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Choose your company's Financial Year End (FYE)",[],"h3",{"_key":1255,"_type":170,"children":1256,"markDefs":1261,"style":190},"k28",[1257],{"_key":1258,"_type":174,"marks":1259,"text":1260},"k27",[],"Also known as the fiscal year-end, a company’s Financial Year End (FYE) is the completion of a 12-month or one-year accounting period. Essentially, this period gives businesses across all industries the time to prepare all the necessary statements and accounting documentation needed. 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Hold your first Annual General Meeting (AGM)",[],{"_key":1329,"_type":170,"children":1330,"markDefs":1335,"style":190},"k62",[1331],{"_key":1332,"_type":174,"marks":1333,"text":1334},"k61",[],"In Singapore, all incorporated companies need to hold an Annual General Meeting (AGM) to update key members of the business on the company’s business health. In these gatherings, company directors would present their current financial performance, where shareholders are allowed to vote on key issues affecting the business. It is useful to note that Singapore-incorporated companies should hold their first AGM no more than 6 months after the FYE.",[],{"_key":1337,"_type":170,"children":1338,"markDefs":1343,"style":190},"k65",[1339],{"_key":1340,"_type":174,"marks":1341,"text":1342},"k64",[],"In the succeeding meetings, this is where other resolutions are made such as the remuneration of directors, the re-election of directors, as well as the appointment of external auditors.",[],{"_key":1345,"_type":170,"children":1346,"markDefs":1351,"style":190},"k69",[1347],{"_key":1348,"_type":174,"marks":1349,"text":1350},"k68",[],"While it may seem like just another business meeting, don’t take this lightly; there are penalties for companies that fail to hold annual general meetings!",[],{"_key":1353,"_type":170,"children":1354,"markDefs":1359,"style":1253},"k72",[1355],{"_key":1356,"_type":174,"marks":1357,"text":1358},"k71",[],"3. 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During this process of getting your taxes in order, it is useful to know the general tax incentives your company is eligible for.",[1381],{"_key":1374,"_type":188,"externalUrl":1382,"linkType":145},"https:\u002F\u002Fwww.iras.gov.sg\u002Firashome\u002FBusinesses\u002FCompanies\u002FLearning-the-basics-of-Corporate-Income-Tax\u002FOverview-of-Corporate-Income-Tax\u002F",{"_key":1384,"_type":170,"children":1385,"markDefs":1397,"style":190},"k91",[1386,1390,1394],{"_key":1387,"_type":174,"marks":1388,"text":1389},"k88",[],"Find out more about corporate income tax in greater detail by clicking ",{"_key":1391,"_type":174,"marks":1392,"text":181},"k89",[1393],"k85",{"_key":1395,"_type":174,"marks":1396,"text":185},"k90",[],[1398],{"_key":1393,"_type":188,"externalUrl":1382,"linkType":145},{"_key":1400,"_type":154,"height":1401,"position":1242,"url":1402,"width":1403},"k92",3192,"https:\u002F\u002Fcdn.aspireapp.com\u002Fwebsites\u002Fblog\u002F88aac677055bcaa8b5d5aa60b64a022c\u002Fare-you-a-newly-incorporated-business-here-are_body_are-you-a-newly-incorporated-business_2.jpeg",4993,{"_key":1405,"_type":170,"children":1406,"markDefs":1411,"style":1253},"k98",[1407],{"_key":1408,"_type":174,"marks":1409,"text":1410},"k97",[],"4. Hire an accountant",[],{"_key":1413,"_type":170,"children":1414,"markDefs":1419,"style":190},"k102",[1415],{"_key":1416,"_type":174,"marks":1417,"text":1418},"k101",[],"Small business owners may skip this step in the beginning, but it may be worth considering hiring an accountant for all your financing needs at some point. Yes, it is an added expense to employ an additional team member. But having someone with professional experience in the managing and reporting of financial information can do wonders for your business numbers.",[],{"_key":1421,"_type":170,"children":1422,"markDefs":1427,"style":190},"k106",[1423],{"_key":1424,"_type":174,"marks":1425,"text":1426},"k105",[],"Some of the benefits that come with hiring an accountant include handling payroll, utility payments, annual financial statements, employee tax management, and the list goes on. 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