Are you considering opting out of Child Benefit payments? Ensure you're up-to-date with tax charges until your payments stop. Let us guide you through the process smoothly! #FinanceTips 👉🏻https://lnkd.in/gMeWixD5
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There are many credits and deductions available for dependents. One is the Other Dependent Credit (ODC). You can claim this credit for dependents that won’t meet the qualifications for some other credits. The credit amount is not as much as some of the others and is non refundable. It is still an option and no reason to leave money on the table. Like and comment. #yourtaxconnect #taxes #dependents #credits #refunds #deductions
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🔍 Understanding When Your Child’s Income is Taxed on You 🧒💵 As a parent, you may want to give your child a financial head start. But be aware that if the money you gift them generates more than £100 in interest, it could be taxed at your rate instead of theirs! This anti-avoidance rule ensures that parents don’t use their children’s tax-free allowances to reduce their own tax liability. Read more about how to manage your child’s income and avoid potential tax pitfalls on our most recent news post https://lnkd.in/eRjuPCpH
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Looking to streamline your finances? Opt out of Child Benefit payments online if you’re meeting the high income threshold! 📝 Let’s ensure you're set for tax season! #SmartMoney 👉🏻https://buff.ly/3YfOIw5
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Here are some benefits of filing your income tax return: 1. Claim your refund! If you've overpaid taxes throughout the year, filing your return ensures you get that money back. 2. Unlock loan approvals. Many lenders require income tax returns as proof of income. Filing on time can make securing loans for future endeavors smoother. 3. Build a strong financial footprint. Having a filed tax return history demonstrates financial responsibility and can be helpful for various applications like visa processing or insurance. 4. Carry forward losses (if applicable). If you've faced business losses, filing ensures you can utilize them to offset future income and potentially reduce tax liability. 5. Claim deductions and exemptions. The government offers various deductions and exemptions to ease the tax burden on citizens. Filing allows you to take advantage of these benefits and potentially lower your tax bill. Remember, filing your income tax return is not just a duty, it's an opportunity to claim your rights and benefits. . Don't miss out! . #TaxFiling #Benefits #FinancialPlanning #Refund #LoanApproval #FinancialResponsibility #filingtaxes #incometax #fastsolutions
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📢 **Important Notice for Non-Filers: Proposed Tax Raise on Cash Withdrawals** The Federal Board of Revenue (FBR) has proposed a significant withholding tax (WHT) increase for non-filers on bank cash withdrawals. Here's what you need to know: 💸 **Higher Tax Rates**: Non-filers will face higher WHT rates on all bank cash withdrawals. This means more of your money will go towards taxes if you’re not filing your tax returns. 🏦 **Impact on Banking**: Every time you withdraw cash from your bank account, the increased tax rate will apply, affecting your overall finances. 📈 **Stay Compliant**: Avoid these higher rates by filing your taxes. Staying compliant and filing your returns is essential to prevent unnecessary financial burdens. Ensure you're informed and take action to protect your finances. File your taxes today and avoid the proposed WHT hike! ✅Contact us: www.indus-bpo.com #TaxAlert #WithholdingTax #NonFilers #FBRUpdate #CashWithdrawals #StayInformed #PakistaniTax #TaxSeason2025 #FinancialAwareness #IndusBPO #LetsDoItRight
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Do you feel overwhelmed by the High Income Child Benefit Charge? If your income is over £60,000, check your eligibility and decide how to proceed! 🧐 Let’s navigate tax together! #FinanceTips 👉🏻https://buff.ly/3YfOIw5
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Turn often overlooked opportunities into a bigger refund. Most people leave cash on the table simply because they don’t know where to look. Don’t let that be you. Knowledge is power, and in this case, it’s also money. Find out 25 deductions and credits you may be able to claim. Read the full article here: https://lnkd.in/g72Kjvjn Repost this to benefit others. ➡ Follow Us for More! #taxsavings #financialtips #moneymatters #canadarefund #thewealthycorner
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#DEGAandBUSINESS We want to remind you that from May 1, 2024 an extract on the status of settlements starting from 2013 became available to taxpayers in their electronic account📆 🔹In particular, it is now possible to obtain reports for each year separately and in the context of taxes, fees, payments, as well as unified social contributions, as opposed to receiving such a document only for the reporting periods of the current year. 🔹In addition, separate functionality has become available for payers who have a tax debt on the day of submitting a Request to receive an extract on the status of settlements with the budgets and trust funds of the State Tax Service for calculating the penalty that will be accrued if such a debt is repaid by the current date. #DEGAATTORNEYS
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Are you sure you're missing out on Child Benefit? 🍼 Restart payments easily online if you opted out due to tax charges and still qualify. Let’s sort it out and ensure you claim what's yours! #FamilyFinance 👉🏻 buff.ly/4etnZl4
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Overpayment of Taxes: When you receive a tax refund, it really means that you gave the government an interest-free loan. That money could have been working for you throughout the year. Potential Profit: If that money had been invested or even just placed in a savings account with interest, it could have earned income. With current interest rates, one could have earned about 5%. Financial Literacy: People often celebrate tax refunds because they are perceived as an unexpected bonus or additional income. However, a more sensible approach is to try to pay taxes accurately according to calculations to get the most benefit from your money throughout the year. In general, the idea is to manage your finances better by avoiding tax overpayments and making the most of your funds. Do you agree? #TaxRefund #FinancialLiteracy #MoneyManagement #InterestFreeLoan #TaxOverpayment #FinancialPlanning #InvestWisely #SmartMoney #PersonalFinance #SaveAndEarn #Accountingpro #USA
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