Register your company in Singapore
No need to fly out of the country to set up your company. Let us take care of incorporating your business while you focus on expanding your operations overseas.
Singapore Company Incorporation, Corporate Secretary & Accounting Services for Philippine Businesses
Focus on expanding your business in the Lion City while we take care of everything else.
Online Corporate Secretary for your company
Every Singapore company must have a Corporate Secretary. With us, you’ll get the full support of a Corporate Secretary without hiring one on your payroll.
Hassle-Free Accounting, Tax & Payroll Services in Singapore
Get your business the support it needs from accounting specialists in Singapore.
Get started on your Singapore entity!
The Premiere Tax Compliance Solution for professionals, sole proprietors, and micro & small businesses.
Accounting Expenses Plan FAQ
There are several types of expenses in a business. The most common way to categorize them is into operating vs. non-operating and
fixed vs. variable.
Operating – expenses a business incurs through its normal business operations such as:
● Cost of Goods Sold (COGS) – for example: cost of labour, cost of materials, etc
● Marketing, advertising, and promotion
● Salaries, benefits, and wages
● Selling, general, and administrative (SG&A) – for example: cost to sell, cost to deliver, cost to manage the company
● Rent and insurance
● Depreciation and amortization
Non-operating- expenses that are not related to normal business operations, such as:
● Interest, Taxes and Impairment charges
Fixed – expenses that do not change and remain the same every month, even though there may be an increase or decrease in
business activity in sales or such as:
● Rent, Salaries, benefits, and wages (sometimes fixed and sometimes variable)
Variable – expenses that keep changing every month depending on the business activity in sales or production, such as:
● Transaction fees
● Marketing and advertising (sometimes fixed and sometimes variable)
A loan to a subsidiary is classified as an asset (it will be a current asset if the loan is due within 12 months, non-current if it is more than
12 months).
No, dividends distributed to shareholders are not recorded as an expense on a company’s income statement as they do not affect a
company’s net income or profit. Instead, dividends impact the shareholders’ equity section of the balance sheet.
Goods on consignment will not be considered as expense when the company is only taking commission from whatever has been
consigned to them and any goods remaining unsold will be returned to the consignor.
It will be depreciated over time and will be considered as an expense.
Example: If depreciation is S$12,000 per year, the expense will be s$1000 per month. As a benchmark typically for furnitures and small
machinery, this period will be over 3-5 years. However for machines that can be used for a longer period but just subject to some
repairs/overhaul, the period of depreciation can be longer.
Yes, adjustments to the pricing will be made as there will be additional support required for tax and accounting. For financial periods
greater than 12 months, our team will have to prepare 2 tax computations and lodge this in 1 combined tax return. For example, if it is a
17 months financial year running from 1 Aug 2019 to 31 Dec 2020, it will be split into: YA 2020: 1 Aug 2019 – 31 Dec 2019 + YA 2021: 1
Jan 2020 – 31 Dec 2020. To help prepare the secondary tax computation a one off top up fee of S$650 will apply.
Trusted by our customers
Here are some of the customers that use Taxumo to file and pay their taxes.
“Taxumo helps me free up my time. I don’t have to schedule my week around tax deadlines anymore.”
Raffy Vicente
RV Marketing and Consultancy
“Paying taxes should not be a pain every month. You can just go online and submit through Taxumo-it’s easy as that.”
Rach Bonifacio
Studio Owner Treehouse Yoga
“Because of Taxumo, I don’t have to worry about taxes. All my passion, all my energy, and all my time can go to my business-and most impor-tantly my family.”
Frances Sales
Writer and Editor – Topaz Horizon