MGN Tax and Accounting Services

Happy 3rd Work Anniversary! 🎉💙

Thank you for your hard work, dedication, and commitment to the team. We truly appreciate everything you do and the value you bring to the company. Here’s to more years of growth, success, and achievements together!

Keep up the great work! 🥂✨
Nialyn Evora

MGN MANAGEMENT INC. | STAY SAFE

🌧️ WEATHER SAFETY REMINDER

With the continued Southwest Monsoon (Habagat) bringing rains to our area, we encourage everyone to please take extra care.

☔ Stay indoors when conditions become unsafe
🚗 Avoid flooded roads and unnecessary travel
⚡ Stay away from rivers, slopes, and areas prone to flooding or landslides
📱 Keep updated with official weather and local advisories

Most importantly, your safety comes first. 💙

Please take care of yourselves and your loved ones.
Stay safe. Stay alert. Stay dry. 🙏

— MGN Management Inc.
*Your Numbers. Our Expertise. Your Success.*

🧐 MGN KNOWS | BUSINESS TIP

📦 WHY IS INVENTORY MANAGEMENT IMPORTANT?

Inventory is more than just the products you have in your store—it’s also money invested in your business.

Too much inventory can:
• Tie up your cash
• Increase storage costs
• Lead to damaged, expired, or outdated products
• Hide slow-moving items

Too little inventory can:
• Cause stockouts
• Lead to missed sales
• Affect customer satisfaction

💡 MGN TIP: Regularly monitor your stock levels, sales trends, fast- and slow-moving products, and inventory value.

Good inventory management helps you maintain the right balance between having enough products to sell and keeping enough cash available to operate your business.

Know your inventory. Know your cash. Know your business. 💙

💡MGN KNOWS | ACCOUNTING TRIVIA

Did you know?
The word “accounting” has been used for centuries, but modern double-entry bookkeeping was famously documented by Luca Pacioli in 1494.

The basic idea is still used today:
Every transaction affects at least two accounts.
That’s why in accounting, DEBITS and CREDITS must stay balanced. ⚖️

💡 MGN KNOWS: Good accounting is built on balance, accuracy, and reliable records.
Know your numbers. Make better decisions. 💙

💡MGN KNOWS | GHOST MONTH TRIVIA 👻

Did you know?

Ghost Month is traditionally observed during the 7th lunar month.
In 2026, it runs around August 13 to September 10/11, with the Hungry Ghost Festival on August 27.

👻 It is a time traditionally associated with remembering ancestors, making offerings, and showing respect to wandering spirits.

💡 MGN KNOWS:
Traditions may differ among families and communities, but the heart of the observance is remembrance, respect, and generosity. 💙
Know the tradition. Respect the culture.

📚 MGN KNOWS | BUSINESS TIP

❓ What happens if I stop operating but don’t close my BIR registration?
Stopping your business does not automatically close your BIR registration.
If you stop operating but do not complete the BIR closure/cancellation process, you may continue to be liable for applicable tax returns, payments, and penalties until the registration is officially closed.

⚠️ Possible consequences:

1.Accumulating open cases
2.Potential penalties for missed filings/payments
3.Difficulty obtaining a Tax Clearance
4.Continued BIR compliance obligations
5.Additional work and documentation when eventually closing the business

The BIR's current closure process checks for open cases and tax liabilities before issuing the Tax Clearance.

💡 MGN TIP:
Stopped operating? Don’t just walk away from your registration. Properly close your business with the BIR.

Close properly. Stay compliant. Avoid unnecessary headaches. 💙

Advisory: eBIRForms is now restored. You may now try to send your tax returns.

🚨 BIR UPDATE | RMC No. 095-2026 ‼️

The BIR extends the deadline for affected taxpayers until August 18, 2026, without penalties, due to the eBIRForms Offline Package unavailability and other covered circumstances.

📌 Check if your filing is covered.

📚 MGN KNOWS

❓ What business expenses can I claim?

Generally, expenses should be ordinary, necessary, properly documented, and related to your business. 🧾📊

💡 MGN TIP:
Keep your receipts, invoices, and supporting documents. Good records make it easier to properly account for your expenses and comply with tax requirements.

Keep your records. Know your numbers. Grow your business. 💙