How do I apply for business retirement?

How do you retire a sole proprietorship?

As a sole proprietor, you generally can choose between two kinds of tax-advantaged plans — the SEP IRA and the individual 401(k) — to save for retirement. If your goal is simplicity and ease of administration, the SEP (Simplified Employee Pension) may be the answer.

How do I retire a business in the Philippines?

Requirements for Closing a Business in the Philippines.

  1. a. Valid ID.
  2. b. Barangay Clearance.
  3. c. Letter of Request for Retirement/Closure of Business.
  4. a. Valid ID.
  5. b. Barangay Clearance.
  6. c. Barangay Certificate of Closure Indicating Date of Closure.
  7. d. Latest Business Permit.
  8. e.

How do I retire a business in Quezon City?


  1. Formal letter of intent to close business addressed to the City Treasurer’s Office copy furnished the Business Permits and Licensing Department.
  2. Original copies of Tax Bill and Official Receipts worth 3 years.
  3. Original copy of Latest Business Permit. …
  4. Valid ID (present original and submit photocopy)
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How do I close a business in Muntinlupa?

Required Documents[edit]

  1. Notarized Application Form.
  2. Notarized affidavit of Closure (for Single Proprietor) or Board Resolution Authorizing Closure (for Corporation)
  3. Original Mayor’s Permit Certificate.
  4. Original Billing Assessment and Quarterly Payment/s.
  5. Certification of Gross Sales (Notarized)
  6. Audited Financial Statement.

How do I write a letter of retirement to my employer?

Tips for Writing a Retirement Letter to Your Employer

  1. Give a date. Early in the letter, give a specific date for your retirement. …
  2. Mention your successes at the company. …
  3. Express gratitude. …
  4. Offer your services. …
  5. Send the letter to Human Resources. …
  6. Provide contact information.

Can you have a 401k as a sole proprietor?

A sole proprietor with no employees (other than her spouse) has the option of establishing a solo 401k plan (also known as an owner-only 401(k). … To learn more about the solo 401k CLICK HERE.

What are the requirements in closing business?

Certification from Barangay stating actual closure of business.

  • Letter Request stating reason for termination.
  • Original BIR Certificate of Registration.
  • Books of Account / Ask for Receipts Poster.
  • Inventory List of Unused Receipts / Invoices.
  • Unused Receipts / Invoices for Cancellation.

How do you legally close a business?

Steps to Take to Close Your Business

  1. File a Final Return and Related Forms.
  2. Take Care of Your Employees.
  3. Pay the Tax You Owe.
  4. Report Payments to Contract Workers.
  5. Cancel Your EIN and Close Your IRS Business Account.
  6. Keep Your Records.

Can I change business name in DTI?

You may email your concern to with your name, business name, correction and attached government ID for validation. If you will change information such as residence address, business address, or name and civil status, follow the process for Updating your Business Name Information.

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How much is the business permit fee in Quezon City?

TOTAL Php 1636.00 30 mins.

How much is barangay clearance for business?

As a standard procedure, you need to prepare the documents mentioned like the latest Community Tax Certificate and the DTI Business Name Registration. Payment for every barangay permit being applied for is approximately 500 pesos. The fee is not that same throughout the country as it can vary from place to place.

What is the procedure to get business permit in Quezon City?

All business permit applications forms have now been consolidated in one Unified Application Form for the convenience of applicants. Log on to and submit the accomplished form online together with the necessary supporting documents, depending on your application type.

How do I file a business closure in Bir?


  1. Letter of request for business closure.
  2. Original and photocopy of BIR form 2303.
  3. Book of accounts.
  4. List of inventory of unused receipts and invoices.
  5. All unused sales invoices and receipts.
  6. Latest ITRs last three years.
  7. BIR Form 1905.
  8. City hall certificate of closure.

How do you registered a company in Mandaluyong?

Business Licensing Requirements

  1. Completed Application Form.
  2. Original and Photocopy of the following: Barangay Clearance (Current Year) Zoning Clearance (except peddlers, businesses located in malls) Department of Trade and Industry (DTI) Registration for Single Proprietorship and Corporation using Trade Name;