Japanese Tax Blog in English

日本の税務情報を英語で書くブログ by みなと国際会計事務所

Checklist saves your corporate tax

time 2017/11/01

I became a big believer in check list recently after I read a book called Checklist by Atul Gawande. It explained various situations where a checklist played a dramatic role in reducing failure rate in medicine, law practice, construction etc. A simple check list that covers a wide range of items will save you from missing just one important item out of many that can possibly cause a major damage or unnecessary cost in any areas of your concern. Now I want to provide you with a check list that I think will probably help you save your corporate tax.

The list covers many but easy ones that you can even implement in the last minutes for most of the items.

1. Is it possible to pay rent for your office in advance for one year?
2. Is it possible to pay your insurance in advance for one year?
3. Do I want to pay Safety Net Insurance? That is actually the same as saving my money but is deductible.
4. If I want to pay year end bonus to my team, I have to send an email or notice before the end of the fiscal year.
5. Is there any bad debt (accounts receivable) that has not been collectible? If the customer went bankrupt or if I did not have any transaction with them for more than one year, I can expense it.
6. Are there any expenses that can fall under R and D category? Check with my accountant.
7. If I paid more salary to my staff, there is a chance that I can get a bit tax credit. Check with my accountant.
8. Can I pay advertisement for one year in advance?
9. Can I pay my spouse for his/her work at home?
10. Can I claim a part of my car expenses (or other major things) as expenses? Check with my accountant.
11. Did I apply for Blue Tax Payer Status? That will allow me to carry my losses for next 10 years.
12. Do I want to pay myself rent for the space I work at home (at least for next 12 months)?

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