Services

Are You in Korea? Christie & Hana Tax will Help You!

  • Crush the language barrier – Quit wasting time deciphering broken English and arcane tax terms.
  • Single point of Contact – Always know who to contact and avoid bureaucracy.
  • Save money – Never pay more taxes than you need to. Cut expenses without compromising your product or service.
  • Save time – Delegate all that tax paperwork to a professional who will get it right the first time.

Schedule an obligation-free consultation with Christie today


Comprehensive Accounting for Your Business
Ask Christie about Hana Tax’s most requested services:

Tax Filing

Why it’s important:

Save time and avoid fines by getting tax documents sent at the right time, to the right people, with the right information.

What Christie does for you:

  • Quarterly VAT returns
  • Annual Corporate Income tax returns
  • Monthly income tax withholding returns
  • Preparation of all required financial documents
    • Profit & Loss statement
    • Balance Sheet
    • Retained Earnings Sheet
    • Cashflow Statement
  • Tax reconciliation from prepared financial statements
  • Combine everything into a booklet and submit to NTS
  • Provide tax payment slip (if tax due)
  • Help get your tax refund

Bookkeeping

Why it’s important:

Bookkeeping is the first, fundamental step towards accounting best practices. Besides empowering you to track the financial health of your business, proper bookkeeping simplifies tax filing and reduces the risk of tax audits.

What Christie does for you:

  • Give importance advice about your business
    • How to control cash flow
    • Unusual changes in expense ratio
  • Analyze health of your business
    • Expense Ratio
    • Financial Ratio
    • Budget vs. Actual Expenses
  • Produce monthly financial statements
    • Profit & Loss Statement
    • Balance Sheet
  • Enter business transactions into special NTS software
  • Integrate accounting workflow with QuickBooks Online

Payroll

Why it’s important:

Employees are usually one of your largest business expenses. Mismanaged payroll can derail your entire business. In addition, you may be criminally liable for breaking Korean labor laws. Unfortunately, payroll is especially difficult for foreigners due to differences in language and culture.

What Christie does for you:

  • Calculate taxes and insurance from gross salary
  • Report payroll data to tax and insurance offices
  • Determine taxability (for example: is an employee’s medical checkup considered taxable income?)
  • Consult with internal lawyer to ensure LSA compliance

Providing General Advice and Answers to Tax Questions
  • Should I register my business as a sole proprietorship or corporation?
  • When should I convert my sole proprietorship to a corporation?
  • How will Korean tax law change in the near future? Will income tax rates go up or down?
  • In Korea, is payment for business expenses with personal credit cards allowed?
  • How do I get a credit card reader for my business?
  • How can I accept online credit card payments?
  • How much does it cost to accept credit card payments?

  • If I am self-employed, do I need to open a separate business banking account?
  • Is this business expense deductible?
  • What is Thin Capitalization? What are its tax consequences?
  • Does Korea use the straight line method or declining balance method of depreciation?
  • What is the life year (residual life) for depreciation of company assets?
  • How does the Korean NTS treat overseas affiliate “paper companies”?