My mother slowly turned our over size house into apartment units - and commercial units. We live on a major avenue so there are a lot of commercial traffic in front of the house. She did not do this in one construction frenzy but stretched it out for several years. Finishing some sections first and then leasing it. So some money is coming in as rental income and we did not get buried in debt while we essentially build a new house. Yes we are still living in the property while all these are happening. Somehow we managed.
January of every year is business license renewal. Local and National taxes for businesses are paid. Shops and offices are inspected or readied for inspection by the municipal engineers and the fire department and if your business is food then your place is visited by the sanitary department. It used to have a dead line around the 20th. The municipal government passed a resolution extending the period of licensing up to March 31st. They also waived penalties this year for late payments.
Our DTI name expires this year. Renewal requires my mother's identification cards, tax number and a payment of 230 php. Our DTI name is our trade name - Erlinda Apartments. It's my mother's name and the nature of the business. Nothing that grabs you. It's business. What do you expect?
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