Why do such audits even exist in the first place? It happens because of problems on your end. Everything from questionable financial reports and the like can force third parties to audit your company to ensure you are not hiding anything. For instance, they will check whether what’s recorded in the balance sheets is actually […]
Tax deductions are very helpful resources at the end of the taxable year. To get the correct amount for claiming, it’s important to keep an accurate record of your books. Good record-keeping is important anyway to make sure you are abiding by the proper regulations. If you don’t properly calculate your deductions, you essentially lose […]
Taxes are nothing to be excited about, and for many people, it is nothing but a hassle. Plus, it is an activity where individuals lose money, so it isn’t something people look forward to. However, what is to be excited about is the many ways one can reduce the taxes one has to pay overall. […]
All company directors will now be required to apply for a director identification number (DIN) by 30 November 2022. The main purpose of DIN is to trace or identify the director’s history or director’s relationship across different companies. This legislation will help the regulators investigate for any unlawful activity, particularly the phoenix activities, to promote […]
Many companies believe that they are alright without hiring an accountant by their side, that they can manage their finances without the help of a professional. While this is possible for small companies, the larger the company gets, the more they realise that staying on top of finances while managing other business functions is increasingly […]
While we often take it for granted, taxes are incredibly important. This is why you’ll want to invest an ample amount of time to make sure that you get everything right. Failing to be thorough when it comes to taxes will surely lead to you losing a significant chunk of money. When it comes to […]
All business owners can agree that their company’s finances are one of the most important operations that help keep their business running. With that being said, dealing with finances can be incredibly challenging but still necessary to ensure you provide an accurate record of your financial health—that’s where an audited financial report comes in. An […]
Paying taxes is an activity that any law-abiding citizen must do. By paying taxes, there are times when you get a tax refund. As the name suggests, a tax refund is an excess of taxes that are given back to the taxpayer. Most people would agree that a tax refund is a lifesaver. This is […]
Even if the room is not set aside purely for work-related purposes, you may be able to claim a tax deduction for the costs of running your home office, provided you did some of your work from it in the previous financial year. These critical tax deductions typically cover the expenditures of working from home […]