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Tax Season

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Kenya's financial year is coming to an end. We are counting days to the deadline. I know most of us are always wondering why we need to file returns yet it has been deducted in form of PAYE or withholding tax by the employer. First, it is a legal requirement by the government in Kenya since Kenya is a self assessment regime where everyone is required to declare the income earned during the year and pay any due taxes. Second, filing returns enables someone to see whether your employee filed correctly and if you have any tax due or even tax refund! Finally, filing tax returns enables the Kenya revenue authority reconcile accounts of the employer and employee. KRA verifies what the employer filed is really what was deducted. This enhances accountability. Who then needs to file tax returns? Filing returns applies to everyone with a Kra pin. Employed individuals (PAYE) Self-employed persons (sole proprietors, freelancers) Business owners (SMEs and companies) Landlords and investors (ren...
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Investor Beginner Guide

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New to investing, don't know where to start? Start here👇 If you are hesitant to invest because you are confused and unsure of where to start, then this article is for you. I am so glad you are here and that you are taking the first step towards your financial journey, which is financial education and literacy. I hope this article gives you the push to get to the next step which I know can be scary but you need to make that step to see the next one! I will take you through the process step by step from the basics. 1. Source of income. Yes! when I said from the basics I really meant that. A lot of people skip this step. This is the foundation of wealth. You need to have a source of income either from your business or office job etc. The current generation is pressurized to fasten this stage. Imagine its fine, you don't need to join the 'get rich fast' scams. Instant gratification will leave you stuck in a cycle, so slow down and take your time in this step. 2. Understand...
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