8% OPTIONAL FLAT RATE vs. GRADUATED RATES, WHICH IS BETTER FOR Self-Employed Doctors? This is the most common question I get from doctors nowadays, even from non-doctor friends. Section 109 of the Tax Code, as amended by Section 34 of RA 10963, the new option of the TRAIN for self-employed taxpayer is the availment of…
Top 12 Business and Money Lessons from Watching “The Greatest Showman”
Finally, after almost a month from showing. The Greatest Showman fever finally got me, just two days ago. The movie is so rich, colorful and very entertaining. Many articles on motivation and uplifting of human spirit came up because the movie is so full of that. But, because I am a finance blogger, l view…
The Essential Guide to Estate tax under TRAIN law
Estate Tax, according to BIR is a tax on the right of the deceased person to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death and on certain transfers, which are made by law as equivalent to testamentary disposition. To make it simpler, the Estate Tax is the tax…
8 Facts Doctors Need To Know About the TRAIN and How It Will Impact Your Income Tax
Previously, MyFinanceMD, has been clamoring for TAX REFORMS, since our tax system has not been updated to reflect inflation. See this post: AlDub and Philippine Tax Reform In fact, our tax system’s last update was made 20 years ago. Imagine that! If you are earning more than 500K per year, you are being taxed at…
Top 6 Saving Tips this 2018 to Start Your Year Right
It’s January 1, 2018, and you made some new year’s resolution. If your resolution is like one of most people, that would include saving this 2018. Here are my top 6 savings tips you can do this 2018 1.Track down your expenses, big or small, every day. Include in your tracking all your expenses as…
My 4-year-old Daughter is Now a Successful Entrepreneur
My 4-year-old daughter is now a Successful Entrepreneur. Do you know how it all started? Then read on. It all started with our conversation last July: T: Mommy, I want to have a bike, like Xia’s bike. But I like a purple one. Me: Ok, wait for Christmas. T: But I want it now! M:…
How I Got 41,600 from SSS Maternity Benefit
“The more you know the less you pay.” This has been my mantra ever since I started MYFINANCEMD. It is very much true since, from my first pregnancy, I didn’t know that there is such a thing like this that I can get a maternity benefit just by contributing to SSS. And I paid the…
The Importance of Having a Funeral Services Plan and Burial Lot
As they say, “Death is not the OPPOSITE of life, but a part of it.” Having a funeral services plan is also important in planning since it is a part of life. I remember 2 years ago, a relative died in our home while sleeping. Since I am the doctor of the family, I was…
