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 Self employed or freelance, loan approval prep!, How to prepare ourselves for loan approv

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nwjeng
post Mar 9 2017, 04:21 PM

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QUOTE(Madgeniusfigo @ Mar 9 2017, 03:47 PM)
It depends.

Different company holds different value.

If you are a startup, sdn bhd in malaysia is more valuable, as it is more accountable and credible. Hence crowdfunder would more than likely invest in such company registered.

It depends which type of company suits you.

Cheers
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HI there, just wondering is that you meant to do it your own for the income tax submission is better than hand over to account/taxation firm?

My company just ran for 1 yrs + and is enterprise.

Another things is if i am freelancer that claim commission without any basic. but running a company that at the moment didnt pay any salary to my own how to submit the income tax? i understand that the income tax shall combined personal and company together using B form. so it that measn that for example my comission from other job get rm 40k per year n company didnt pay me any so in the B form i declare myself earning rm40k pper year?

Could you advise.

Thank you.

Regards,
Ng
nwjeng
post Mar 10 2017, 02:13 PM

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QUOTE(kelchai @ Mar 10 2017, 12:40 PM)
1. Where does you claim this "commission"? from your own company or other business partner? If from own company, you need to declare as your income in borang B.

2. Your total taxable income will be: (Total Company Revenue - Company Expenses) + commission that declared to your self.
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Am property agent. So commission from there my agency not from own company. So if that so, i still need to declare in borang B right?

Thank you.
nwjeng
post Mar 10 2017, 06:30 PM

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QUOTE(kelchai @ Mar 10 2017, 04:21 PM)
If it is from your agency then that will be part of your salary income, and should not reported as business income. In this case you declare as borang BE only.

Unless you have a sole proprietor registered under you, then all the business income that linked to this company will be declared under borang B. You need to differentiate business income and salary income, if you have both, then just declare in borang B.

I know some insurance agent declare their commission as business income.
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Thanks for ur explaination then i guess I will stick with boring b as I got both personal income n biz income.

Thank you so helpful.

Regards

 

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