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Can you ask better tax questions

Tan Lee Ling

Tan Lee Ling

Extract the full benefits

 

To obtain the full benefit of the tax seminar with Dr Choong, asking tax questions well is essential.

Here are some pointers to help you frame your questions better and extract a more specific answer that adds value. 

Asking good questions is essential to extract a practical answer from Dr Choong. 

To pinpoint the right solution, we need to provide sufficient depth in our question. 

Here are some pointers to keep your question on the right track : 

 

  • Skip general questions, zoom in on specific ones. We will only get a general answer when we ask a general question. Drill deeper, put in specific questions. Example : 

    General question     – foreign source income taxable after 31 December? 
    Specific question – I earn rental income from overseas properties. After 31 December, if I transfer them back to Malaysia, I will be taxed as foreign-sourced income?

 

  • Set the Context First. Show the forest before you talk about the tree. Set the context, let Dr Choong know the taxpayer’s background, the subject matter in simple words or even a flow chart. Outline the background (context) of your case, then sequence your questions so that he can see what your concerns are clearly.

    Example :
    Without context – Trade US shares is taxable?
    With context – I trade US shares on a part-time basis at night, the income from share trading last year made up 20% of my total annual income. This year it goes up to 50+%. Should I declare this income? If yes, do you recommend setting up a company to do share trading?
  • Ask even if it sounds naive. Don’t be scared to look stupid; just go on to ask that innocent question! Usually, the answer you get differs many times from the answer you thought you’d get. And once you know what’s going on, you’ll be a lot smarter than the people acting on wrong information. Instead of playing along, it is always nicer for him to know what you don’t understand. Feel free to ask the obvious question as it can be the most important one.

    Example :     Foreign source income means as long as it is capital, no need to tax, right? 
  • Focus your questions ask one thing at a time. To get more complete answers, craft shorter questions, each of which covers a single point. If you want to know two different things, ask them in subquestions. That way, your question will be crystal clear. 

    May you get the answer you need during the seminar! 

Reference : Dummies . 

 

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Tan Lee Ling
Tan Lee Ling
Tax Consultant by training in the Big Four and trained several years with Dr Choong. Being a Chartered Accountant with a law degree. Specialised in compliance, tax planning and tax investigation in her early years. Being in tax for 12 years, to her Tax is like a tree, it is the life force for the country, tax is dynamic, continuously changing and growing. Lee Ling is the conduit in charge of not just sharing these tax changes, also to bring Dr Choong's brilliant tax planning to the tax professionals and business community.

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Tan Lee Ling
Tax Consultant by training in the Big Four and trained several years with Dr Choong. Being a Chartered Accountant with a law degree. Specialised in compliance, tax planning and tax investigation in her early years. Being in tax for 12 years, to her Tax is like a tree, it is the life force for the country, tax is dynamic, continuously changing and growing. Lee Ling is the conduit in charge of not just sharing these tax changes, also to bring Dr Choong's brilliant tax planning to the tax professionals and business community.
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