taxes, please help me understand

[smartmart]

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Hi everyone.. naa ko small business that has started early this year. and now, ga libog ko sa form nga 1701Q. it says in the form, nga mag deadline on the following dates:


1st quarter: april 15

2nd: aug 15

3rd: nov 15

nag assume ko nga ang april 15 payment xa sa months of jan, feb and march

then ang august 15 kay for the months of april, may and june

then ang nov 15, aug, sept and october

karon, asa naman diay akong july ug ang nov and december nga month asa man xa sulod

hala, lamdagi intawn ninyo akong utok...

daghan salamat kaayo..

[jackdi]

As far as i know, 1702Q is to be filed within 60days from the end of each quarter.

So, kung calendar year imo gamit (Jan-Dec), then:
First Quarter is to be filed on or before End of May
Second quarter to be filed on or before end of Aug
Third quarter to be filed on or before end of Nov.
Then ang final income tax to be filed after the end of business cycle on or before April 15

Jul-Aug-Sep are for the 3rd Quater, to be filed on or before Nov.
Ang Oct-Nov-Dec adto na sa final tax filing on or before Apr 15.


If im wrong, pls correct me.

[smartmart]

jackdi, thanks kaayo sa reply.. it does make sense! so, by april 15, mahulog diay nga 2 taxes ang bayran noh? 1701 for annual and the 1701Q for the 1st quarter?

OK nako ani nga reply.. thanks again

[jojo_mouth]

Refer nalang pud sa imong Book keeper ma'am para segurado ka.

[smartmart]

@jojo_mouth: thanks for keeping my thread alive.. ahm, wala man ko nag book keeper kay very small business paman gud and i also want to experience and know unsa gyud ning mga tax tax para maka hibaw unta ko sa pasikot sikot... hehehe!

[arnz11277]

bro, the april 15 is the deadline of your prior year annual ITR (1701) and 1st quarter ITR (Jan., Feb and March). August 15 is the deadline of your 2nd quarter ITR (April, May and June) and Nov. 15 is the deadline of your 3rd quarter ITR (July, August, Sept).

In sum, your 1st quarter ITR is due 15 days after the close of the 1st quarter while your 2nd and 3rd quarters are due 45 days after the close of the quarter. and your annual ITR is due on April 15.

Hope this helps.