Alexander Clifford’s Post

Can you answer this tax question... What is the non-separately stated income amount of a calendar year S corporation operating on a accrual basis with the following items? * Gross receipts $300,000 * Interest income $ 25,000 * Royalty Income $ 10,000 * Salary paid to shareholder $ 20,000 A. $ 300,000 B. $ 55,000 C. $ 320,000 D. $ 280,000 Post your answer in the comments below. - https://lnkd.in/emDt264J #TaxPro #TaxTime #TaxPlanning #TaxAdvice #TaxSeason #TaxStrategy #TaxExperts #TaxConsultant #TaxHelp #TaxPreparation #TaxSaving #TaxSolutions #IRSHelp #TaxLaw #TaxCompliance #EAExam #EAStudy #EAExamPrep #EnrolledAgent #TaxProfessional #EACertification #TaxExam #TaxEducation #PassTheEA #EAReview #EAExamTips #EAExamSuccess #TaxSpecialist #EAJourney #EAExamGuide

Are you pushing the boundaries of innovation? The Research & Development (R&D) tax credit is designed for corporations like yours, engaged in innovative activities and product development. 🚀🔬 This incentive allows you to recoup a portion of your R&D expenses, including wages, supplies, and contract research costs. Navigating the criteria for R&D tax credits can be complex, but Bookkeeping Sense Inc. is here to help. We ensure that your innovative activities qualify under the IRS guidelines, helping you foster growth and reduce tax burdens effectively. 👉 Embrace the benefits of innovation! Reach out to us for a strategic approach to leveraging R&D tax credits. #InnovationTaxCredits #RnDTaxCredit #BusinessGrowth #BookkeepingSense

Considering transferring your property to a limited company? It can be a smart, tax-efficient move, but the process is complex. At Spotlight Accounting Limited, our expert property accountants can guide you through every step, ensuring you maximise your tax savings and avoid costly mistakes. Watch our video below to learn more about how we can help you make the best financial decisions for your property portfolio. 🏠🧐 0:00 Introduction 0:14 About Carrie Stokes 1:00 Background 2:30 SPV 3:37 How To Move 5:42 Taxes To Move 6:29 Tax Savings 8:17 Should My Portfolio Be in a Limited Company 10:52 Advantages of SPV 11:53 Disadvantage of SPV 13:17 Next Steps . . . . . #icaewcharteredaccountants #businesstips #charteredaccountant #hmrc #accountingtips #makingtaxdigital #xeroaccounting #businessadvice #smallbusinessuk #shropshirebusiness #accountinguk #bookkeepinguk #accountantsuk #financialplanninguk #budgetinguk #accountingfirmsuk #accountantuk #taxuk #ukaccountants #ukaccountant #ukaccounting #xeroaccountant #xeroadvisor #shropshirelife #shifnalbusiness #businesstip #BusinessTipsOfTheDay #realestate #realestatetips #propertymanagement

Q1: Is there a minimum spending amount for an R&D tax credit claim? No, there’s no minimum required spend for claiming R&D tax credits. Q2: What are the key eligibility requirements? To qualify, your company must: - Be UK-based and subject to Corporation Tax. - Be a going concern. - Engage in qualifying R&D activities with and have incurred eligible expenses. Q3: Are there other factors that could affect my claim? Yes, factors like grants and subcontracting, along with recent rule changes starting 1 April 2024, may impact your claim. We can help assess these specifics. #RDTaxCredits #InnovationFunding #BusinessGrowth #TaxRelief #UKBusiness #SMEs #AccountingTips #STEM #InnovationSupport #BusinessFinance

📂✨ Think that filing your Self-Assessment online means you can skip keeping records? Think again! 📊🔍 No matter how you submit your return, maintaining accurate and detailed records is absolutely essential. Proper documentation not only ensures that your tax return is accurate but also provides protection in case of audits or inquiries from HMRC. Stay organized, keep thorough records, and make your tax process as smooth and stress-free as possible! 💼✅ . . . Want to details about Self-Assesment? Click here: https://lnkd.in/e_cjSych #TaxTips #RecordKeeping #SelfAssessment #MaximizeYourRefund #SmartFiling #FinancialWellness #SmartFinance #TaxSavings #FinancialFreedom #FinBridge #UKTax

Does your business qualify as an R&D Intensive Company? If you answered yes, you could be missing out on some huge tax benefits! And if you're not sure, you're going to want to read on... 👀 In this in-depth guide, written by one of our Accountants Emma Cooper, we'll uncover everything you need to know about R&D #taxrelief schemes, R&D tax credits, how to file an R&D claim (including a step-by-step guide), and much more! 👉 Learn how to maximise your #taxbenefits here: https://lnkd.in/eWvnJYCX #TaxFiling #ResearchAndDevelopment #CorporationTax #Finance #BusinessOwner #SmallBusiness

"Mastering the art of Tax Strategy 💼✨ Stay ahead of the game with these insights! " #TaxStrategy #FinancialPlanning #TaxTips #bookkeepingesolutions #SmallBusinessFinance #SmartInvesting #MoneyManagement #TaxSavings #GrowYourWealth #EconomicEmpowerment #FinancialFreedom

Are you stuck in a never-ending TOXIC tax cycle that looks like this? 🔄 First, your business earns money. Then, you spend money to keep your business running... But every quarter, you're panicking to find the cash to pay your estimated taxes! Here's what you can do to fix it: Figure out your rough effective tax rate (*hint* I can help you with this!). Then, automatically save this percentage of each of your sales. You might need to adjust spending in other areas to account for this, but it's going to SAVE you money down the road in penalties and interest. #accountingandtaxconsulting #taxconsultingservices #tax #accounting #accountingservices #houston #texas #business #accountingandtaxsolutions #taxstrategiesforbusiness #businessaccountingservices #accountingtips #taxtips #bookkeeping #cfo #cfoservices

Debunking common myths about R&D tax credits Misconceptions about R&D tax credits can prevent businesses from taking full advantage of this valuable opportunity. Here’s what you need to know to maximise your claim: ✅Loss-making? You may still be able to claim R&D tax credits. ✅Innovation doesn’t always mean inventing something new. ✅Different doesn't equal innovative. Focus on technical advancements. ✅Claim your time. Even unpaid effort can be eligible. HMRC challenges? With the right approach, success is achievable.