The Step-By-Step Guide To Filing Taxes Online For Filipino Doctors
Filing taxes online can get quite confusing. With tons of paperwork, confusing jargon, and the ever-changing political climate, it would be unfair to ask professionals to comprehend tax laws and any subsequent changes over time.
This holds especially true for Filipino doctors, who already have a lot on their plate.
In this article, we go over a simple, step-by-step process to help you file your taxes quickly and accurately.Why should I use Anantaks for filing taxes as a Filipino Doctor?
Like we mentioned before, medical professionals have a lot on their plates. Aside from their professional responsibilities, Filipino doctors also need time to spend with their family, friends, and themselves.
For the sake of improving your mental health, you wouldn’t want something tedious and confusing like taxes to take up your precious free time.
That’s where Anantaks comes in.
Anantaks was built from the ground up with the consumers in the forefront of our minds. With our team of accountants and CPAs, we’ve come up with a product that provides you with a streamlined process for filing your taxes.
Here’s how you can get started:Step 1.) Create Your Anantaks Account
Head on over to https://anantaks.com and create a free account by putting in your name, your e-mail address, and a password. You’ll also have to verify your account through a link that will be sent to your email account.
After verification, you’ll then be led to a different section where you’ll have to create your business profile. Don’t worry, it’s not complicated and we don’t ask for more than what’s necessary. Anantaks also keeps your information safe and protected as we don’t provide your information to any third-party organization without your consent.
You’ll simply have to enter your complete business details and upload a scanned copy of your Certificate of Registration(CTR).Step 2.) Subscribe To Your Plan
Now, it’s time to select your subscription plan. Here’s a quick overview of the best plan for you depending on your circumstances:
For doctors without employees and an annual income less than Php 3,000,000, we suggest you take on the Anantaks Self-Employed Package. This package was developed for doctors who are employed by clinics while also holding private practices online.
Should your revenue exceed Php 3,000,000 per annum, we’ve specifically curated the VAT-Registered Individual Plan for doctors running businesses without employees.
Regardless of the subscription plan you choose from above, we’ll require you to fill up user-friendly and digestible forms that will immediately produce accurate and complete tax details, such as tax dues and income returns, using Anantaks’ proprietary backend computations.
Our system then generates completed tax forms and provides you with the option to file them immediately.
If you have employees, don’t worry as we’ve also created programs specifically for you.
For those running a small business but whose annual income does not exceed Php 3,000,000, we suggest you take on the Non-VAT Anantaks Outsourced Package as this connects you with a third-party accountant dedicated solely to providing you an efficient and accurate tax plan.
Our VAT-registered Anantaks Outsourced Package is also an option for small clinics with revenues exceeding Php 3,000,000 per annum.
We’ll be exploring how to file taxes for the different subscriptions in later sectionsStep 3.) Prepare and File Your Tax
It’s important to pick the right subscription plan depending on your qualifications. Although each subscription plan will fill up relatively similar forms, the backend computations will differ based on your chosen plan.
Fortunately, you don’t have to memorize nor remember any of them - Anantaks takes care of that for you.
If you subscribed to the “without employee” packages, for example, then you can simply fill up the tax information form with the necessary data. Head over to your cash flow statements, complete them with the correct details, and then click “submit” on your filing portal.
If you’re subscribed to the “with employee” packages, then you’ll be assigned a third-party accountant who’ll work with you to create complete documents ready for submission.Step 4.) Check Your Books Of Account
Finally, you can check your books of account by navigating to the “Books” menu on your dashboard. This allows you to generate your cash receipt journal, cash disbursement journal, general journal, and general ledger.
You may also peruse previous versions of your books should you ever need them.On Filing Taxes Online with Anantaks
Our main goal here in Anantaks is to provide convenience and clarity to your tax filing process. No matter where you are in your medical career, have peace of mind knowing that you’re taxes are handled for you so that you can continue to do what you do best.