LedgerDocs

APRIL 6, 2023

It can save you a significant amount of money, help you avoid tax penalties, and keep you compliant with the law. In this blog, we’ll discuss some essential tax planning tips for small business owners. Keep Accurate Records: Keeping accurate records is crucial for small business owners.

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Outsourced Bookeeping

FEBRUARY 15, 2024

Sole proprietors report business income on their tax returns, while corporations face a separate corporate tax structure. LLCs and partnerships, on the other hand, typically pass-through income to the owners’ personal tax returns.

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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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Counto

SEPTEMBER 16, 2024

Choosing the Right Business Structure Impact: Opting for a private limited company can provide benefits such as lower tax rates and access to various incentives compared to sole proprietorships or partnerships. Effective Tax Planning Incentives: Take advantage of tax incentives to optimise your tax liabilities.

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Record Keeping Corporation Tax Tax Bookkeeping 52

Counto

OCTOBER 7, 2024

Maintain Detailed Records Keeping organised records is crucial for claiming ITCs: Retain all pertinent documents, such as invoices and receipts. Maintain records for a minimum of five years, as they may be needed for audits. Easily generate tax invoices. Facilitate the claims process to save time and reduce errors.

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Analytix Finance & Accounting

NOVEMBER 30, 2023

Each partner reports their share of profits and losses on their personal tax return. Partnerships require careful record-keeping and coordination among partners to manage tax liabilities effectively. Partners are personally liable for the partnership’s tax obligations. The corporate tax rate is different.

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Tax Corporation Tax Record Keeping Accounting 52

Counto

SEPTEMBER 20, 2024

Get accounting plans that combine bookkeeping with corporate tax filing to help you stay compliant at an affordable price. To learn more, s peak to us directly on our chatbot, email hello@mycounto.com, or use our contact form to get started.

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Corporation Tax Record Keeping Tax Bookkeeping 52

Counto

FEBRUARY 7, 2024

Here are some articles you might find helpful: GST registration guide Corporate tax filing Record keeping requirements The post Do I Need to Register for GST in Singapore? Speak to us directly on our chatbot, email us at hello@mycounto.com, or contact us using this form.

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Record Keeping Corporation Tax Auditing Tax 52

Counto

OCTOBER 3, 2024

Maintaining Compliance with GST Regulations Record keeping: Ensure export permits and invoices are in place. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs.

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Record Keeping Corporation Tax Auditing Invoicing 52

Counto

NOVEMBER 7, 2024

Your business collects GST on sales and can claim back input tax on business-related purchases, reducing the GST payable. Accurate record-keeping is crucial to ensure compliance with GST regulations. Get accounting plans that combine bookkeeping with corporate tax filing to help you stay compliant at an affordable price.

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Counto

OCTOBER 16, 2024

Example: Accurate BOI records can clarify ownership and control, facilitating swift resolution when conflicts arise among stakeholders. Implications for Tax Responsibilities Beneficial Ownership Requirements can significantly impact corporate tax responsibilities.

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Auditing Record Keeping Corporation Tax Tax 52

Counto

SEPTEMBER 28, 2024

Example: A company that deferred a claim on a low-value asset last year can still write it off in the current year if it meets the eligibility criteria, ensuring they don’t miss out on potential tax benefits. Record-Keeping Maintain comprehensive records, including: Invoices: Clearly document all asset purchases.

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Computation Tax Record Keeping Corporation Tax 52

Counto

SEPTEMBER 17, 2024

Document Refund Transactions Accurate Record-Keeping: Keep detailed records of all refunds, including the original sale details, the reason for the return, and the refund amount. Get accounting plans that combine bookkeeping with corporate tax filing to help you stay compliant at an affordable price.

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Accounting Accounting Record Keeping Corporation Tax 52

Accounting Tools

SEPTEMBER 2, 2023

Related Courses S Corporation Tax Guide Types of Business Entities What is an S Corporation? An S corporation is a corporate entity that passes its income through to its owners, so that the entity itself does not pay income taxes. Record keeping. Tax-free fringe benefits.

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Corporation Tax Payroll Tax Record Keeping 40

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. To stay ahead and prevent potential issues, accurate record-keeping is crucial.

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Billah and Associates

MARCH 18, 2018

After all, it just involves keeping a record of all the employees and their details such as their salaries, overtime hours, deductions, bonuses, holiday pay, taxes, etc. But payrolling doesn’t just involve keeping records. Ensuring compliance takes a lot of time, documentation, and expertise.

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Counto

APRIL 14, 2023

Thus, having your records organised and easily accessible can save you time and potentially avoid additional penalties or fines. So, make sure you are keeping accurate records and complying with the IRAS requirements to avoid any potential legal trouble. This is where Counto’s tax filing services in Singapore come into play.

Tax 52

Tax Record Keeping Corporation Tax Auditing 52

Counto

APRIL 14, 2023

Thus, having your records organised and easily accessible can save you time and potentially avoid additional penalties or fines. So, make sure you are keeping accurate records and complying with the IRAS requirements to avoid any potential legal trouble. This is where Counto’s tax filing services in Singapore come into play.

Tax 52

Tax Record Keeping Corporation Tax Auditing 52

Counto

SEPTEMBER 7, 2024

Consider the following tips: Maintain Organised Records: Keep your financial documents, such as invoices and bank statements, well-organised and up to date. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs.

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Auditing Financial Statements Tax Budgeting 52

Counto

JANUARY 13, 2025

Here are some articles you might find helpful: GST registration guide Corporate tax filing Record keeping requirements The post Recording Charity Donations in Bookkeeping for Small Businesses in Singapore appeared first on Welcome to Counto Singapore.

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