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 Tax deductions for Sole Proprietor

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mr.noone
post Sep 27 2012, 04:15 PM

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QUOTE(4Rings @ Sep 26 2012, 05:03 PM)
My accountant charges me RM300+ a year for my business tax return service. I just leave it to him to do everything. No headache.
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Ur accountant teach u how to save tax or not?
mr.noone
post Sep 28 2012, 09:47 AM

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QUOTE(Stamp @ Sep 27 2012, 09:49 PM)
True. I paid RM650 for the tax accountant service each year. This fee also can be used as company expenses. Tak pening kepala.  brows.gif


Added on September 27, 2012, 9:50 pm

in my case, YES!  smile.gif
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I call few accountant, either they are very conservative in taxation or not really clear about the "right" of tax payer.

Any suggestion from your accountant advice?
mr.noone
post Oct 1 2012, 09:38 AM

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Can pm me the acountant contact?
mr.noone
post Nov 30 2012, 12:43 PM

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Home address. No physical business address and if need meeting only go to customer address
mr.noone
post Apr 24 2013, 03:31 PM

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QUOTE(klthor @ Apr 23 2013, 02:47 PM)
1) Form B, due date 30 june
2)i) - apportion out the INTEREST only. eg. your house has 3 rooms, ur business assume to use 1 room. so its 1/3, it depends how you explain to the tax officer. paying rental, messy because its another source of income and another set of computation need to show tax officer when they audit you.
ii) Messy, unless you get yourself and accountant or tax agent. because of the hire purchase, CA claim rules etc etc.
iii) Parketing ticket = as other forumer said, identify them, then its 100%. if you are lazy to do so, just claim 2/3 of it as business use, 1/3 as personal use. same goes to toll.
as for petrol, sorry to say theres no 100% for you, max 2/3 is for business 1/3 for personal use. IN ADDITION, you can add in upkeep for your car, well same 2/3 biz use 1/3 personal rules apply too.
iv) this 1 ar....to be safe, dont add lor.... if you really want then 50% max, dont 100%... because entertainment is too general in the eye of LHDN.
v) yes, electricity bill of your house. but same rules apply here, apportion according to % as your rental or loan interest.
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If i work few month last year as employee from other company and few month in sole proprietorship.
Is it the same form and same due date?
mr.noone
post Apr 24 2013, 05:45 PM

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any place to get hte guideline for the balance sheet?

Example if entertainment 1000, 50% is 500, the other 500 in the non "something" expense?

Because need to balance the account per usage?

 

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