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Taxation on MLM earnings

wannabewealthy · 18 · 4230

wannabewealthy

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on: Mar 26, 2014, 04:20 PM
Hi just got into this forum. so hindi ko alam kung meron na thread para dito pasenxza na pls. dont ban me.

im considering to get into the MLM biz however karamihan po sa mga tinatanung ko hindi po masagot ang tanong ko about tax.. ang tanong ko po ay.."kung ako ay full-tym empleyado, at balak ko gawing sideline ito for extra-income, ano po ba ang tax obligations ko?" takot ho kasi baka mamaya kasama na pala ako sa SHAME CAMPAIGN ng BIR kung sakaling sumali nga ako sa MLM. thanks!


iammarlo

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Reply #1 on: Mar 27, 2014, 02:25 PM
You can ask your HR. May dinadagdag sa form na additional income doon.

Pero pag maliit naman, non-taxable naman (don't quote me on this, ask
an accountant) ang commissions less than 60,000 a year.

Hi just got into this forum. so hindi ko alam kung meron na thread para dito pasenxza na pls. dont ban me.

im considering to get into the MLM biz however karamihan po sa mga tinatanung ko hindi po masagot ang tanong ko about tax.. ang tanong ko po ay.."kung ako ay full-tym empleyado, at balak ko gawing sideline ito for extra-income, ano po ba ang tax obligations ko?" takot ho kasi baka mamaya kasama na pala ako sa SHAME CAMPAIGN ng BIR kung sakaling sumali nga ako sa MLM. thanks!


wannabewealthy

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Reply #2 on: Mar 27, 2014, 04:49 PM
gathering enough usable and credible info from the websites of MLM companies, i found out that in their terms and conditions, the "MEMBER" so to speak is not treated as employee, investor, franchisee...etc...bottom line, its as if kapag nagpamember ka na bahala ka na sa buhay mo..kung makakasuhan ka ng tax evasion for your millions of earnings eh walang pananagutan si kumpanya.

meron din po ako nabasa na parang the member should be responsible for registering his business with SEC and even BIR i think..

paano po ba ang style? being a regular employee, should i request for such certifications and declare my MLM biz to be legit (in terms of taxes) aside from by usual ITR that i get from my employer? kumbaga separate ang tax forms ko for my biz from my usual 8-5 work.

i really wanna make millions hence the name. i think everyone ought to be rich ika nga sa libro ni Bo Sanchez but i dont want to do it in a manner that could endanger my integrity in the future. any info on this will really help! thanks!


george88

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Reply #3 on: Mar 27, 2014, 06:03 PM
Commision based so your taxation is like an agent type unless corporation kayo sa isang account


wannabewealthy

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Reply #4 on: Mar 28, 2014, 08:33 AM
ah so bali ung company na bahala magcompute and file for us ng taxes namin?


mjtfernandez

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Reply #5 on: Mar 28, 2014, 10:56 AM
Pare, you are considered as a free lancer and thus you are required to file the form 1701 annually and quarterly and pay your percentage taxes or vat.

You are to register to your nearest RDO and get your books of accounts. Print your receipts. Get your certificate of registration. In your Certificate of Registration all taxes applicable will be listed which will include the ones I listed above.

File your forms on time based on the tax calendar.

Pay your taxes....

Its just as easy as RFP... Register ... File ... and Pay ...

Please visit the BIR website www.knowyourtaxes.ph to know how to register, file and pay.


wannabewealthy

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Reply #6 on: Mar 28, 2014, 01:00 PM
ah ok freelancer that makes better sense thanks po. so ibig sabihin i can be a regular employee for 5 days/week and a freelancer naman on the weekend. ung tax computations ko from my employer are separate from the 1701 that I should get po ba? so ang mangyari po ba nito i am taxed on my gross compensation from my regular work and will also be separately taxed from my freelance work tama po ba? sorry po daming tanong gusto ko lang po talga malaman thanks!


george88

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Reply #7 on: Mar 28, 2014, 02:21 PM
Hehe kung hindi naman sobrang laki ang kinikita mo sa sideline kahit di ka na magfile ng tax unless more than quarter million ka na to millions like mjtfernandez  :hihi: kung mabuting mamamayan nasa sayo na yan paliitin mo na lang kasi sa JLN foundation naman mapupunta yan unless si Duterte na presidente natin  :watchuthink: kapag kailangan mo ng accountant meron ako dito sa tabi ko puro CPA itong mga ito hehe...


wannabewealthy

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Reply #8 on: Mar 29, 2014, 01:38 PM
ahahah JLN foundation tomooo! :rakenrol:

yeah im really considering to make millions out of MLM. ive done the math and it seems to ring true to me. i think MLM may be a viable source of great income kaya naman ayaw ko naman ako bglang katukin ng BIR pag lumaki na at gumanda na buhay ko.

another question. for example naka register na ako as freelancer sa BIR, kapag ba meron pa akong ibang personal and professional ventures, or easily put meron pa akong ibang gagawin to earn income like exercise a profession, pasok na din po ba iyon sa freelance work o iba pa uli ung sa practice of profession?


waydske

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Reply #9 on: Mar 29, 2014, 04:16 PM
baka inde alam noong iba na taxable pala income sa mlm pagmalakihan na. Lagot ung mga pinapakita ung earnings nila na cash, H&L at mga sports car. hala lagot....


wannabewealthy

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Reply #10 on: Apr 01, 2014, 01:48 PM
aun na nga po eh I really plan to make millions pero ayaw ko naman na bigla na lang ako habulin ng BIR


wannabewealthy

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Reply #11 on: Apr 03, 2014, 01:37 PM
may mga MLM na nagiisue ng check for whatever you have made.. being a BIR-registered freelancer, does it mean to say na dapat issue-han ko ang company ng resibo because i am getting paid or receiving income (in this case commission) from them?


Rtter

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Reply #12 on: Nov 03, 2014, 10:52 AM
Hindi ba kayo nagtataka kung bakit walang nakakasagot na MLM member sa tanong ni TS? :)

If you're a member of a MLM company, just like any other business you're required to register to DTI (if individual) or SEC (for partnership/corp) and to the BIR. Sa BIR, you also need to register you're books of account and official receipts. You also need to file a monthly percentage tax return or VAT returns, quarterly VAT and income tax returns, and yung annual na ITR.
« Last Edit: Nov 03, 2014, 11:02 AM by Rtter »


VeneurlArgent

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Reply #13 on: Nov 03, 2014, 12:25 PM
Hindi ata sila nagtatax. Ganun sila ka PABIGAT sa Bayan at sa mga Taong Bayan na tumatangkilik sa kanilang producto


george88

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Reply #14 on: Nov 03, 2014, 11:13 PM
Magkano ba ang TAX kung ikaw ay kumita na ng 1M as distributor ng isang MLM? Asife from the 10% na tax na kaltas sa commission mo?Siguro ang akala nung iba dahil bawas na ng TAX ang commission no need na magfile ng TAX


 


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