KJFlores Accounting Services

These are the times when business owners and taxpayers normally seek the help of CPAs:

• For startups: upon starting their business — to operate and transact legally (issue ORs) and complete all government requirements
• Before April or tax season
• When trying to consult financial matters
• When preparing for an audit

If you're looking for someone to help you in any of these situations, feel free to reach out to us!

Running a business may look like it's all about the sales, but it's not.

If you're building a business and need help understanding your taxes — or perhaps you're just starting out and find yourself at a loss with all these forms and registrations — we may be of help. Ask us how.

Let's get your business legit and running! We offer end-to-end accounting solutions and let you focus on managing your business worry-free.

Work directly with a ✔️ Certified Public Accountant and ✔️ BOA-BIR Accredited Tax Practioner for a guaranteed stress-free service!

Talk to us!

We can see how our little explainer series gets attention and so here's another one!

Today, we'll talk about what we're so used to see and hear from almost all our daily business dealings -- VAT, or Value-Added Tax.

𝗕𝗜𝗥 𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝗺𝗲𝗻𝘁: Deadline of BIR Forms 1604-C and 1604-F is extended.

New deadline: February 28, 2021
Full text: https://bit.ly/3cg1umC

UPDATE: Try re-downloading your Alphalist Data Entry and Validation Module Version 7.0. Bug issues fixed!

In today’s episode of Know Your Taxes, we talk about Percentage Tax.

Learn more about this commonly heard business-related tax and see if your business falls under this category.

For more details, you can always go and review tax info at bir.gov.ph.

Practical from DTI Philippines

Bagong Taon, Bagong Hanapbuhay! Nag-iisip simulan ang online selling?

Eto ang ilang tips para sa'yo:

- Alamin ang iyong area of expertise! Hindi basta uso, papatok agad ito.
- Subukan ang negosyo. Simulan ang online store and ayusin nag e-payment at fulfillment process!
- Gumawa ng Social Media Pages. Isa ito sa pinakamabilis na paraan ng promotion.
- Pag-aralan ang kahalagahan ng online advertising. Alamin ang grupong dapat i-target at maging specific sa mga pangangailangan nito.

Para sa karagdagang tips tungkol sa online business, bisitahin ang http://ecommerce.dti.gov.ph/

New BIR RMC issued!

The updated version of the Alphalist Data Entry and Validation Module (Version 7.0) is now available and can be downloaded from the BIR Website. Download here: http://bit.ly/3ovFI1o

Note: Some might encounter issues downloading the app, getting Version 6.1 instead of 7.0. Try using other browsers if you do!

Full text: https://bit.ly/3i47Lm8

Is getting an accountant worth the retainer fees? Think of us as biased, but we’ll tell you - yes. Now you might consider a retainer fee as an expense but think of it this way: Professionals studied for years (and still go through trainings until today) to understand something as big as taxation. This expertise helps clients avoid risks and take the best course of action to maximize profit, all with respect to government policies and regulations.

We believe it’s our job to let you know what you’re paying for. And what you can save up.

Starting the week with such great news!

An online appointment system for certain services is coming soon!

While we know how much of a hassle fully legitimizing your business is, it’s always worth it when you see everything running smoothly. Plus, nothing beats the security and confidence in running a legitimate business.

Get someone knowledgeable enough not just to navigate around RDOs and government agencies but actually handle the rest of the compliance work for you. Talk to us and see the difference.

Have you heard of the 8% Income Tax rate option? This flat tax rate created quite a buzz since the effectivity of the TRAIN Law. But what does it really mean for SMEs, professionals and freelancers? Read on below!

Understanding taxes along with their respective forms and filing process can get a little bit chaotic, agree? So here we are coming up with a little series of explainers for you called 𝗞𝗻𝗼𝘄 𝗬𝗼𝘂𝗿 𝗧𝗮𝘅𝗲𝘀. We’ll try to address unfamiliarity, correct misconceptions as much as we can, and help you get on the right track with your tax compliance in general. Let’s get you started with Income Tax.

You might've seen a lot of tax references detailing steps and other information for individual and non-individual taxpayers. To those who are still confused on what category they or their business falls under, this little guide should help!

Starting a business as a non-individual? Here are straightforward definitions and steps that can serve as reference when you register as a taxpayer.
Full text: https://bit.ly/2K3sbPk

Great sources cited below if you want to read on!

Intimidated by taxes? You’re not the only one.

Many say taxes can be quite overwhelming especially for business startups. We agree -- that’s why we take it seriously.

We learned that oftentimes, problems arise when entrepreneurs try to handle it on their own on top of managing their business, or worse - simply getting a “tagalakad” thinking it will save them costs.

Hiring a professional accountant takes all the hassle and extra paperwork out of your hands but more importantly, helps you save money in the long run.

✅ 💯 Legit and compliant business
✅ Effortless filing
✅ Worry-free BIR transactions
✅ No missed deadlines
✅ No penalties
✅ Unlimited consultations with a Certified Public Accountant, BIR-Accredited Tax Practitioner

Message us to know more about our services.

PROFESSIONAL looking to register with the BIR?

You’ve come to the right place. We’ve broken down the steps and requirements for BIR Registration as posted by the BIR into these handy infographics.

Read more: https://bit.ly/2WaNtgV

What does DTI Registration really mean for your online business? It’s honestly not as complicated as many of us think. This post pretty much sums it up.

[sources cited below]

Online business owners tend to stress over BIR and DTI registration a lot, and it’s easy to see why. Many of them don't know exactly where to begin.

We just found one of the best sources detailing everything you need to know about registering your business with the BIR and DTI.

Find detailed steps in this article: https://www.securitybank.com/blog/how-to-register-your-online-business-in-bir-and-dti/

Have your online business go full-legit!

To everyone asking, here are the steps to register your online business with the BIR :)

🌾It’s sad to see many business owners stuck in countless open cases and problems left by their previous “accountants”. Some were left hanging, “ghosted,” which led them to blindly operate their business because they are clueless about these issues. Worse, they unknowingly pile up on penalties.

Most of our clients come from that.

✨💫When you work with us, we’ll do our best to smoothen out all these issues for you one-by-one so you can continue doing your businesses, legit and worry-free.

✨ It's the National MSME Week! A series of e-fora will be held by DTI and PTTC starting tomorrow. Exactly what we need!

➡️ Register or tune in to DTI's page for the live stream!

REGISTER NOW and reserve your slot! And join us in the first virtual celebration of the National MSME Week this year!

Building on the success of its past editions, and in light of the current state of the world, the Department of Trade and Industry, in cooperation with the Philippine Trade and Training Center (PTTC), is offering a 5-day online experience with a dynamic agenda that will feature five (5) different e-fora to explore the impacts of the COVID-19 pandemic on MSMEs including policy measures in place to support their viability and enhance their resiliency and sustainability.

With the theme “MSMEs’ Recovery to Resilience,” the 5-day e-fora of National MSME Week 2020 will highlight both the public and private sector response to the crisis in order to minimize the negative impacts, support business operations continuity, and protect workers’ rights, focused on innovative market-based approaches and solutions to help MSMEs recover and promote their participation in economic activities.

The week-long activities will be conducted via the Zoom online platform and will be streamed via Facebook Live of DTI Philippines and Go Negosyo.

Below are the pre-registration links for the following e-fora:

July 20 – National MSME Week E-Forum 1: Building an Enabling Business Environment for Resilient and Sustainable Enterprises | 09:30 AM – 12:30 PM
Registration Link: https://bit.ly/MSMEWeekOpeningB

July 21 – National MSME Week 2020 E-Forum 2: Inclusive Financial Innovation for Recovery and Sustaining Enterprises | 10:00 AM – 12:00 NN
Registration Link: https://bit.ly/IncFinInnovationB

July 22 – National MSME Week 2020 E-Forum 3: Developing Resilient Entrepreneurs as Drivers of Innovation | 10:00 AM – 12:00 NN
Registration Link: https://bit.ly/DevelopResilientEntrepB

July 23 – National MSME Week 2020 E-Forum 4: Leveraging on Technological Innovation for Disaster-proof and Sustainable Enterprises | 10:00 AM – 12:00 NN
Registration Link: https://bit.ly/LeveragingTechnologyB

July 24 – National MSME Week 2020 E-Forum 5: Riding the Wave of Digital Transformation for Sustainable Enterprises | 10:00 AM – 12:30 PM
Registration Link: https://bit.ly/RideWaveDigTransformationB

For inquiries, you can email [email protected].

Still unsure if you should get a professional accountant for your business?

To help you decide, here are a few reasons why getting a professional is worth every penny --

Running a business is not easy. And, there’s still BIR to think about.

Why not let us do the work for you?

𝗪𝗵𝘆 𝗵𝗶𝗿𝗲 𝗮 𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁?
✔️ It saves you money in the long run. Believe it or not.
✔️ We file taxes on-time. We assure you: No penalties. Ever.
✔️ We know what’s what. We are professionally-trained and are up-to-date with government agencies’ developments.
✔️ We’ll always keep you updated. So you also know what’s what.

𝗪𝗵𝘆 𝘂𝘀?
✅ Certified Public Accountant
✅ BOA-BIR Accredited Tax Practitioner
✅ We know all our clients very well. We personally handle their accounts.
✅ That’s why we can easily give 𝙪𝙣𝙡𝙞𝙢𝙞𝙩𝙚𝙙 𝙛𝙧𝙚𝙚 𝙘𝙤𝙣𝙨𝙪𝙡𝙩𝙖𝙩𝙞𝙤𝙣𝙨 to all of them.

Inquire about our services and together, we’ll achieve your business goals.

It's Metro Manila's first day under GCQ.

Despite the eased up measures, continue to observe physical distancing and practice health precautions all the time.

As of today, more areas placed under GCQ are:

NCR
Angeles City
Aurora
Bataan
Batanes
Batangas
Bohol
Bulacan
Cagayan
Cavite
Cebu
Cebu City
Isabela
Laguna
Lapu-Lapu City
Lucena City
Mandaue City
Negros Oriental
Nueva Ecija
Nueva Vizcaya
Olongapo City
Pampanga
Pangasinan
Quezon
Quirino
Rizal
Santiago City
Siquijor
Tarlac
Zambales

Keep in mind the following while we transition to our new normal:

▪️ Continue to observe health precautions like mask-wearing and safe distancing

▪️ Quarantine passes will no longer be required for LGUs under GCQ except buffer and critical zones, and high-risk areas

▪️ Curfew hours are still imposed

▪️ The risk of infection remains; be more vigilant and do not be complacent

▪️ Public transport will resume operations at reduced capacity

▪️ Walking, jogging, biking and other non-contact sports are allowed subject to public health precautions

▪️ Gatherings for government humanitarian activities are allowed

▪️ Religious gatherings limited to 10 persons

Full text: https://news.mb.com.ph/2020/05/31/metro-manila-eases-to-gcq/

Metro Manila eases to GCQ As Metro Manila transitions today to General Community Quarantine (GCQ) and more relaxed measures to help jumpstart the economy, Malacañang rallied the nation not to waste the sacrifices made over the past few weeks and continue to observe health precautions such as mask-wearing and safe distancing...

📌 SSS Advisory:

SSS Contribution Payment Deadlines Extended❗

To those asking, please be informed: No extensions this time. Please file and pay your taxes on or before the deadlines! (Deadlines here: https://bit.ly/3c0MwxI)

Here are the highlights of RR No. 12-2020 as per the BIR. :)

Full text here: http://ow.ly/fwIB30qIky5

Small business owners are highly encouraged to issue a Taxpayer Identification Number (TIN) to their employees not just for tax filing requirements. Such information is required to be able to avail government subsidies in times like these.

We can help you with that.

Let’s make running your business smooth-sailing and worry-free. Check out our services: https://bit.ly/3dcnLz2 to know more.

Looking for the complete table of the latest BIR Deadline Extensions (RR No. 11-2020)? We wouldn't want to miss other dates so we’ve got it here, all in one place!

We’ve also categorized the frequently asked ones to make the search easier. Feel free to save these images on your phone for quick review. ;)

Full text here: http://ow.ly/wUuk30qCwje

Like our page for more updates like these!

Sharing with you the Joint Memorandum Circular 001-2020 on the Guidelines for the Availment of the Small Business Wage Subsidy Measure (SBWS).

Here are some of the highlights concerning the small business employers and employees:

𝗖𝗢𝗩𝗘𝗥𝗔𝗚𝗘 𝗔𝗡𝗗 𝗦𝗖𝗢𝗣𝗘

▪️The SBWS, publicly known as the Small Business Wage Subsidy Program, aims to provide a wage susidy to complement the social amelioration programs under the “Bayanihan to Heal as One Act” by providing targeted support to formal sector employers and their employees.

▪️SBWS covers small business employers and their eligible employees employed as of March 1, affected by the ECQ or other forms of quarantine

▪️Wage subsidy of P5,000 - P8,000 (based on the regional minimum wage); given in 2 tranches

▪️Employees who have received benefits from DOLE’s CAMP (COVID-19 Adjustment Measures Program) & other similar programs may be eligible under the SBWS but the wage subsidy for the 2nd tranche shall be net of any amount received from the said programs and subject to conditions

𝗘𝗟𝗜𝗚𝗜𝗕𝗜𝗟𝗜𝗧𝗬 𝗙𝗢𝗥 𝗘𝗠𝗣𝗟𝗢𝗬𝗘𝗥𝗦

✅ Eligible employers are small business employers belonging to NON-ESSENTIAL (sectors/firms forced to temporarily close due to the quarantine) and QUASI-ESSENTIAL (sectors/firms that may operate but under alternative/flexible work arrangement)

✅ Registered in the BIR, SSS, and have complied with tax obligations and have paid SSS contributions in the past three years up to January 2020

𝗘𝗟𝗜𝗚𝗜𝗕𝗜𝗟𝗜𝗧𝗬 𝗙𝗢𝗥 𝗘𝗠𝗣𝗟𝗢𝗬𝗘𝗘𝗦

✅ Employed by an eligible business employer

✅ Prevented from performing work for at least 2 weeks (due to suspension of work, temporary closure, adoption of flexible work arrangement)

❌ Employees working from home / part of skeleton workforce

❌ Employees on leave during quarantine with or without pay

❌ Employees who are recipients of SSS unemployment benefits / have unsettled or in-process SSS final claims

𝗔𝗗𝗗𝗜𝗧𝗜𝗢𝗡𝗔𝗟 𝗖𝗢𝗡𝗗𝗜𝗧𝗜𝗢𝗡𝗦

▪️Small business employer must maintain the employment status of all employee beneficiaries before quarantine and throughout SBWS period

▪️Employee beneficiaries cannot resign during the period of quarantine

𝗚𝗘𝗡𝗘𝗥𝗔𝗟 𝗚𝗨𝗜𝗗𝗘𝗟𝗜𝗡𝗘𝗦

▪️BIR shall pre-qualify small business employers on the eligibility requirements

▪️Pre-qualification shall not immediately entitle small business employers and employees to the SBWS

▪️Pre-qualified small business employers shall apply for the SBWS; Applications accepted until May 8, 2020

▪️Small business employers shall include in the application eligible employees and should certify truthfulness, accuracy, and completeness of information

▪️SSS shall process and determine the eligibility of employees and employees in consultation with the BIR

▪️Payout is through direct deposit to bank account

- If with no SSS-registered bank account: Enroll first the bank account / e-wallet details

- If with no existing bank / e-wallet account: Cash pick-up arrangement in remittance transfer companies through an SSS-authorized government depository bank

- For employees with SSS-registered bank accounts, no further action required

▪️Payout in two tranches:
1st: Apr 29 - May 15, 2020
2nd: May 16 - May 31, 2020

For complete definition of terms, roles and responsibilities of concerned government agencies, and other guidelines, read full text here: http://ow.ly/C3bA30qCdvp

JMC 001-2020 http://ow.ly/pATQ30qCdvQ

How can employers issue Taxpayer Identification Numbers (TINs) for their employees?
via the BIR eReg system

Fresh update!

Fresh update!

UPDATE AS OF APRIL 27, 2020

May tatlong paraan na ang mga pre-qualified employers para makapag-apply sa Small Business Wage Subsidy (SBWS) program para sa kanilang mga empleyado.

Maaaring i-check ng employers kung sila ay pre-qualified para sa SBWS program sa https://www.bir.gov.ph/images/sbws/index.php. Dito rin nila makukuha ang BIR passcode na gagamitin sa application.

METHOD 1: My.SSS account (via www.sss.gov.ph)

✔️ Maaari itong gamitin ng lahat ng pre-qualified employers na mayroong My.SSS account sa SSS website.

ℹ️ Para sa step-by-step instructions, puntahan ang bit.ly/SBWSMethod1

METHOD 2: E-form submission through secure site (via secure link sent through email)

✔️ Maaari itong gamitin ng mga pre-qualified employers na may email address sa file ng SSS at nakatanggap na ng email mula sa SSS tungkol sa prosesong ito.

METHOD 3: File upload through secure site (Microsoft Excel file upload to sbws.sss.gov.ph)

✔️ Maaari itong gamitin ng lahat ng pre-qualified employers sa SBWS program. Ang kailangan lamang ng employer ay:
(1) ang passcode mula sa BIR website, at
(2) isang computer na mayroong Microsoft Excel

ℹ️ Para sa step-by-step instructions, puntahan ang bit.ly/SBWSMethod3

Ang deadline para sa application sa SBWS ay na-extend na hanggang May 8, 2020.