Do You Consider Tax Planning As Part Of The SparkUp or Growth For The Next Generation Of Business People?

Financial, Marketing, Sales and Human Resources Planning are one of the important factors to consider for the growth of business entity. However, I also consider Tax Planning as part of the growth for the Next Generation of Start-Up and Business People.

For three decades of award-winning economic reportage, BusinessWorld, the country's leading business newspaper, introduces its newest successor in the age of disruptive innovation: SparkUp.

Right: Lucien C. Dy Tioco, Executive Vice-President of Philippine Star Media Group

The digital-first multimedia platform SparkUp is a space for the community of young, passionate, and wildly aspiring go-getters. It assets include the website sparkup.ph, social media pages including Facebook, Instagram, and Twitter @SparkUpPH, and a quarterly published magazine.

Readers will expect original content for the next generation of business people. A daily content hashtag categorizes the stories:

#MoneyMonday - Tips on money management with the latest news on saving, investing, and spending;

#TrendingTuesday - Insights on the latest trends and their impact on entrepreneurs and consumers;

#WorkingWednesday - Workplace stories and tips for the Gen Y and Gen Z's work ethics and career outlooks;

#TakeoverThursday - An insider tour of a day in the life of the members of the Sparkommunity;

#FreshFriday - Stories on the lighter side of business.

Besides, SparkUp will also deliver insights from industry icons called Sparkfluencers who are young and trending business influencers who made it to the top. SparkUp also introduces Sparktionary to boost awareness of business terms. This built-in dictionary provides digestive definitions through interactive executions readily available for every reader.

Signing up to SparkUp via http://sparkup.ph/signup/ will give users additional capacities, such as contributing their own content, highlighting passages of interest, taking down notes, bookmarking stories, and participating in a gamified platform.

SparkUp will also regularly hold a series of events aimed at empowering the Sparkommunity. Among these events are entrepreneurial summits, pocket forums, campus activations, start-up competitions, and case-study activities. These will enable members of the Sparkommunity to learn, meet up, network and find potential partners.

To know more about SparkUp, visit www.sparkup.ph and follow @SparkUpPH. 

Secrets of Tax Minimization: How To Reduce Tax Legally and Ethically

Tax Avoidance or Tax Minimization is the available to cover escaped accomplished by legal procedure which may be contrary to the intent of the tax law's sponsors but nevertheless do not violate the law.

The following are suggestions on how to reduce tax legally and ethically:

1. Effective Tax Management - To maximize Tax Benefits we have to do the following:

a. To optimize Tax Deductions, 

b. To minimize Taxable Income

c. To avail all Tax Incentives

d. To avail Tax Remedies under code

e. To comply all the requirements of the Bureau of Internal Revenue

2. Master the National Internal Revenue Code (NIRC) and be updated with regards to Revenue Regulations, Circulars and Orders.

a. Know the tax rules

b. Know how the rules

c. Maintain a high level of tax compliance

d. Know you rights and remedies

e. Know the rules and process the assessment

f. Know best practices of handling assessment

g. Study and define your strategy

h. Consider favorable settlement such as amnesty, abatement and compromise settlement

3. Make A Tax Planning and Strategies in Your Business

4. Make an Investment On Passive Income (Interest Income From Banks, Inter-Corporate Dividends Other Income Subject To Final Tax and Others)

5. Attend Seminars for Continuing Professional Education (CPE)

6. Ask help to Tax Consultant.