Getting a good tax advisor to assist your start up with tax planning

Getting a good tax advisor to assist your start up with tax planningTax planning sounds like something that big businesses do and also for those who are making big bucks around the world. There are many ways that an individual or a business can save on taxes and also get good tax advice from someone who knows taxes is also a good thing don’t you think?

Learning how to run a business with legal means of reducing your tax outlay is one of the best ways to help you to save on income taxes that can actually be used to power the growth of your business and also to help you to spend more on marketing and also for you to have more cash flow in case things like Covid-19 situation happens.

Running a business is about making more profits. Profits are hard to find during the budding years of a business. Most business function from a situation where you need to build your brand and also marketing for the first few years before you start to see results and results only come after a few years. The first few cherished years are usually barely surviving years.

So the most important step of preparing for a money making venture is to prepare when you are not making much money and also the budding years. Everything about tax planning is about having a good planning phase. Planning a good business structure will ensure that you have lesser tax burden when the time comes. Business is run with this intend of making sure the overall tax burden between shareholders and the business is at the lowest and that is the way where most businesses need to plan for.

A good tax advisor will only guide you through the whole process and ensure that you will always be making the least commitments in the long term within the legal frameworks.

If you need help with SME Bank Loan, speak to us as well.

Work closely with us if you are keen on working this out for your business. Speak to us now!

Getting a good tax advisor to assist your start up with tax planning

Rethinking your business post lockdown and covid-19

Rethinking your business post lockdown and covid-19 – There are many things that businesses owners will need to be prepared for after this covid-19 lockdown that has been going on around the world. Businesses around the world especially small businesses are suffering tough periods of no sales to very minimal sales figures, especially those that are in the frontline. Retail businesses, Tourism and also Events are burning up as we speak and we will not see the same again after this whole lockdown is done.

Many businesses that are already suffering will fall off the cliff and for those that are barely holding on might still have some lifeline but might end up the same way as the rest. Most businesses that had preparation to go online will still see their businesses slightly hit. Not as much but it is a definitely that they will also be suffering as the economy starts to reboot.

Some of the few things that most businesses should rethink about is their post pandemic response. Will they be able to move certain parts of their businesses to the cloud?

Either to save cost, or to be prepared for another pandemic.

One business should also wonder if they should fully deploy all their cash into investments or to have reserves for situations like right now, where businesses are going under because they do not have enough reserves in place for closing of public places due to this pandemic.

Some businesses did not prepare for online access for businesses and end up having to scrambling for it.

Some businesses that relied heavily on retail had no means of even surviving a little without E-Commerce. If they had E-Commerce, they could have went through the online route to keep businesses going and to make income even though lesser but not completely hit.

Businesses that have never taken a bank loan, could also consider having some on standby when such things hit, when such businesses suffer a sudden cut in revenue and need some cash flow to pull through, they will expect to take up a small SME Loan to cover for the rental and also salary, allowing time for the business to get back online.

If your business has been highly reliant on a single location for employment, maybe you can consider working to split part of your business overseas. Outsource the parts where you know you don’t’ need a Singaporean to cover, for example a call centre or a production line that can be shifted to a neighbouring country that cost lesser to operate from.

Accounting Services need not be done at your exact location too, you could outsource it to cloud based bookkeeping services like us.

Change is the only constant. Those who do not change will suffer long term consequences.

Rethinking your business post lockdown and covid-19

Why you should consider refinancing your Singapore Mortgage Loans now

Why you should consider refinancing your Singapore Mortgage Loans now – There are many things you should watch out during a downturn and a recession. Most of the time recession causes job losses and therefore a drastic fall in income. When this happens, people spends less which triggers an even deeper recession.

Why you should consider refinancing your Singapore Mortgage Loans now

One of the good things that do happen during such a situation is when government wants to promote the flow of cash and money in the financial system, they will low interest rates. Interest rates that are lowered will mean people borrowing more to buy things and also to invest into their businesses. This means that more money will end up flowing and keeping the economic system from tanking.

When interest rates fall, the banks will follow suit to reduce their interest rates across board. Which means your savings will actually get lesser interest and also at the same time the loaning rates will also fall.

In a good economy, rates for mortgage loans in Singapore can be around 2.x% and this is quite common in a good economy. Now with the rates of the loans going for 1.7x% for some banks, you can expect the mortgage economy to be quite low for a period of time.

For most residential property owners, they will choose to refinance their mortgages so that they can save on interest rates. This is because mortgage loans in Singapore will increase after their lock in period of 2 or 3 years and this is something that is very common across Singapore and the rest of the world.

The interest rates are usually that thing that will make sure your property investment is a money making or a money losing venture and when we are looking into mortgage refinancing, this is one of the key ways that you can save on money that will have been paid to the bank if you did not do changes to your mortgage rates.

We are able to sit down with you to guide you on how you can actually save more money in the long term by making some adjustments to your payment.

We are also able to give you the best packages available to you and your investments today.

Speak to us so we can assist you with your Home Loan Brokering work.

For our clients that work closely with us, they will know that we strongly recommend Avant Mortgage as their Mortgage Refinancing Singapore advisory and also for those who require help with Mortgage Advisory Singapore, you can also speak to them.

We are keen to assist you with your Xero Accounting Services needs.

Why you should consider refinancing your Singapore Mortgage Loans now