Finances
The process of creating a financial plan for managing income, expenses, and savings over a specific period of time
What is budgeting?
The money or resources you can invest upfront, or need from others.
What is Capital Investment?
The tax paid by individuals and businesses earning income.
What is Income Tax?
Regular, unchanging costs, such as rent, mortgage payments, and utility bills.
What are fixed expenses?
The business structure where the owner has full control.
What is Sole Proprietorship?
The tax paid by non-VAT registered Businesses earning less than 3 million pesos.
What is Percentage Tax?
Costs that fluctuate, such as groceries, entertainment, or gas.
What are variable expenses?
The business structure where the capital comes from both owners.
What is Partnership?
The tax paid by individuals or entities giving donations.
What is Donor's Tax?
It involves setting aside a portion of your income for future use, either for emergencies or specific goals
What is saving?
The business structure wherein the company can have an unlimited number of shareholders who fully participate in the company's operations.
What is LLC (Limited Liability Company)?
The tax paid by legal heirs for the deceased person's estate?
What is Estate Tax?
It is the ability to borrow money or access goods and services with the understanding that you will pay back later, usually with interest.
What is credit?
The business structure wherein the company is controlled by the board of directors and stakeholders.
What is Corporation?
Online platform that allows taxpayers to file tax returns and pay taxes electronically for faster and more convenient transactions.
What is Electronic Filing and Payment System (eFPS)?