Pay your taxes, honor the law

Tax is known to be a burden to every taxpayer. If you earn an income, whether from business or employment, you generally need to pay an income tax. If you do business, whether you gain or loss, you are normally required to remit business taxes. Taxes can be local or can be national. Income tax and business taxes (e.g., value added tax, percentage tax and excise tax) are examples of national taxes imposed on taxpayers. On the other hand, local taxes include permits, licenses and other taxes imposed by local government units. Thus, taxes may initially give unfavorable impressions and impact in our daily lives. But why our government imposed such burdens?

Taxation has four main purposes – revenue, redistribution, repricing and representation. Read more

Advantages and benefits of honesty in business

What is an honest business?

People who may read this article probably have their own businesses, employed in a business or just knew someone who is having a business. Now, whether where you belong, you may have an idea of what is an honest business. We can never tell that a businessman is honest when he doesn’t pay his correct tax dues. A company that makes exaggerated product promotions is likewise may not belong to that definition. Honesty is the virtue of communicating the truth and creating trust in the minds of others. Therefore, business honesty means the virtue of communicating business truth and creating business trust in the minds of others. This communication may include verbal and non-verbal and may be transferred to customers, employees, investors, creditors, debtors, co-owners, the government, the public and anyone who may have interest in one’s business. The following can be considered as honest business actions: Read more

The beginning of business wisdom

Wisdom is greatly important for us to succeed in business. We use it to make just and righteous business decisions. We apply it from planning, to execution and to preservation of our businesses. We need it in choosing the greatest product ideas, hiring the best personnel, creating the most effective marketing strategies and offering the most outstanding customer services. Even in our smallest decisions, we need wisdom to do them right and running.

But what is true wisdom anyway? Do we really have it? Do we really use it? In answering these questions, let’s take a look at the beginning of wisdom. According to the Bible… Read more