Insightful Accountant

FEBRUARY 16, 2024

Financial Cents is excited to announce the release of the 2024 State of Accounting Workflow Automation Report. This second edition study explores the experiences and challenges faced by accounting, bookkeeping, and tax firm owners.

Account Bookkeeping 111

Account Bookkeeping Accounting Accounting Bookkeeping 111

Counto

FEBRUARY 5, 2024

In cases where goods were supplied and delivered before the GST rate change and are returned 2 to 3 years later, the GST adjustments should be made based on the rate originally charged and accounted for. You should calculate the deemed output tax on the gift at the rate of 9% since it is being given away on or after January 1, 2024.

Invoicing 98

Invoicing Tax Payroll Collections 98

Outsourced Bookeeping

FEBRUARY 15, 2024

For both business owners and Certified Public Accountants (CPAs) in the United States, the annual tax return season is a critical and challenging period. Business owners must comprehend the intricate details of tax obligations to ensure compliance with the ever-evolving tax code and optimize financial outcomes.

Tax 59

Tax Outsourced Bookkeeping Record Keeping CPA 59

Ace Cloud Hosting

FEBRUARY 4, 2024

Doing taxes can be really tough for CPA and accounting professionals during tax seasons. Some people still use old-fashioned tax software that. Piles of confusing papers and problems works together.

Tax 86

Tax CPA Accounting Accounting 86

Nolan Accounting Center

FEBRUARY 15, 2024

As renowned investor Warren Buffet has stated, “Accounting is the language of business.” What is the Accounting Equation The accounting equation is simply that a company’s assets are equal to the sum of its liabilities (including contingent liabilities) plus shareholders’ equity. Government policy changes.

Financial Statements 88

Financial Statements Tax Payroll Accounts Receivable 88

Counto

FEBRUARY 8, 2024

Renowned for its strategic location, business-friendly policies, and robust legal and tax frameworks, Singapore continues to attract ventures of all sizes. To start, foreign entrepreneurs need to submit the company registration form and relevant documents to the Accounting and Corporate Regulatory Authority of Singapore (ACRA).

Corporation Tax 98

Corporation Tax Tax Accounting Accounting 98

Insightful Accountant

FEBRUARY 25, 2024

It’s that time of year when business owners get anxious and accountants get busy. We’re all preparing for March’s tax season!

Tax 105

Tax Accounting Accounting 105

Ace Cloud Hosting

FEBRUARY 20, 2024

ATX professional tax software is an advanced tax preparation software best suited for SMBs, CPAs, and freelance accountants that files simple to complex returns. The software offers many features, such.

Tax 81

Tax Accounting Accounting 81

Cloud Accounting Podcast

FEBRUARY 21, 2024

Blake and David break down the IRS's $99 million paper-check limit, how states use tax credits to attract movie productions (sometimes unsuccessfully) and give their take on actor Kenan Thompson losing $1.5 Disgusting Accounting Trick May Find an Opponent in the U.S. million to fraud as a child.

CPA 60

CPA Tax QuickBooks Accounting 60

Insightful Accountant

FEBRUARY 25, 2024

It’s that time of year when business owners get anxious and accountants get busy. We’re all preparing for March’s tax season!

Tax 97

Tax Accounting Accounting 97

Counto

FEBRUARY 7, 2024

Corporate Tax Filing in Singapore: A 2024 Guide for Businesses If you’re a business operating in Singapore, understanding the intricacies of corporate tax filing is essential to maintain legal compliance and financial stability. Corporate income in Singapore is taxed at a flat rate of 17 percent. Did you know?

Corporation Tax 52

Corporation Tax Tax Data Entry Accounting Software 52

Counto

FEBRUARY 17, 2024

This includes a 50% corporate income tax rebate, with a cap of SG$40,000, and a minimum of S$2,000 in cash payouts for companies that hired local employees in 2023. Additionally, financial aid and property-related tax adjustments aim to alleviate cost-of-living concerns and support ageing Singaporeans.

Budgeting 75

Budgeting Computation Payroll Tax 75

Counto

FEBRUARY 24, 2024

Understanding IRAS: A Guide for SMEs and Business Owners The Inland Revenue Authority of Singapore (IRAS) stands as the country’s foremost agency responsible for tax administration. Its origins trace back to the establishment of the Singapore Income Tax Department in 1947, with the actual assessment of taxes commencing in November 1948.

Collections 52

Collections Tax Financial Reporting Accounting 52

Outsourced Bookeeping

FEBRUARY 11, 2024

The financial industry is undergoing a seismic shift, and at the forefront of this transformation are Certified Public Accountants (CPAs) and accountants. Automated systems play a crucial role in maintaining compliance with evolving tax laws, and guaranteeing precise and timely filings.

Outsourced Bookkeeping 59

Outsourced Bookkeeping Bookkeeping Accounting Accounting 59

Counto

FEBRUARY 8, 2024

Mark Your Calendar: 2024 Tax Deadlines for Singapore Businesses As we step into 2024, it’s good practice to mark your calendar for the year’s compliance deadlines. Goods and Services Tax (GST) Returns: For GST-registered companies, filing and payment are due within one month after the end of each accounting period.

Tax 52

Tax Corporation Tax Financial Statements Financial Reporting 52

CSI Accounting & Payroll

FEBRUARY 15, 2024

If you asked a room full of small business owners to raise their hands if they like paying business taxes, you’re probably not going to see very many hands. However, even if you legally didn’t owe any taxes, there are still a few issues. Have you ever thought about how getting your tax liability to zero could hurt your business?

Tax 52

Tax Payroll Accounting Accounting 52

Counto

FEBRUARY 7, 2024

As a business owner in Singapore, understanding the ins and outs of Goods and Services Tax (GST) registration is crucial. Here’s a quick rundown: Output Tax: Registered businesses must charge GST on goods and services sold locally, known as Output Tax. Discover a smarter way to outsource your accounting with confidence.

Corporation Tax 52

Corporation Tax Record Keeping Tax Auditing 52

Counto

FEBRUARY 4, 2024

Business Expenses and Tax Deductions for Singapore Companies Running a business in Singapore involves various expenses, from daily operational expenses to capital investments. Understanding which of these expenses are tax-deductible can significantly impact your business’s financial health. What Are Business Expenses?

Tax 52

Tax Payroll Accounting Accounting 52

Remote Quality Bookkeeping

FEBRUARY 23, 2024

They also prepare your books before tax season so all accounts are handed to the accountant who will file them. They will also let you know about taxation trends and how you can benefit from new legislation, such as President Biden’s tax plan.

Bookkeeping 52

Bookkeeping Bank Reconciliation Outsourced Bookkeeping Certified Bookkeeper 52

CSI Accounting & Payroll

FEBRUARY 24, 2024

With tax time approaching, most small business owners want to legally minimize what they might owe on their taxes. There are lots of tax strategies that can help with this, but purchasing much-needed new equipment is one of our favorites! If you do this, what is the best method to deduct the equipment?

Payroll 52

Payroll Tax Accounting Accounting 52

Counto

FEBRUARY 6, 2024

On 1 January 2024, Singapore increased its Goods and Services Tax (GST) from 8% to 9%. Automation of Tax Processes With a higher GST rate come stricter compliance requirements and penalties for non-compliance. To avoid costly errors and penalties, businesses should consider automating their tax processes.

Tax 52

Tax Financial Operations Financial Operations Accounting 52

Counto

FEBRUARY 13, 2024

Key Things Dormant Companies Need to Be Aware of When your Singapore company enters a dormant state, indicating no significant accounting transactions during the financial year, there are essential steps to heed to comply with regulations set by the Accounting and Corporate Regulatory Authority (ACRA).

Tax 52

Tax Invoicing Accounting Accounting 52

Counto

FEBRUARY 18, 2024

What’s the Difference Between Bookkeepers and Accountants? In the realm of business finance, distinguishing between bookkeepers and accountants is essential. The Role of an Accountant Tasks: Prepares adjusting entries. Offer specialised expertise in tax codes, financial analysis, and strategic planning.

Bookkeeping 52

Bookkeeping Financial Analysis Financial Records Accounting 52

Accounting Tools

FEBRUARY 15, 2024

From an accounting perspective, the total cost concept is more applicable to financial reporting, where overhead costs must be assigned to certain assets. Total Cost for Cost Accounting Total cost refers to the aggregation of all types of costs related to a cost object , which means fixed costs , variable costs, and mixed costs.

Cost Accounting 72

Cost Accounting Financial Reporting Budgeting Tax 72

Counto

FEBRUARY 17, 2024

Called the Enterprise Support Package (ESP), it encompasses three key elements: a corporate income tax rebate, improvements to the Enterprise Financing Scheme (EFS), and an extension of the SkillsFuture Enterprise Credit. Try Counto accounting Counto exists to help small businesses like you save time and money throughout the year.

Budgeting 52

Budgeting Tax Accounting Accounting 52

Counto

FEBRUARY 17, 2024

Called the Enterprise Support Package (ESP), it encompasses three key elements: a corporate income tax rebate, improvements to the Enterprise Financing Scheme (EFS), and an extension of the SkillsFuture Enterprise Credit. Try Counto accounting Counto exists to help small businesses like you save time and money throughout the year.

Budgeting 52

Budgeting Tax Accounting Accounting 52

Counto

FEBRUARY 17, 2024

This includes a 50% corporate income tax rebate, with a cap of SG$40,000, and a minimum of S$2,000 in cash payouts for companies that hired local employees in 2023. Corporate Tax: Under the Base Erosion and Profit Shifting (BEPS) 2.0 ii) MNEs to pay a minimum effective tax rate of 15% on their Singapore profits.

Budgeting 52

Budgeting Corporation Tax Computation Tax 52

Counto

FEBRUARY 22, 2024

Deciding on a Financial Year End (FYE) for Singapore Businesses Choosing the right Financial Year End (FYE) is a pivotal step for businesses in Singapore, influencing tax planning, compliance, and financial strategy. The FYE represents the conclusion of a company’s accounting period, typically spanning 12 months.

Financial Analysis 52

Financial Analysis Financial Statements AR Tax 52

Counto

FEBRUARY 4, 2024

Some expense categories are tax-deductible, which can significantly reduce your tax liability. Consulting a tax specialist can provide valuable insights into specific deduction regulations and industry standards. Taxes Tax expenses encompass all taxes related to your business operations.

Payroll 52

Payroll Budgeting Tax Auditing 52

Remote Quality Bookkeeping

FEBRUARY 29, 2024

Picture a future where the tax system works for you, not against you. Welcome to the reality of the Tax Relief for American Families and Workers Act of 2024. As a pivotal landmark in American financial legislation, this Act promises to shake up the traditional view on taxes. Doesn’t seem too far-fetched?

Tax 52

Tax Bookkeeping Budgeting Small Business Bookkeeping 52

Counto

FEBRUARY 7, 2024

From incorporating your entity to managing taxes and annual returns, this comprehensive guide sheds light on the essential steps to ensure compliance and success in your inaugural year. Months 7-12: Taxes and Annual Returns Towards the end of the first year, focus shifts to corporate tax considerations and annual return filings.

Corporation Tax 52

Corporation Tax Payroll Financial Statements Accounts Payable 52

Bookkeeping Express

FEBRUARY 6, 2024

As February unfolds, business owners find themselves at a critical crossroads for tax planning. This blog explores specific steps business owners should take for effective last-minute tax planning in February. Additionally, explore industry-specific tax credits that can significantly impact your bottom line.

Tax 40

Tax Bookkeeping Accounting Accounting 40

accountingfly

FEBRUARY 29, 2024

Accountingfly Monthly Hiring Update: February 2024 Welcome to Accountingfly’s new monthly market update for accounting leaders! As leading recruiters in the accounting industry, we review thousands of candidates and talk to dozens of employers every month. Salary News: 2024 Salary Growth Report; Tax Managers Command a Premium?

Auditing 52

Auditing Tax Accounting Accounting 52

Accounting Fun

FEBRUARY 16, 2024

You shall not make for yourself any graven image of a tax inspector to throw darts at. If you have not saved up to pay your tax by then, you may as well rest on that day. Honour your accountant and tax adviser, who are doing a very good job for you. You shall not murder or evade tax (but avoidance is ok - sometimes).

Accounting 48

Accounting Accounting Tax Billing 48

Counto

FEBRUARY 24, 2024

This event is a prime opportunity for practices and businesses to explore innovative solutions for tax compliance and financial management. At Counto , we’re proud to showcase our advanced AI-powered tax software, AI.TaxAssist, designed to streamline workflow management for tax practices.

Accounts Payable 52

Accounts Payable Accounts Payable Billing Tax 52

Counto

FEBRUARY 4, 2024

Key Components of a Cash Flow Forecast Spreadsheet Understanding the essential components of a cash flow forecast is crucial: Starting Position: The initial cash balance in your bank account. Expected Cash Outflows: All projected expenses, such as rent, salaries, taxes, and operational costs. Total uses of cash 20,000 25,000 21,000 D.

Collections 52

Collections Tax Accounts Payable Accounts Payable 52

Accounting Tools

FEBRUARY 12, 2024

Property taxes on production facilities. The cost of the property taxes on production facilities is included in factory overhead, which is then allocated to the number of units produced. The cost of the utilities for production facilities is included in factory overhead, which is then allocated to the number of units produced.

Financial Statements 75

Financial Statements Tax Payroll Accounting 75