Are You In The Hot Seat?

So, this showed up on our feed today.

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Commingling

Commingling Of Funds

According to Black’s Law Dictionary, ‘commingling’ is defined as, (Of a fiduciary) “to mix personal funds with those of a beneficiary or client.”

Even as a small business, it is important to set up separate accounts for your business and personal needs.

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Exit Strategy – How to Close Your Business the Right Way

In our last article, Is it time to close my business, we mentioned that when the time comes to move on, Entrepreneurs ought to have an exit strategy, as properly...and gracefully closing things off legally and financially will improve your chances of transitioning smoothly into another venture.

No doubt, the idea of ceasing your business will be a tough and difficult one to process, but you would need to put emotions aside and close your business the right way, so as to avoid you further distress and setback.

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VAT Registration

As required within the jurisdiction of Trinidad and Tobago, individuals or businesses that makes a gross sales value of TT$500,000 or in excess of TT$500,000 in any 12-month period, MUST register for VAT.

Individuals and businesses whose sales forecast is TT$500,000 or more within any 12-month period, MUST also register.

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