Non-income months

Updated: December 2011

16 December 2009

Wednesday

Filing for non-income months

One of the things that freelancers tend to neglect is the filing of percentage taxes for months without income. You may have business transactions, all right--accepting projects or invoicing clients--but the moolah is just not coming in! No fretting will turn around that situation, at least, for one month ... two months ... oh, relax. Do remember that it will only take a visit (i.e., no payment required) to your BIR-RDO to file for three copies of Form 2551M (or whichever form is needed, depending on your classification as an individual income earner), stamped and received by the BIR personnel or staff. Failure to do this corresponds to unnecessary penalties. Now, please don't do this when you do receive any amount for the month. Honesty remains to be the trusted service provider's best policy. ;-)

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