. I am overwhelmed by emails and private messages. So, hang on colleagues! If you are a moonlighter or starting a private practice, it only means, you have step-out of your shelter (medical school and training), you could be a fresh…
FILIPINO DOCTORS AND TAXATION Part 1: The Ultimate Guide on How to Register as a Doctor/Physician in BIR
This will be the first post in a series. A series of all the Know-how when it comes to BIR, taxation and having harmonious relationship with them. And I dedicate this to my colleagues in the medical field. To my fellow physicians, always remember, knowledge is power and Ignorance of the law excuses no one…
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