OFW TO OFA

Everyone started as a student of Accounting and maintained the DO's policy, received the Bachelor's Degree in Accountancy diploma, passed the CPA licensure exams and worked in BIG 4. After the audit experienced got hired abroad on a multinational company. I have a different story and a challenging one. Year 2002, I got this opportunity

Tips on How to Pass the CPA Board Exam

The time has come,we need to conquer fears of taking  CPALE and also fear of failure. CPALE is one of the hardest and difficult examinations given in the Philippines, this is a test and measurement of knowledge, understanding, analysis, theory and concepts under the exams given by the Board Of Accountancy, if you deserved the

7 Habits of Highly Effective Students

This article is summary of the 7 Habits of Highly Effective Students - A Time Management Guide for BSA Students & CPA Aspirants. If you have n't downloaded yet, please sign up here CLICK ME First, Goal Setting. Write down your Goal. I used to write at the back of my small notebook Jonathan Ilagan Ruiz,

Tips on How to Pass the CPA Board?

CPA board examination is one of the hardest licensure exams in the Philippines next to Bar exam. Some students failed in their first try and never stops until they passed. Here are 5 tips that I applied personally to passed it on one try: 1. Aim High. At the fist day of review, I committed

CPA SPLE BATCH 2018

SUMMARY OF TAXING INCOME FOR ESTATES AND TRUSTS

What is an “estate” and when is it considered as a separate income taxpayer? An “estate” is the totality of the property left by a deceased person, whether real, personal, tangible or intangible. An “estate” is considered as a separate income taxpayer only when it is a subject either of an “intestate court proceedings” or

SUMMARY OF TAXING INCOME FOR PARTNERSHIPS (PH) AND PARTNERS

Taxable PH Tax exempt PH     GPPH/JV or Consortium for CP/EO All other PH       Extension of the partners Corporation   Calendar/Fiscal accounting period Calendar accounting period only for GPPH QF/P – within 60 days ff. close of 1,2 & 3 quarters AIIR – on or before the 15th day of the

CO-OWNERSHIP

Is a co-ownership taxable? Generally no, because the activities of the co-owners are usually limited to the preservation of the property owned in common and collection of the income therefrom.   What is the tax liability of the co-owners? They shall report in their respective income tax returns their shares of the income of the

Surtax /IAET

Surtax   Penalty tax 10% of the improperly Improperly accumulated accumulated profits profits tax every TY (CY/FY) Additional tax to the R/NCIT Effectivity: Starting January 1, 1998 accumulated profits Corp. Covered: Every domestic corporation formed or availed for the purpose of avoiding the imposition of income tax to its stockholders or stockholders of other corporation

QUARTERLY CORPORATE RETURNS

Who are required to file? Every corporation or partnership subject to income tax shall file a quarterly summary declaration of its gross income and deductions on a cumulative basis. Time of filing and payment The return shall be filed and the tax paid within 60 days from the close of each of the first three