If you were once an employee, paying income tax was a relatively straightforward affair. The good folks in the finance department would have set things up for you, and all you had to do was verify the information, fill in the deductibles and you’re pretty much done. But as a business owner who is just starting out, there’s a high chance that you are your own finance department (Yes, we’ve been there too — high five!).
Here are some pointers to help you get your head around corporate income tax.
- Do I need to pay taxes as a new business owner?
- What are the deductibles that are available to me?
- Is it a must to employ a professional tax accountant to file my taxes?
- When I was an employee, my income was deducted monthly via the PCB scheme. Is the process the same for corporate income tax?
- What if my business is not profitable? Do I still need to pay taxes if I’m making a loss?
This post was originally posted on Pocketbook.io
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