Small, Medium and Large companies need to file your BIR tax report and declaration monthly and quarterly whether you have sales or not.
Common mistake that happens are companies fail to do this which will result into penalties and high tax payments.
If you have an in-house accountant they can probably do this tax filing consistently. But if you do not have, you need to secure outside services from accounting firms to do the book keeping and tax filing for you.
If you are a small or medium company the wise move is to outsource your accountant via accounting firms so you can focus on your company operation. But this does not mean you will not evaluate your financial and taxation monthly, you will work closely with your outsource accountant auditor so you can balance your cash flow and maintain the necessary licenses and business documents.
How much would it cost me to hire an accounting office?
This depends on how big your operation already. Let's say your a start up company only, on market price the monthly retainers will cost you around : Php4,000 to Php6,000.
If your a medium company and operating already, your retainers monthly might cost : Php 6,500 to Php9,990.
Should we consider the location of the accounting firm before hiring them?
The answer is YES, the firm should be able to go to your local BIR RDO office.
It's a plus factor also that you or your outsource accountant can visit you at least once a month or quarterly.
If you are thinking of doing the filing yourself, you can do it however try to check 1st the scope of workload below :
If you are a CONSTRUCTION COMPANY and you need to maintain a PCAB LICENSE every year, your BIR Tax declaration should coincide and well balanced with your company equity ITR AFS.
In other words, you must know your financial company equity versus your PCAB license category.
For example :
Your PCAB License is category D, your company equity that should appear in your annual financial statement should be above Php 2Million. If you do not know how to balance this you can consult your accountant or your outsource auditor.
If your company are located in these locations : Metro Manila, Rizal areas, Laguna, Cavite, Bulacan you might want to consider hiring us as your outsourced auditing firm.
Advantages that we can offer you:
Our retainers price is competitive at Php5,999 with lots of other services discount.
We have our own licensed CPA
We designate one accountant for your account to focus
We monitor your company equity to balance with your PCAB License
We balance your tax filing coinciding with your sales result
If interested to get our expert services, call or text us at 0935-051-8538 GLOBE / 0921-549-5991 SMART.
A few reminders :
1. Pay your taxes on time
2. No Sales - still you need to file your BIR form 2550M & 2550Q
3. If you cannot do it and you don't have a in house accountant, outsource it
4. A negative equity yearly will draw attention and audit from BIR
5. If you have open cases, pay it asap so it won't occur penalties