CapActix

FEBRUARY 27, 2025

Make sure the EIN or SSN you use on your business tax return online matches the one on your previous filings. Incorrect tax ID numbers can lead to a rejected return or IRS notices. Financial Records Your financial records are the backbone of your tax filing.

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Tax CPA Financial Records Auditing 52

Counto

NOVEMBER 10, 2024

Strategic planning for growth : Financial guidance can help you plan for expansion and handle the financial challenges of scaling up your business. Example : A restaurant hires an accountant to manage its financial records, ensuring timely tax filings and maximising available tax credits, ultimately improving profitability.

Budgeting 40

Budgeting Payroll Tax Corporation Tax 40

Counto

OCTOBER 3, 2024

Here are some strategies for leveraging working loans effectively while considering corporate tax implications. Invoice Financing: This enables businesses to borrow against unpaid invoices, improving immediate cash flow without waiting for customer payments, thus avoiding potential tax liabilities from delayed cash inflows.

Corporation Tax 52

Corporation Tax Tax Financial Statements Financial Records 52

Counto

MARCH 19, 2024

Tax Deadlines Resident sole proprietors generally need to file their personal income tax returns by April 15th each year. Non-residents have varying deadlines based on their tax residency status. Record Keeping Maintain meticulous financial records, including income statements, receipts, invoices, and expense records.

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Record Keeping Financial Records Accruals Corporation Tax 52

Counto

JANUARY 21, 2025

Filing Corporate Income Tax Returns (Form C-S/C) e-Filing Deadline: 30 November 2025 All companies, even those that are dormant, are required to submit their corporate tax returns. To streamline the process, ensure your financial statements and any supporting documents are organised early.

Tax 52

Tax Corporation Tax Financial Statements Financial Records 52

Counto

JANUARY 7, 2025

Changes to Corporate Tax Rates Adjustments to corporate tax rates may be introduced in 2025 as part of government measures to promote economic growth and address fiscal needs. What to Expect: Possible changes to existing tax incentives. Higher accountability for financial reporting.

Corporation Tax 52

Corporation Tax Payroll Financial Reporting Collections 52

Counto

OCTOBER 3, 2024

Prioritise Compliance and Record-Keeping Proper record-keeping is fundamental for meeting regulatory requirements and preparing for audits. Maintain Detailed Financial Records Every transaction, whether a sale or an expense, should be accurately documented.

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Record Keeping Accounting Accounting Auditing 52

Counto

MARCH 23, 2025

Centralised Financial Management A single platform for accounting, tax, and secretarial tasks brings all your financial data into one accessible place, simplifying management and providing clarity. Real-time Visibility Gain immediate insight into your financial health with real-time dashboards, enabling better decision-making.

Tax 40

Tax Accounting Accounting Data Entry 40

Counto

NOVEMBER 7, 2024

Example : A café upgrading its kitchen equipment can benefit from accelerated depreciation, lowering its taxable income and reducing its corporate tax liability. Financial Statements : F&B businesses are required to prepare financial statements in accordance with Singapore Financial Reporting Standards (SFRS).

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Tax Financial Statements Financial Reporting Record Keeping 40

Counto

SEPTEMBER 20, 2024

Real-Time Monitoring: Automation provides real-time insights into GST liabilities and overall financial health. Regularly Update Financial Records Avoiding Last-Minute Hassles: Keeping records current ensures accurate GST filings and prevents last-minute complications.

Bookkeeping 52

Bookkeeping Accounting Software Corporation Tax Tax 52

Counto

SEPTEMBER 12, 2024

Gain Insight: Choose software that provides detailed tracking of income, expenses, and overall financial performance to maintain a clear view of your business’s financial health. This practice simplifies financial management and prevents confusion. Work with an Experienced Bookkeeper 5.1

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Deposits Budgeting Accounting Accounting 52

Counto

SEPTEMBER 17, 2024

Each refund is recorded with details about the original purchase and the reason for return, ensuring accurate financial records and inventory updates. Counto’s all-inclusive accounting plans for online sellers feature multicurrency support, unlimited transactions, GST submissions, and tax filing—with no hidden fees.

Accounting 52

Accounting Accounting Record Keeping Corporation Tax 52

Counto

JUNE 13, 2023

In this article, let us examine potential reasons why your business tax return may attract attention and provide valuable insights on avoiding them, ensuring a smooth and trouble-free corporate tax filing experience.

Tax 52

Tax Financial Statements Reconciling Record Keeping 52

Counto

JANUARY 8, 2024

Pte Ltd: Private Limited Companies face more stringent compliance requirements, such as maintaining proper financial records, filing annual returns, and holding annual general meetings. Taxation Sole Proprietorship: Sole proprietors are taxed at their personal income tax rates, based on the business’s profits.

Corporation Tax 52

Corporation Tax Tax Financial Records Accounting 52

Counto

NOVEMBER 27, 2024

Key tax considerations: GST Registration: Required if your business turnover exceeds S$1 million annually. Corporate Tax: Franchises in Singapore are subject to corporate tax at a rate of 17%.

Corporation Tax 40

Corporation Tax Tax Financial Records Bookkeeping 40

Counto

OCTOBER 8, 2024

AI-Powered Insights: Using advanced technology, we analyse financial data in real-time, delivering actionable recommendations. Streamlined Payment Processes: Automated systems categorise invoices and sync with financial records, reducing manual workload and ensuring timely vendor payments.

Financial Reporting 52

Financial Reporting Tax Payroll Corporation Tax 52

Counto

FEBRUARY 13, 2024

Appointment of company secretary Engagement of an auditor Maintenance of a registered office Maintenance of company registers and financial records. When the company resumes activities, it must begin submitting financial statements and adhere to filing Annual Returns and Corporate Tax Returns as an active entity.

Financial Statements 52

Financial Statements Corporation Tax Financial Records Tax 52

Counto

SEPTEMBER 7, 2024

Fieldwork: The auditor reviews your financial records, such as invoices and bank statements, and interviews key personnel. Review and Testing: The auditor tests your financial data for inconsistencies or errors. Planning the Audit: The auditor reviews your business, risks, and audit scope.

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Auditing Financial Statements Tax Budgeting 52

AvidXchange

MARCH 22, 2024

These include: • Month- and year-end closes • Audit and tax season • Budgeting season • Holidays and personal time off (PTO) During these periods, time management tips for accounting and finance professionals are especially important. Knowledge of these changes can result in significant cost-saving opportunities.

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Accounting Accounting AP Budgeting 52

LedgerDocs

FEBRUARY 25, 2025

Tax season 2025 is fast approaching, and for bookkeepers and accountants, staying on top of the important corporate tax deadlines is the key to completing smooth filings for their clients. Canadian-Controlled Private Corporations (CCPCs) that meet specific criteria may have three months to pay taxes owing for the year.

Corporation Tax 52

Corporation Tax Tax Payroll Collections 52

Billah and Associates

JANUARY 8, 2019

Tax audit for businesses A corporate tax audit is an efficient and effective mode of scrutiny, especially when done by a primary corporate tax accountant. The process of Corporate Tax Audit – an Overview The process of preparation for corporate tax audit begins when you prepare the T2 or other returns.

Corporation Tax 52

Corporation Tax Auditing Tax Financial Statements 52

Counto

MARCH 9, 2025

Overlooking Tax Obligations and Financial Management Another common mistake is failing to prioritise tax obligations and sound financial management. This can cause problems down the line, particularly when it comes to meeting Annual Returns, Goods and Services Tax (GST) requirements, or handling corporate taxes.

Corporation Tax 52

Corporation Tax Financial Records Tax Budgeting 52

Counto

JANUARY 13, 2025

Under Singapore’s tax laws, businesses can claim a tax deduction of up to 2.5 To fully benefit from these incentives and ensure your financial records remain accurate, it is crucial to record charity donations in your bookkeeping system properly.

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Bookkeeping Financial Statements Tax Record Keeping 52