Are you clueless on how taxes are computed? Do you wish you can counter-check the computation of your accountant and book keeper before paying? Do you fall victim by paying more than you need because you don’t have any idea what you’re paying? Then… Welcome to the first VLog of MyFinanceMD. Due to public…
Tag Archives: income tax
8% OPTIONAL FLAT RATE vs. GRADUATED TAX RATES, Which is better for Self-Employed Doctors?
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…
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…
