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Over 200 small business owners recently benefitted from free legal and tax compliance advice.
Attorney, Debbie-Ann Gordon of DAG & Associates discussed legal considerations in accounting for taxes and the tax write-off rules intended to relieve financially distressed businesses.
Entrepreneurs and business owners were also encouraged to contemplate the most suitable vehicle for their trade, whether sole proprietorship, partnership or company as the tax implications vary with each business type.
“It is important to be clear on your business form, as this has tax and legal implications. For example, sole proprietors should be aware that in a legal dispute they will be sued personally, while in the case of a limited liability company, the company will be sued and not the shareholders or directors. A limited liability company offers the greatest legal protection,” Gordon said at the first installment of the Flow Business webinar series.
Flow Business hosts webinar on cybersecurity
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WITH a recent upsurge in cyber criminals “capitalising” on businesses “moving online, Cable and Wireless Communications/Flow Business hosted a webinar titled Productivity and Security: Enhance your efficiency and cybersecurity.
“The covid19 pandemic has produced a leap in digitalisation larger than ever seen before, and for local small businesses and start-ups in particular, it presents an opportunity to retool and rethink digital strategies – so that you can use the benefits of taking your business offering online to drive business results,” said Cable and Wireless Business/Flow Business director Bradley Ramcharan, in a release.