LPCruz Accounting & Business Consultancy Office

04/07/2015

We make accounting easy! Let us handle your small business accounting and bookkeeping so you can focus on the other important things.
Services offered are:
1. Accounting and bookkeeping services
2. Tax compliance services (monthly, quarterly and annual BIR returns
3. AFS certification
4.Other financial and tax consulting services

Monthly retainer's fee starts at Php 3000 depending on the location and volume of transactions, type or business or additional services required.

25/03/2013

Do not miss the cut-off date April 15, 2013. Continually putting off one’s tax preparation may result in the failure to file the returns and pay the taxes due on time. The failure to file the tax return and pay the tax due on or before the deadline would result in a penalty of 25% of the tax due and, in addition, a 20% interest per annum on the tax due.

Use the correct forms. The new versions of income tax returns (ITR) are required to be used both for manual and electronic filing and payment system (eFPS). For corporations, the correct form is Bureau of Internal Revenue (BIR) Form 1702. For individuals engaged in business or those who are self-employed, the form to be used is BIR Form 1701. For individuals earning purely compensation income, use BIR Form 1700.

10/01/2013

29/06/2012

The Need of New Business for an Accountant?

The main focus of consulting with an Accountant when getting a new business underway is to help establish, right from the beginning, the company's tax structure and liability. Ongoing bookkeeping and payroll -- along with basic financial recording of revenue and expenses -- can be maintained by the business owner. However, an experienced financial expert will get you off to a safe start by informing you about tax laws and helping you set up a financial structure to make sure that your taxes are paid as you go.

The majority of new business owners will need the services of an Accountant or CPA. Many of them are reluctant to spend the money required for professional assistance and consultation. In some instances, however, professional help is nearly mandatory.

Some business establishments are facing closure including civil and criminal charges for neglecting or failure to file their tax on time including the financial reporting requirements by various government agencies. We cannot shield the ignorance of the law on those situations.

New businesses often require some time to become profitable. An experienced Accountant will help you calculate financial time-lines, with potential revenue and expenses, so that you can more accurately project your new company's need for up-front financial reserves.

You will also need an accountant if you have questions about what kinds of business expenses are deductible. A good accountant will always be on top of the changing laws and regulations and, more importantly, will know what applies to you.