Many Americans have experienced natural disasters in 2024, leading to “personal casualty losses” if your home or property is damaged. You can only deduct these losses if you itemize on your tax return and the loss results from a federally declared disaster. However, there is an exception: if you have personal casualty gains (insurance proceeds exceed the tax basis), you can deduct non-federally declared disaster losses up to the amount of your gains. 🍃 #Bookkeeping #Payroll #TaxPrep #Accounting #TheCorpOffice #CFO
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Ever wondered what a credit score is and why it's crucial? Join us as we demystify the importance of a healthy credit score and share savvy tips on building credit without accumulating debt, no matter your income level. Let's pave the way to financial success together! Contact us for any assistance in accounting, taxation or payroll: 📞 031 536 8222 ✉️ info@australacc.co.za 🌐 https://lnkd.in/dh8qe4h6 #accounting #payroll #tax #bookkeeper #SAIPAproud #australaccounting
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Save time and money for your business by outsourcing bookkeeping to RBI Services. We recognize the challenges businesses face in managing finances while striving for growth. Our comprehensive bookkeeping solutions not only alleviate the burden of number-crunching but also provide invaluable insights into your company's financial health. Let us handle the tedious tasks while you concentrate on driving your business forward. With RBI Services, financial success is within reach. (804) 677-9516 www.rbisvcs.com #rbiservices #itallbeginswiththerelationship #autoinsurance #homeinsurance #businessinsurance #taxes #bookkeeping #payroll #accounting #taxreturn #humanresources #insurance #lifeinsurance #longtermcareinsurance #healthinsurance #relationshipbusinessandinsuranceservices #payasyougoworkerscomp
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Are you paying for subscriptions you no longer need? Chances are you're not even sure what all the expenses are that leave your bank account on a monthly basis. Regularly reviewing and cancelling unnecessary subscriptions will save your business money. Many businesses fall into the trap of paying for services and software they no longer use. Take the time to audit your subscriptions every few months. You might be surprised at how much you can save. Not only will this cut down on costs, but it will also streamline your operations and improve efficiency. Make subscription audits a regular part of your financial routine and watch your savings grow! #accountant #bookkeepingservices #vat #payroll #taxreturns #nationwide #england #scotland #wales #westmidlands
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Are your ABN details up to date When did you last check your Australian business number (ABN) details on the Australian Business Register (ABR)? If you're not sure, it's time to check if your details are correct. It’s important to check that your physical business address is listed as well as your postal address. Emergency services and government agencies use ABN details to identify businesses that need help during emergencies, such as natural disasters. If your details are incorrect, you may miss out on important help, information, or support like financial grants. Other ABN details include authorised contacts, contact details and business activities. If you don't know how to check, you can contact Powerful Books #powerfulbooks #cashflowmanagement #tax #accounting #bookkeeping #payroll
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Considering a Loan to an Employee? Here's What You Need to Know. As an employer, you may be approached by an employee needing a loan for personal reasons, financial hardship, cost of a travel pass, child care fees . . . the list could go on. What do you do? And more importantly what are the tax implications of helping a loyal employee out? Firstly, any loans below £10, 000 will not attract any further tax or NI treatment. In this case you will still have to arrange a loan agreement and repayment terms set between you and the employee; a simple document will do. The loan should be set up as a liability on the balance sheet of the company and repayments can easily be put through payroll after tax and NI payments have been taken. But what is the loan is more than £10,000? The tax position on these loans, if the interest rate used is either below the official rate used by the HMRC, or no interest is applied, there is a Benefit in Kind (BiK) that has to be declared. This would mean the loan would have to be stated on a P11D form and would result in extra tax being paid by the employee and Class 1A National Insurance being payable by the Company. As always, there are complexities in making a loan to an employee so if you are in the situation where an employee is requesting a loan please do contact us for further advice. https://lnkd.in/dXA24AD7 We all want to help our employees, especially at the moment, but ensuring you understand the implications and have applied the correct tax treatment is vital. #EmployerAdvice #EmployeeLoans #Payroll #TaxCompliance #EmployeeBenefits #BusinessFinance #TaxPlanning #NationalInsurance #HMRC #WorkplaceSupport #BusinessAdvice #FinancialWellbeing #HRSupport #UKBusiness
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