Marcela Kane - Tax Tips For New Businesses
Marcela Kane is an international tax expert who understands the many challenges that businesses face when dealing with their taxes, especially those that operate on an international scale and have to work within the confines of a variety of different tax laws. New businesses face their own struggles, often due to inexperience, so try to keep the following in mind to keep tax to a minimum.
Save Everything
You should save any documentation that is related to expenditures and income, such as receipts and profit reports, so that you have everything you need to ensure your figures are accurate. This is crucial, as making mistakes could result in you failing to claim for deductibles that you are entitled to, or could lead to accidentally tax evasion in the worst case scenario.
Know Your Industry
By staying engaged with professional bodies that are related to your industry, you get to learn an enormous amount about what is required from you in business. This extends to your taxes as well, as many industry bodies will be able to provide you with more information about possible exemptions that you could be eligible for, which can often be used to reduce your bill.
Work With Professionals
Many new businesses make the mistake of thinking they can handle their taxes without the help of a professional, like Marcela Kane. While this may be the case for some, you need to understand that you are going to have to dedicate a lot of your time to learning about tax law, which can eat into the time you commit to actually providing your service.
