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What Small Business Owners Should Follow To Get Tax Redemptions?

By SiliconIndia   |   Wednesday, April 17, 2013   |    1 Comments
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Bangalore: When it comes to pay taxes to the government, most of the small business owners get confused about what and why they are paying! These confusions arise mostly due to the dearth of proper tax knowledge or some ignored factors.

‘Yahoo’ has mentioned ten such factors, which gets ignored by most of the small business owners, which later on gives birth to all the confusions. In other words, these are the factors that should be taken care of while paying taxes by any small business owners.

1. Secret from the Employees

When it comes to tax or any tax related issues, most of the small business owners keep it a secret to their employees. Well, this is the first and the most common mistake in this list.

Keeping the employees aloof from tax related subjects is never a good idea. When the employees are kept in dark about the tax related matters, there are chances that the tax department will go after the business owner’s nest. This in turn, can loosen the socks of the business owner.

2. Daily Record

At times, some of the expenses made or the profits earned, escapes the record. This happens due to carelessness or the size of the expenses. These small escapes in the business can end up bringing extra pain to the business owner at the financial year end.

However, if all the records are maintained on a daily routine, it will become easy to identify the reasons behind a certain amount of tax and the process will become easier and smoother.

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Reader's comments(1)
1: nice tips to follow
Posted by:shankar - 21 Apr, 2013
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