Accotax

 What is the definition of a Personal Investment Company (PIC)? A personal investment company (PIC) is a private limited corporation used to invest for the long term. When should you use a Personal Investment Company? There are several benefits to employing a PIC, including the following: Profits can be retained by the PIC for investment rather from being pulled out and subjected to higher personal tax rates in the hands of the shareholders. The PIC can invest in a variety of assets, including cash, stocks, mutual funds, and real estate. The top tax rate for a corporation is 20%, while dividend income is normally tax-free. After taking into account the impacts of inflation, capital gains tax is also payable at a rate of 20%, with the costs of managing the investments subtracted for tax reasons. Profits from investments can be deposited into a pension fund, which provides tax relief to the company, but only to a certain extent. The trading company's profits might be lent to the PIC...

 Accountants are critical to a company's success and profitability. They ensure that a business is comply with the newest tax legislation and runs as tax-efficiently as possible, in addition to managing business accounting. When your firm expands or changes, you may have to make the tough decision to switch accountants. We're frequently approached by potential clients who are unsure how to switch accountants. Switching from one to the other, according to many accountants, is a time-consuming and costly process. However, we have simplified the procedure so that it may be completed quickly. Continue reading to learn how to switch accountants. Changing accountants for a variety of reasons You may be considering changing accountants for a variety of reasons. The most common reason we get from prospective clients who want to switch accountants is because their present accountant isn't proactive in advising them, or that their business has grown or changed, and their existing ac...