Talk about tax and corporate finance in Japan
There are two tax filing statuses. One is called Blue Form filer and the other is called White Form filer. If you have your own company or have your own proprietorship, you should choose Blue Form filer status as your tax status because it is much better and basically there will be nothing to lose. … Read More “Benefit of Blue Form Tax filer status” »
1) Office rents to be prepaid for next months (maximum for the next 12 months). Office rents and similar regular expenses are ok to be paid at a maximum of 1 year in advance and deduct from the current year’s income. 2) Company house Let your company own the contract of your house rent. The … Read More “Tax Saving – 4 Tips to know for SMEs (to be continued)” »
An artwork lower than 1 MM yen per item is deductible from taxable income for corporate tax through the process called depreciation. The cost has to include auction fees (if you buy at an auction) and other expenses that came with the purchase (e.g. delivery fee). The life years for the tax is either 8 … Read More “Saving tax by investing in arts” »
There are many options you can take to reduce your inheritance tax. Here are basic steps to reduce the tax. Inheritance tax offers many tax deductions or discount under certain situations. But as a basic, the fundamental aspects should be addressed first. Basics 1) Estimate your inheritance and see how the tax will be reduced … Read More “10 steps to reduce inheritance (estate) tax for business owners” »
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 … Read More “Checklist saves your corporate tax” »
I have not confirmed the source yet but there is a talking in tax community that the tax authority is considering to limit deductible depreciation expenses on overseas properties. As you may know that second handed houses can be expensed over relatively shorter period. The depreciation expense are allowed to use the 20% of the … Read More “There is a rumor that the tax authority is considering revision on overseas property depreciation” »
After a few years of struggle (or even from the first year), your company has started generating enough income. Now you are worried about the tax to pay. There are some tax tips that everybody know (not everybody but many. Sorry). They are nothing illegal. There should be no much reason for you not to … Read More “Tax saving tips for SMEs” »
Well known structure Buying properties abroad has become a well known structure for saving setting among individuals in high income tax brackets. Properties abroad are especially popular because of two major reasons. 1) The split of the cost between building and land is much more favorable overseas. In Japan, especially in urban area, land portion … Read More “Well known tax saving setting by buying properties abroad” »
