It is extremely important for business to insure that they are paying the right taxes and utilizing the correct deductions. After a tax period, businesses should evaluate themselves to stay up-to-date on their taxes. In order to accomplish this business owners should check their registrations to make sure that they are correct. Also check that the business is meeting SG payments to employees to prevent penalties or seizure of assets. The main aspect of keeping a business consistent with taxes is to thoroughly perform up-keep on the bookkeeping and make sure that company funds aren’t being used for personal expenses.
Read more: It’s time to do a health check on your tax