April 15, 2010

Business and tax

This is not the first time I wrote about business and tax and it may not be the last.

When anyone start a business, especially when you start from scratch and have to learn new things every other day, tax is the least of your worry. What you keep thinking of every business day is whether you will make enough money for you to take home to your family and be in business another day when the sun goes up tomorrow.

Which is where most business get stuck when they starts to make money. 

The tax consultant call it 'Tax Planning'. Most business people call it 'Why the heck should I pay the government who never really know how to spend it in the first place and ....(insert all sort of excuse/expletive here)'

Basically, people hate tax. Until they need something from a government body or institution which is funded by tax. Hence the argument in the last paragraph. No one wants to admit that the government is efficient enough to be paid anything. And taking 28% (which is getting lower by the year) of the business people hard earned money is never gonna be easy, especially if there are too many 'secrets' in the government of the day.

Again, bad tax planning is the biggest culprit in your money going to them.

If you think your company, staff and management (which is usually you) deserve to have the benefit of all your hard work, there are so many ways in doing it. Some call it cheating but most businesspeople call it 'knowledge'. Yes, there is a reason when some call knowledge as the most valuable thing you can invest in your life. 

That is why this year my staff will have the best year of their life all fully sponsored by the firm, and one person will even get a full scholarship to further her study. 

Yes, we do love you all but we hate tax more...

1 comment:

ku E said...

hie there! please collect your award in my blog! ;)

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