Viewpoints
2019-08-08
A financial audit is conducted to provide an opinion whether financial statements are stated in accordance with specified criteria. The Securities and Exchange Commission requires that all entities that are publicly held must file annual reports with it that are audited. In accordance with the US GAAP, auditors must release an opinion of the overall financial statements in the auditor’s report. Kaizen is committed to the public interest. We have a team of professional auditors who seek to challenge assumptions and unlock valuable insights based on a thorough understanding of an entity’s business and industry, and innovative audit methodologies and approaches. Kaizen’s financial statement audit services comprise three main distinctive levels of assurance depending on your business requirements. Audits and Assurance An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general […]
2019-08-08
Bookkeeping is a tedious but essential work for every company. With a good bookkeeping practice put in place, it becomes easier to track sales, purchases, employment data and other accounting records, which, eventually helps in smooth running of the company. Bookkeeping is always referred as a non-core, but essential and can be outsource, functions of a company. Company who outsource their non-core business functions could divert their funds and manpower to the core functions to generate more returns. We, as an outsourced vendor, offer efficient and hassle-free bookkeeping services at reasonable rates and ensure your company’s accounts are well maintained. Kaizen Accounting Services We are able to assist you with a full spectrum of bookkeeping matters, including: Preparation of financial statements – monthly, quarterly and or annually Keeping full sets accounts including: 1. Balance sheet 2. Profit and loss statement 3. Trial balance 4. Bank reconciliation 5. Fixed asset listing […]
2019-08-08
Our Accounting and Book-keeping Services We provide a total audit, bookkeeping and accountancy services for various sizes of clients. We have the expertise to implement accounting systems and programs that will make your business more efficient. For those clients with no internal accounting staff or propose to outsource the services, we can provide ongoing bookkeeping and accountancy services which can be linked to the preparation of periodic tax returns, payroll services and management accounts. Clients who have their own accounting staff may require management and statutory accounts preparing from their internal records. All our bookkeeping and accounting services can be integrated with budgets and forecasts to enable you to monitor the actual results of your business. Preparation of financial statements – monthly, quarterly and or annual reporting Customer billing and invoicing Design of internal accounting systems, accounting policies and procedures, accounting manuals Accounting roles and responsibilities definition Accounting software selection […]
2019-08-08
Kaizen, with its experienced accounting and tax professionals licenced both inside and outside of the US, provides book-keeping and accounting services including but not limited to below items to both local businesses and international companies with operations based in the US and the major Asian countries and districts including China, Taiwan, Hong Kong and Singapore: Bookkeeping Accounting system setup and support Payroll processing Preparation for general ledger and financial statements in company and group level Preparation for professional financial analysis based on the financial data, objectively reflecting the daily business of your entity The above-mentioned professional financial analysis services mainly include： 1. Specialized business activities planning 2. Specialized short-term operational decisions 3. Specialized long-term investment decisions 4. Specialized cost control planning 5. Specialized performance evaluation. Wealth management planning, including business plans, projections planning, financial and retirement planning, education planning, estate planning, and life insurance planning Accounts reviews, and compilations in […]
2019-08-08
The Taiwan tax authorities require all the enterprises to complete a tax filing on a bimonthly basis, failure to do so might result in late interest penalties and fines. Timely bookkeeping for accounting is necessary for all the enterprises, it is critical for the smooth operation of the business. Kaizen has a team of experienced bookkeepers and accountants dedicated to provide professional accounting services to clients. Kaizen could provide the relevant accounting services as follows: Issue Invoice Service Book-keeping service Design an Internal Control Procedure that Suits Company and Create a Standardize Working Procedure Prepares for the Company Financial Statements Provide a Personalized Financial Analysis Service Communicate on behalf of Company with the Taiwan Tax Authorities Prepares for the Consolidated Financial Statements
2019-08-08
To cope with a rapidly changing environment, the role of a finance function is shifting more and more from a historical data provider to a management decision supporter. Kaizen, with its experienced CPAs and accountants, could provide accounting services including but not limited to below items: Classify original accounting data in accordance with China Accounting Standards and tax laws Prepare entries pursuant to China Accounting Standards Formulate internal reimbursements process and optimize the management system of the enterprises Prepare and issue financial statements on a monthly basis Provide professional financial analysis to objectively reflect the daily operation status based on the financial data of the subject enterprise The above-mentioned professional financial analysis services mainly include： 1. Profitability Analysis 2. Activity Based Accounting； 3. Short-term Operation Decision 4. Long-term Investment Decision 5. Cost Control 6. Performance Evaluation. • Provide practicable suggestions to protect the legitimate rights and interests of the enterprise […]
2019-08-06
General Information about Singapore Tax System Corporate Income Tax – A company is taxed at a flat rate of 17% on its chargeable income regardless of whether it is a local or foreign company. In order to attract foreign investment, Singapore government has introduced numerous tax benefits such as tax exemption scheme for new start-up companies, partial tax exemption scheme and corporate income tax rebate. Individual Income Tax – All income earned in or derived from Singapore is chargeable to income tax. A Singapore tax resident is taxed at progressive rate with the current highest tax rate at 22%. Non-tax resident is taxed at flat rate of 15% – 22% (depends on the type of income) or the progressive resident tax rates, whichever is higher. Goods and Services Tax (GST) – Majority of the supplies of goods and services in Singapore are subject to 7% GST. In other countries, GST […]
2019-08-06
General Information about U.S. Tax System The United States has separate federal, state, and local governments with taxes imposed at each of these levels. Beginning from the tax year 2018, the Tax Cuts and Jobs Act (TCJA) is implemented to make tax reform. This major tax legislation will affect individuals, businesses, and non-for-profit organizations. C Corporation Income Tax – The TCJA reduced the federal corporate income tax rate from 35% to 21%, improving the global competitiveness of the United States in attracting new investment. All businesses incorporated in the U.S. must file an annual income tax return. Individual Income Tax – Most individuals are required to file income tax return. It is a type of income tax return filed by an individual to a federal, state or local taxing agency to report income, calculate and pay taxes. U.S. citizens and tax residents’ worldwide income are subject to U.S. income tax, […]
2019-08-06
Kaizen could provide a comprehensive corporate and individual tax declaration and advisory services. Kaizen tax consultant has extensive tax experience and can assist clients in personalizing an effective tax strategy to meet the tax regulations in Taiwan and around the world. The professional services provided by Kaizen are as follows: Corporate Taxation Service Business Tax Declaration Service Various Withholding Income Tax Service Corporate Annual Income Tax Declaration Service Corporate Tax Compliance Audit Service Corporate Audit Defense and Tax Reliefs Global Transfer Pricing Service Taiwan Tax Consultation Service International Tax Consultation Service Taiwan Tax Incentive Project Application Service Special Industry Tax Consultation Service Individual Taxation Service Individual Income Tax Calculation and Declaration Service for Taiwan Resident Individual Income Tax Calculation and Declaration for Taiwan Resident in Mainland China Individual Income Tax Calculation and Declaration for Taiwan Resident in Singapore Individual Income Tax Calculation and Declaration for Taiwan Resident in United States […]
2019-08-06
In accordance with the tax laws of China, all taxpayers or withholding agents shall pay taxes and fees in the manner within the time limit as prescribed by Chinese tax authorities. With a team of experienced tax consultants, Kaizen is committed to providing professional taxation services to its clients. by thoroughly studying and analyzing China existing taxation laws and related preferential policies. The Taxation services provided by Kaizen include but not limited to the following items: Tax Consultancy Services Tax Planning Services Tax Due Diligence Services Tax Compliance Services Transfer Pricing Computation and Declaration of Value-added Tax (VAT) Computation and Declaration of Enterprise Income Tax (EIT) Computation and Declaration of Individual Income Tax (IIT) Computation and Declaration of Urban Maintenance and Construction Tax Computation and Declaration of Local Funds and Surcharges Computation and Declaration of other Taxes and Surcharges Provision of Enterprise Income Tax Annual Reconciliation and Settlement Services The […]