Commonly Asked Questions and Concerns of SME?

 

Over the years, we have addressed the common questions and concerns for our clients.

 

 

Accounting

ü       Why is there profit but no cash?

ü       Can I pay more allowance instead of higher basic salary?

ü       Where do I charge “under the table money”?

ü       My accountant delays in finalising accounts. Is there a problem?

ü       My accounts are not telling me a story. Can you make it “talk”?

 

 

Audit

ü       My salesman pocketed our cash collection. What can I do?

ü       My stock is missing. How can I control it?

ü       My partner is passing our business to his own company. Can I sue him?

ü       How to value stock and work in progress?

ü       Can you assist in identifying fraud by my manager?

 

 

Business

ü       There is so much competition. What profitable business can I do?

ü       I am in the sunset of my business. What else is there that can be done?

ü       My staff turnover is high. How can I solve this headache?

ü       I dare not employ salespeople as they will one day become my competitors.

ü       Keep the business small and the problems will be less.

 

 

Company Structure

ü       When should I convert my sole proprietorship to a Sdn. Bhd.?

ü       Shall I bring my wife/mum as a partner of my business?

ü       I want to buy a shop. Should it be in my name, my wife’s, my son’s or my company?

ü       Should I make all my children directors of my company?

ü       Can my mum and dad be the shareholders of my company?

 

 

Disputes

ü       My 1% shareholder cum director refused to sign cheques. Can I fire him?

ü       The company has huge debts. Can I resign as a director?

ü       I am a minority shareholder and the company did not call for shareholders meeting. What are my rights?

ü       I cannot work with my partner. How do we terminate our partnership?

 

 

Funding

ü       My business is quite profitable but why am I not able to obtain bank loans?

ü       Can I pull out as a guarantor for loans?

ü       How can I get venture capitalists interested in my business?

ü       I defaulted 3 months of loan repayment. Will I be blacklisted in CCRIS?

ü       The bigger my business grows, the bigger are my loans. How do I reduce my burden?

 

 

Grants and Tax Incentives

ü       I spend a lot of money on exhibitions. What grants can I apply?

ü       I am starting an IT business. How can the government help me?

ü       Is it difficult to apply for MSC status?

ü       I did not claim for Reinvestment Allowance. Can I claim it now?

ü       I am in the manufacturing business. Do I qualify for pioneer status?

 

Income Tax

ü       Why is my tax so high?

ü       What other expenses are deductible?

ü       Is it better to buy a car under my personal name or my company?

ü       Should I set up a trading company to buy my manufactured products?

ü       My company does not qualify for sales and service tax. What should I do?

 

Investment

ü       The company has extra cash, should I pay 20% tax on interest income?

ü       I heard good tips for stock, should I use working capital to buy?

ü       Which investment yield better returns, condo, house, shop or land?

ü       Should I take up endowment policy and/or education plan?

ü       Who names should I use for investment?

 

Staff Incentive and Succession

ü       If I give my manager our company’s shares, what would happen if he leaves?

ü       The company has a few millions worth of land and building. How can I give shares way to my working directors?

ü       I want my sons to work for the shares of the company. How do I structure it?

ü       Can you value my business before I restructure the company?

ü       Should I plan for listing?

 

         

Tax Audit and Investigation

ü       My business is small. Will the Inland Revenue Board come after me?      

ü       My accounts were messy. How do I prepare for a tax audit?

ü       During tax audit of my Sdn. Bhd., can the Inland Revenue Board look at my personal bank accounts?

ü       Is it better to run my business through a Sdn. Bhd. than a sole proprietorship?

 

 

Winding Up and Striking Off

ü       The creditors are chasing me. Can I wind up my company?

ü       My bank accounts are frozen by the Inland Revenue Board. What can I do?

ü       Can I take cash out before liquidation?

ü       When I liquidate my manufacturing company, do I need to get Customs and Excise and Inland Revenue Board’s clearance?   

Accounting, Audit, Tax, Consulting firm
in Petaling Jaya, Kuala Lumpur, Klang,
Selangor, Malaysia.