Kenwyn Accounting Singapore

5 Tax Deductions Every Singapore Startup Should Know Starting a business in Singapore comes with exciting opportunities—but also responsibilities, especially when it comes to taxes. For early-stage startups, understanding available tax deductions can make a big difference in managing cash flow and improving profitability. Here are 5 key tax deductions every Singapore startup should know: 1. Startup Tax Exemption (SUTE) Scheme Qualifying new companies enjoy partial tax exemptions for the first three consecutive years of assessment. This can significantly reduce your taxable income during your crucial startup phase. 2. Business Expenses Deduction Expenses that are “wholly and exclusively” incurred in the production of income—such as office rent, utilities, marketing, and staff salaries—are deductible. Keeping proper records is essential to maximize this benefit. 3. R&D Tax Deductions Startups investing in innovation and product development can claim enhanced tax deductions under the ...

  Top 5 Bookkeeping Mistakes to Avoid in 2025 Bookkeeping is the backbone of every successful business. Yet, many small and medium enterprises (SMEs) continue to struggle with costly mistakes that affect their cash flow, tax compliance, and overall growth. In 2025, with tighter regulations and faster business cycles, accuracy in bookkeeping is more important than ever. In this post, we’ll cover the top 5 bookkeeping mistakes to avoid, real-life examples of how they impact businesses, and how Kenwyn ensures your books stay accurate and stress-free. 1. Mixing Personal and Business Expenses Mistake: Many business owners still use one account for both business and personal transactions. This makes it difficult to track true business costs and may raise red flags during audits. Example: A startup founder paid for personal travel using the business account. When it was time for tax filing, expenses couldn’t be justified—resulting in penalties. Kenwyn’s Solution: With Kenwyn, you get clea...