About Lesson
Strategies for Reducing Tax Liability: Teach how to claim deductions like home office expenses, travel, and equipment.
M4 Lesson 3 TAX COMPLIANCE GUIDE FOR FREELANCERS AND SMALL BUSINESS OWNE.pptx
Module 1: Introduction to Freelance Tax Compliance
This module covers the basics of tax compliance for freelancers, including understanding tax classifications, obligations, and penalties. Students will learn why tax compliance is crucial for their business success and the consequences of non-compliance.
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Module 2: BIR Forms Explained
A deep dive into the essential BIR forms freelancers need to know, such as Form 1701 (Annual Income Tax), 2551Q (Quarterly Percentage Tax), and 2307 (Creditable Withholding Tax). Students will learn how to accurately complete these forms and avoid common mistakes.
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Module 3: Mastering Tax Filing with eBIRForms and EFPS
In this module, students will get hands-on experience using BIR's e-filing systems (eBIRForms and EFPS). They will learn how to file and pay taxes online, ensuring compliance while avoiding the hassle of manual submissions.
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Module 4: Tax Planning and Saving Strategies
This module focuses on long-term tax planning. Students will learn how to set aside money for taxes, create a quarterly filing plan, and integrate tax compliance into their overall financial strategy, preventing last-minute tax stress.
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Module 5: Staying Compliant and Avoiding Penalties
The final module teaches students how to stay compliant year-round, including how to keep up with tax deadlines, organize their financial records efficiently, and avoid common pitfalls that lead to penalties and audits.
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