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Common Mistakes SMEs Make When Analysing FinancialStatements and How to Fix Them For SMEs in Singapore, analysing financialstatements is a crucial but often daunting task. Mistake: Waiting until tax season to review financialstatements can be risky, as trends or issues may go unnoticed until its too late.
Bookkeeping Typically charged monthly or quarterly, bookkeeping services involve recording daily transactions, reconciling bank statements, and maintaining ledgers. Regulatory Requirements Some businesses, especially those near audit thresholds, need additional financialstatements or management reports, which can also affect pricing.
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 corporatetax filing experience. To stay ahead and prevent potential issues, accurate record-keeping is crucial.
Corporatetax deadlines are a little different than personal tax deadlines. For tax purposes, corporations can have year-ends that are not December 31st. Corporatetax return filings are due 6 months after the year-end For eg, a December 31, 2022 year-end would have a June 30, 2023, due date.
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