Category: My Business
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How to Handle Local Market Purchases Without Official Receipts and Still Stay BIR-Compliant
When you’re running a small business, every peso counts. That’s why many entrepreneurs and local business owners choose to buy raw materials from their local market instead of formal suppliers. The prices are significantly cheaper, and for good reason. Most of these local market vendors operate informally, which means they don’t issue official BIR-registered receipts.
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CMEPA 101: What Savers and CPAs Need to Know About the New 2025 Deposit Tax
There has been growing public discussion, and some confusion, surrounding the recent changes in the taxation of deposit interest income under the Capital Markets Efficiency Promotion Act (CMEPA) or Republic Act No. 12214. As finance and tax professionals, it’s important to understand these changes based on actual provisions of the law and regulatory issuances, rather
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No More Red Tape! PRC Drops Certificate of Good Standing for Most Professionals
ATTENTION CPAs, ENGINEERS, ARCHITECTS, and other LICENSED PROFESSIONALS: We’ve got great news that will make your professional life easier! The Professional Regulation Commission (PRC) has officially DISCONTINUED the requirement to submit a Certificate of Good Standing (COGS) from Accredited Integrated Professional Organizations (AIPOs) when renewing your Professional Identification Card (PIC), unless it is specifically required
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Why Struggle with Slow Systems? Cloud Accounting is the Smarter Move
In today’s digital landscape, cloud accounting is no longer just an option—it’s a strategic advantage. By moving your financial records to the cloud, you gain real-time access to your data, streamline your processes, and significantly reduce overhead costs. Unlike traditional desktop or on-premise systems that require significant investment in IT infrastructure and ongoing maintenance, cloud-based
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Avoid Penalties: SEC Now Requires Official Contact Details
Pursuant to SEC MC No. 28, s.2020, all corporations, partnerships, associations, and individuals registered with the Securities and Exchange Commission (SEC) are required to create and/or designate an official email address and mobile number. These contact details will serve as the primary channels for receiving notices, orders, and other communications from the Commission. Submission Instructions:
Bong Corpuz & Co. CPAs 