Author Topic: How To File Taxes for freelancers?  (Read 1847 times)

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MotherTouch

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How To File Taxes for freelancers?
« on: May 27, 2012, 10:55:33 AM »
Hi,

Question po mga gurus, I have a regular job but I'm planning to get online part-time jobs to supplement my income.. via ODESK or Elancer. How will I pay taxes for those jobs I recall reading a post in a different forum na some freelancers go directly to BIR to file her taxes - pero clueless mga taga-BIR so hindi na lang siya nagfile.

Thank you very much!

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How To File Taxes for freelancers?
« on: May 27, 2012, 10:55:33 AM »

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DonaldTrumpPH

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Re: How To File Taxes for freelancers?
« Reply #1 on: May 27, 2012, 10:58:42 AM »
According to our Tax Code:
Income Tax is a tax on a person’s income, emoluments, profits arising from property, practice of profession, conduct of trade or business or on the pertinent items of gross income specified in the Tax Code of 1997 (Tax Code), as amended, less the deductions and/or personal and additional exemptions, if any, authorized for such types of income, by the Tax Code, as amended, or other special laws.


Meaning, When you earn an income from your online part-time job, it is considered to be income that resulted from the practice of a profession. So you're right, you will have to pay taxes for part-time online jobs which you will be accepting payment for. When paying for taxes, am not sure but i think you will be considered as a mixed income earner, meaning you have a regular job yet you also earn from practicing a profession. There's a section in the BIR Form for mixed income earner,   you have to report your total income by filing an annual income tax return based on the combined amount of your income.

MotherTouch

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Re: How To File Taxes for freelancers?
« Reply #2 on: September 09, 2012, 03:51:20 AM »
Thanks DonaldTrumpPH...

Since i need to file tax, paano ba yun? I mean anong form ang gagamitin?

PesoRepublic.com | Your smart guide to money matters and entrepreneurship.

Re: How To File Taxes for freelancers?
« Reply #2 on: September 09, 2012, 03:51:20 AM »

 

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