The BIR has actually released a system called eFPS or e-Filing and Payment System that pretty much automates this for you, but in case you aren’t able to enroll or you prefer to do your own taxes, the slideshow below should give you a visual presentation of how to compute for your income tax returns.
Freelancer Mark Joseph actually emailed the sample scenario to me, after which I traced the original source to a Work & Money thread at FemaleNetwork.com. Many thanks to freelancer_babe for providing a clear example of how to compute for ITR and to Mark for sharing this with me.
I hope you’ll find the slideshow useful and a resource to go back to when computing for your ITR. If you have specific questions about filing for your taxes, it’s always best to ask a BIR officer-of-the-day at your nearest RDO.