Tax , Accounting

Success Story: How Corporate BackOffice Helped Josiah Tan and Melvin Soh Save on Taxes

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At Corporate BackOffice Pte Ltd, our mission is to optimize your tax strategy and maximize your savings. We’re excited to share a success story of how we helped our client, Josiah and Melvin, significantly reduce their overall tax burden.


Balancing Company and Personal Taxes Josiah and Melvin, business partners, approached us to help streamline his tax strategy.


Here’s how we achieved remarkable tax savings for him:


1. Maximized Company Tax Claims and Deductions


o Capital Allowance Claims: We ensured Josiah’s company claimed the maximum allowable deductions for capital expenditures.


o Double Deductions: We leveraged double deductions for eligible business expenses such as staff training and approved donations.


o Further Tax Deductions: We identified additional R&D tax credits and other deductible expenses to reduce the company’s taxable income.


2. Strategic Distribution of Excess Profits


o After optimizing all possible tax claims within the company, we strategically distributed the excess profits to Josiah and his shareholders.


o Leveraged Personal Reliefs: 


By distributing the profits to shareholders, we maximized the use of their respective personal reliefs, significantly reducing their individual income tax liabilities.


3. Overall Tax Optimization


o This comprehensive approach allowed us to balance the tax liabilities between the company and the individual shareholders.


o Reduced Total Tax Burden: By efficiently shifting excess profits to take advantage of personal reliefs, we minimized the total tax burden for Josiah, Melvin and their companies.


Why Choose Corporate BackOffice? 


Our tailored tax strategies are designed to optimize both corporate and individual tax situations, ensuring maximum savings for our clients. Here’s what Josiah had to say about his experience:


“Corporate BackOffice has transformed the way I approach my business finances. Their expertise in balancing company and personal taxes has saved me a significant amount of money. I couldn’t be happier with the results!” – Josiah


Optimize Your Tax Strategy Today! Let Corporate BackOffice help you achieve similar results. Contact us to learn more about how our comprehensive tax planning services can benefit your business and reduce your overall tax burden.


If you need help, feel free to contact us at :

(M) +65 90880669

(E) [email protected]

www.corporatebackoffice.com.sg

Written by Kelvin Loh