Accounting Wise’s Post

The pandemic gave me a huge kick up the arse. The extra support we provided to business owners in 2020, shouldn't have been 'extra'. It should have been standard. So that's what we made it. And then went further. Service levels now in 2024 are unrecognisable from 2019. 90 day calls as standard for all business owner clients. Annual Accounts Review meeting discussing results for the year, plans for the next 12 months and extra help that may be needed. Tax services that are helping business owners achieve tax savings of more than £10,000 (not R&D, just making using of allowances, incentives and tax efficiency available to all businesses). Regular e-mail newsletters sharing tips, advice and best practice. Often including examples of recent work where we've helped get  great results for business owners. #businesssupport #businessadvice #accountantsandaccounting

A meticulous approach to maintaining business records can help protect your tax deductions and make an IRS audit much less difficult. Here’s a recent court case illustrating some of the issues involved. #BusinessTaxTips #RecordKeeping #TaxDeductions

Business expense tracking and tax deductions can be difficult to get to grips with, especially as mistakes are easily made throughout the tracking process and subsequently when filing your taxes.  It’s vital that you gain an understanding of what’s needed from you, or you could end up losing money or even getting fined – something that no business owner wants, especially if it’s a relatively new venture.  Read on for essential tips to help you avoid the most common mistakes made in expense tracking and tax filing. https://lnkd.in/gJ_24nwP #smallbusinesscoach #businesscoach #coachingservices #businesscoaches #smallbusinesscoaches #topbusinesscoach #businessexpenses #taxdeductions #financialmanagement #accountingsoftware #expensetracking #cashflow #businessfinance #financetips #bookkeeping #taxplanning #financialhealth #invoicing #smallbusiness #taxcompliance #financialadvice #expensemanagement #budgeting #taxes #financialliteracy #moneymanagement #businessadvice #entrepreneurship #accounting101 #affordableaccounting #financialstrategy #costsavings #moneytips #cashflowmanagement #financialreports #smartspending #businessorganization #taxupdates #deductiontips #financialplanning #efficiency

Running a business is challenging enough don't let taxes add to the stress! Our expert team simplifies handling your business finances, turning complexity into clarity. Focus on what you love while we handle the details. Contact us now and say goodbye to tax headaches! For more details visit this website: https://lnkd.in/gZYYB_aK Fill out the form to start today: https://lnkd.in/gxz8ynTX #mytaxmate #irishtax #irishtaxagency #companyregistration #vat#ros #bookkeepingservices #ros #incometax #irelandtaxservices #taxrelief #rentrelief #workingfromhometax #relativetaxes #martialstatusrefund#tutionfee #remoteaccountant #taxtips #revenue #taxprofessional #taxrefund

As a business owner, you know how frustrating it can be dealing with complex tax rules, unexpected costs, and the constant fear of making mistakes. Taxes shouldn’t be eating into your profits. Here are two effective strategies to help you reduce your tax bill and keep more of your hard-earned money: Capital Allowances: Think of them as discounts for your business investments! When you claim capital allowances, you're getting a break on purchases like equipment and vehicles, reducing your tax bill. It’s like saving money while you invest in the tools and resources that drive your business growth. Expense Optimisation: Maximising your deductions is crucial! By identifying which business expenses can lower your taxes, you’re putting more money back into your business. Keep good records, and watch those tax savings add up! Using capital allowances is straightforward. Whenever your business makes a significant purchase, like new machinery or a company vehicle, you can claim these costs against your profits. This means you'll pay less tax, leaving you with more funds to reinvest in your business. Keep track of all qualifying purchases and consult with a tax advisor to ensure you're making the most of these allowances. For expense optimisation, make it a regular practice to review your business expenses. Look for costs related to office supplies, travel, marketing, and professional services that can be deducted. Good record-keeping is essential – it helps you prove your expenses to HMRC and ensures you don't miss out on any potential savings. By implementing these strategies, you can keep more of your earnings and reinvest them back into your business, fuelling further growth and success. Contact me for more tips and personalised advice on managing your business finances effectively. #TaxTips #BusinessSuccess #UKBusiness #TaxSavings #FinancialFreedom #CapitalAllowances #ExpenseOptimisation #BusinessGrowth #TaxPlanning

Why pay more when you can save? We've compiled 75 expert tips to help you minimise your tax bill and keep more money in your pocket.  Download your FREE guide today and discover strategies that could make a big difference! Don’t miss out—start saving now! https://lnkd.in/eK9rmSjr #businessowner #smallbusiness #taxsaving #freeresource

💡 ** TAX TIME! ** 💡 One of the simplest ways to save money and make tax season easier is to keep personal and business expenses separate. Many small business owners mix them up, leading to missed deductions and extra time sorting through receipts. By opening a dedicated business bank account and credit card, you create a clear paper trail. This not only helps you claim all eligible deductions but also strengthens your case in the event of an audit, potentially saving you money and headaches down the line. Small change, big impact! 💼📊 #BookkeepingTips #SmallBusiness #MoneySaving #TaxTime

As a small business owner, it's important to understand tax deductions and how they can benefit your business. Tax deductions are expenses that can be deducted from your taxable income, reducing the amount of tax you owe. Here are some key tax deductions that small business owners should be aware of: • Home office deduction • Business travel expenses • Business meals and entertainment • Business Insurance • Employee wages and benefits It's important to keep accurate records of all expenses and to work with a qualified accountant or bookkeeper to ensure that you are taking advantage of all available tax deductions. By doing so, you can reduce your tax liability and keep more money in your business. #SmallBusinessTax #TaxDeductions #HomeOfficeDeduction #BusinessTravel #BusinessMeals #BusinessInsurance #EmployeeBenefits #ExpenseTracking #TaxPlanning #TaxPreparation #FinancialManagement #BusinessFinances #TaxProfessional #TaxSoftware #Bookkeeping #BusinessOwners #TaxSavings #IRS #TaxAwareness #TaxEducation

If you operate a business, you know records of income and expenses need to be kept. Specifically, you should carefully record expenses to claim all the tax deductions to which you’re entitled. And you want to make sure you can defend the amounts reported on your tax returns in case you’re ever audited by the IRS. Certain expenses, such as auto, travel, meal and home office expenses, require extra attention because they’re subject to special recordkeeping requirements or limits on deductibility. In addition to keeping good records, make sure to use your business bank account for business purposes only. A business can’t deduct personal expenses. #taxupdates #tax #personaltax #businesstax #deductions #smallbus #smallbusiness #businesstravel #travel