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How to Stay on Top of Your Tax Obligations

Ronika Khanna CPA,CA

Annual T5 Slips and summaries if you pay dividends to your shareholders If you are incorporated, an annual corporate tax return is due 6 months after your year end If you are an unincorporated business, an annual personal tax return along with schedule T2125 for business usually by June 15th. Ignorance is not an excuse.

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How to avoid VAT penalties in UAE?

Simple Accounts

In UAE, most of the goods and services are subject to Value Added Tax. After each tax period, every taxable person in the UAE is supposed to file a VAT return with the Federal Tax Authority (FTA). . The new federal corporate tax on business earnings of 9% on profit would take effect only on June 1, 2023. .

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Lost Accounting Data – Emergency Plan for Limited Company Contractors

Cheap Accounting

At this point you may wish to use a Cloud Accounting system such as FreeAgent which you can pay for directly or this can be FREE if you have a Mettle or NatWest business bank account. Company Accounts and Corporation Tax Return – annual filing. How to get a Business Tax Account.

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What You Should Know After You Have Incorporated

Ronika Khanna CPA,CA

Once you have decided to establish a new corporation, there are certain best practices that you should implement to ensure that your corporation runs smoothly right from the beginning. Maintain all your incorporation documentation, either physically in a file folder or scan it to accounting/corporate folder on your computer.

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20 Essential Tax Facts for Small Business Owners

Ronika Khanna CPA,CA

Life insurance premiums are not tax deductible unless the beneficiary is the business. Instead the government allows for what is referred to as CCA (capital cost allowance) which is essentially a depreciation charge over a period of time at specific rates. Corporations are required to file a separate corporate tax return.

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More Than a Loophole: Delaware Sales Tax and Other Benefits of Incorporation in DE

inDinero Tax Tips

And there’s no state corporate income tax on goods and services provided by Delaware corporations that operate outside of the state. Delaware holding companies benefit from no corporate tax on interest and other investments. The state also doesn’t impose personal property tax.

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Shrinking the Delaware Tax Loophole: Other U.S. States to Incorporate Your Business

inDinero Tax Tips

Take note, gross receipts tax in Delaware cannot be reduced by deducting expenses related to the costs of the goods or services sold. Your very own Delaware corporate tax calendar. Delaware incorporated entities that owe $5,000 or more in franchise taxes must make estimated quarterly payments in progressively smaller amounts.