Q. Why outsource my Accounting Department?

A. There are many advantages, but the most significant one is getting better services for much less money than hiring an internal accountant. Allow professionals to handle their jobs. If you're like the majority of owners and managers, you take great pride in the services and goods your business offers. Your main goal is to devote all of your time and effort to business strategy and objectives. You can achieve this by outsourcing the Accounting Department to a devoted, expert professional services company. You'll gain peace of mind, save time, and lower operational costs by outsourcing your accounting to AP CPAs.

Q. Is having an outsourced Accounting Department help me manage my business?

A. Your business may incur too much expense in recruiting and training new employees for your accounting department. Your business won't have to go through the hiring process or spend money and time training bookkeepers or accounting supervisors if you outsource your accounting. Alternatively, if you have been handling the bookkeeping yourself, you may now focus your time on tasks that are more crucial to you and your company. You'll be able to base your judgments on more than just your bank account's cash amount.

Your company receives quick, reliable financial data from an outsourced accounting department, allowing you to identify the most profitable areas of your organization and prioritize those areas accordingly. These professionals help a business owner to become more knowledgeable in investing energy and resources in the proper places. You now can access resources that were previously out of reach for your company. As AP CPAs handles all your bookkeeping duties and updates your accounting records, you continue to have complete 24-hour access to and control over your information. Absolutely the best of both worlds.

Q: If I let a third party handle the books, won't I lose control?

No. You will have more control now that you have better financial information and more time and resources to plan instead of just responding to company happenings.

Q. Do I have assurance that all my confidential information isn't disclosed to third parties?

A. Our firm is aware of the protection demands of each of our clients. We always upheld the confidentiality of our clients because we are experts. We always insist on including a confidentiality clause or agreement when we sign a contract with our clients.

Looking for a CPA? Contact us.

Q. Why outsource my Payroll Department?

A. There are many advantages, but the most significant one is getting better services for much less money than hiring an internal payroll accountant. Allow the professionals to handle their jobs. If you're like the majority of owners and managers, you take great pride in the services and goods your business offers. Your main goal is to devote all of your time and effort to business strategy and objectives. You can achieve this by outsourcing the Payroll Department to a devoted, expert professional services company. You'll gain peace of mind, save time, and lower operational costs by outsourcing your accounting to AP CPAs.

Q. Is having an outsourced Payroll Department help me manage my business?

A. Your business may incur too much expense in recruiting and training new employees for your payroll department. Your business won't have to go through the hiring process or spend money and time training payroll accountants if you outsource your payroll. Alternatively, if you have been handling the payroll yourself, you may now focus your time on tasks that are more crucial to you and your company.

Your company receives quick, reliable payroll data from an outsourced payroll department. Our professionals can help business owners to become more knowledgeable in investing energy and resources in the proper places. You now can access resources that were previously out of reach for your company. As AP CPAs handles all your payroll duties, you continue to have complete 24-hour access to and control over your information. Hassle free!

Q. Do I have assurance that all my confidential information isn't disclosed to third parties?

A. Our firm is aware of the protection demands of each of our clients. We always upheld the confidentiality of our clients because we are experts. We always insist on including a confidentiality clause or agreement when we sign a contract with our clients.

Looking for a Payroll Accountant? Message us.

1. Who Must Register With The BIR?

Every person and business subject to any internal revenue tax shall register once with the appropriate Revenue District Officer (RDO)

• Individuals such as employees, practitioners, consultants, proprietors.

• Partnership

• Corporation

• Joint Venture

• Trustee

2. What are the Tax Returns required to file?

Depending on the Tax Returns listed in the BIR Form 2303 Certificate of Registration (COR).

These are the commonly listed tax returns:

• TrusteeWhat are the Tax Returns required to file?

• 0605 Payment Form (for Annual Registration Fee)

• 1601C Compensation Withholding Tax

• 0619E / 1601EQ Expanded Withholding Tax

• 0619F / 1601FQ Final Withholding Tax

• 2550Q Quarterly Value-Added Tax or 2551M Quarterly Percentage Tax

• 1701Q / 1702Q Quarterly Income Tax Return

• 1700 / 1701 / 1702 Annual Income Tax Return

• 1604C Annual Income Tax Withheld on Compensation

• 1604E Annual Expanded Withholding Tax

• 1604F Annual Final Withholding Tax

3. What if I have branches? Do I need to pay the Annual Registration Fee?

If you have other places of business operations or a branch, you must pay the annual fee of 500.00.

Do I need to maintain separate Books of Accounts for the main office and each of the branch offices?

Yes, you need maintain separate Books of Accounts for the main office and each branches.

Do I need to file separate Tax Returns for the main office and each of the branch offices?

No. You need to consolidate the taxes of the main office and all of the branches and file and remit under the main office’s registered RDO.

4. If you change your business address within the year, are you required to pay the annual registration fee again?

If you pay already your annual registration fee within that year, you are no longer required to pay it again even you change your business address that year.

If you change your business address within the year, are you required to update your BIR Certificate of Registration?

Yes.

If your new address is still within the jurisdiction of your current RDO. You only need to submit Form 1905 and its requirements and surrender your current COR.

If your new address is under a different RDO’s jurisdiction you have to accomplish Form 1905 and indicate the new RDO where you are requesting to be transferred, then bring this Form 1905 to your old RDO. The procedure should be completed and your TIN registered to your new RDO will be available in about a week.

5. When should we start filing our tax returns?

Once you obtain your Certificate of Registration, you can check the needed tax returns to be filed and their starting dates.

6. When to apply for the cancellation of business registration?

When a taxpayer closed their business operation or terminated because of bankruptcy or death or dissolution (whichever is applicable), they can file to the BIR to cancel registration stating the reason.

7. When and where to update the Registration Information?

If you need to update/correct/cancel any of the following:

• Replacement / cancellation of COR, ATP, TCL1, TIN Card, TCL2/CAR.

• Correction/change/update of registration information

• Closure of Business/cancellation of Registration

• Change of Civil Status

• Books of Accounts

• Other Update/Correction

You need to bring the accomplished Form 1905 to your respective RDO where you are registered.

8. Are all Non-resident aliens are required to register with BIR?

A non-resident alien must have the TIN for withholding purposes whether doing business or not engaged in a trade or business in the Philippines. The income within the Philippines is subject to withholding tax. To know the withholding tax rate for a non-resident alien, you may check the withholding tax train law Philippines.

The withholding agent shall apply for the TIN to withhold the income of NRANETB or NRFC before or at the time of the filing of their monthly withholding tax return as an applicant under EO 98, series of 1998 (Sec.4.1v of RR 7-2012).

9. If a non-VAT registered Business exceeds the 3 million gross sales, is it required to change registration to VAT?

Yes, otherwise, you may receive a VAT assessment from the BIR which normally includes penalties and surcharges.

10. Do we need a CPA to file our Tax Returns.

No, but there is a chance that your filings are incorrect such as incorrect declarations, under/over-remittance, wrong venue of filing or payment, etc. that can expose the business to various BIR penalties.

Engaging a CPA will bring confidence to your filing!

Email us at info@apcpas.ph