Tax season doesn’t have to be a fire drill.
Here’s a simple checklist to help you stay organized, compliant, and stress-free.
Whether you’re a freelancer, service provider, or online seller, use this list to make sure you’re ready for filing—without the last-minute scramble.
✅ 1. Gather Your Sales Records
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List down all income earned for the quarter/year
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Make sure you have official receipts or invoices issued (especially for PH tax compliance)
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Match your sales totals with payment platforms (GCash, PayPal, Stripe, bank transfers)
Tip: Keep a separate tracker for cash payments and online payments to avoid gaps!
✅ 2. Organize Your Business Expenses
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Gather ORs (Official Receipts) for deductible expenses like:
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Internet bills
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Power bills (if working from home)
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Office supplies
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Freelance contractors or team payments
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Advertising/marketing expenses
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Subscriptions and online tools used for business
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Make sure receipts are under your registered name or business name.
Tip: Digital receipts are accepted for many deductions. No need to print!
✅ 3. Confirm Your Registration Details
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Is your BIR Certificate of Registration (COR) updated?
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Are you registered as a freelancer/self-employed/sole prop?
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Are you VAT or Non-VAT registered? (This affects the forms you file.)
Tip: If you’re unsure which type of filing you need (Form 2551Q? 1701Q?), ask your Thrive advisor—we’re here to guide you.
✅ 4. Check Your Filing Deadlines
For freelancers and online sellers in the Philippines:
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Quarterly Income Tax Return (1701Q): Due every May, August, and November
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Annual Income Tax Return (1701): Due every April 15
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Percentage Tax or VAT Returns: Due monthly or quarterly (depending on your setup)
Tip: Mark your calendar 7 days earlier than the deadline to allow time for reviews and corrections.
✅ 5. Approve and File Early
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Respond quickly to your tax preparer’s review or approval request
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Pay your taxes through online portals (GCash, Maya, bank transfer)
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Download and keep copies of your filed returns and payment confirmations
Tip: Thrive EasyTax clients get a pre-summarized report—make sure your invoices and receipts are uploaded by the 24th of the month!
🎯 Final Reminder:
Doing taxes late isn’t just stressful—it can also lead to:
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Penalties (interest and surcharges)
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Missed deductions
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A huge mental load that distracts you from growing your business
Stay proactive now—and your future self will thank you.
Need Help?
If you need assistance sorting your records or filing your returns on time, email info@thriveglobalcfo.com with the subject “Tax Help” and our team will support you!
