The gross income of my sole-proprietorship business during the year was below $500,000. Do I need to retain this year's business records, and if so, for how long? Do I need to attach the Balance Sheet and Profit & Loss Accounts to my Tax Return?
If I have not appointed any accountant to handle my company's taxation matters, are there any calculation aids available to help me compute the "assessable profits"?
I run a business on my own and need to declare "assessable profits" in the tax return. Must I engage a professional accountant to prepare the accounts?