🔍 Quick Guide: How the IRS Views Your Personal Property Rentals 3 key classifications that determine your tax treatment: 1. Business Rentals = Schedule C + Self-employment tax 2. For-Profit Activities = Schedule 1, no SE tax 3. Not-for-Profit = Schedule 1, limited deductions 💡Pro tip: Renting to your own business? Structure matters! Let's connect to discuss smart tax strategies. #BusinessTips #TaxAdvice #TaxRules
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💼 Tax Filing Doesn't Have to Be Old-School! 💸 At Prosperr, we simplify tax management for you. Instead of struggling with outdated methods, book a tax assessment session with us or DM to: 🔍 Identify Hidden Savings: See how much you can actually save. 📈 Optimize Beyond Basics: Get insights on additional areas where you can cut costs. 💡 Strategize for the Future: Maximize deductions and reduce tax liabilities effortlessly. Why settle for traditional when you can level up your tax game? 🚀 👉 Visit prosperr.io to learn more. Let's prosper together! #TaxFiling #TaxSavings #SmartFinance #Prosperr #FinancialFreedom
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💰 Unlock Thousands in Tax Relief for Your Business 💰 💰I find it amazing that so many companies are sitting on THOUSANDS of pounds in potential tax relief. This tax relief could significantly reduce their tax liability, freeing up much-needed funds to reinvest back into the business or use as they see fit with their newly found profits. 💰I struggle to understand why anyone wouldn't want to reduce the burden of paying tax. Any smart businessperson should be diving at this opportunity to maximize their profits and minimize their tax obligations within the bounds of the law. 💰If you're one of the smart businesspeople who have had enough of watching your hard-earned profits disappear due to a high tax bills, let's have a no-obligation chat. I'd be happy to explore how we can help you unlock the tax relief you're entitled to and keep more of your money working for your business. 💰Don't leave thousands on the table – take advantage of the tax relief opportunities available to you. Drop a comment below or send me a message if you'd like to discuss further. Eureka Capital Allowances #dontmissout #businessminded #openthediscussion #tax #sickofpayingtax
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💼💰 Understanding Capital Gains Tax for Business Properties💼💰 Selling a property as part of your business? Here's what you need to know about capital gains tax: 🔸No Separate Tax Return: CGT isn't a separate tax; it's included in your business's income tax return. 📊 🔸Calculating CGT: Subtract the purchase price (plus other factors) from the selling price. 🏢 🔸Inclusion Rate: Only 80% of the profit is included in your business's income for tax purposes. 💸 🔸Record-Keeping: Keep detailed records of renovations and documentation of purchase and selling prices. 📝 Smart tax planning and meticulous record-keeping can help minimize your tax liability. Contact us for any tax matters: info@npkconsultancy.co.za 💡 #CapitalGainsTax #BusinessProperty #TaxTips #FinancialPlanning #RecordKeeping
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🗣️ Here’s a little-known secret! Tax agents can often get an extension to file your income tax return until the following March. This takes the pressure off the July deadline and gives you more time to get your paperwork together. Remember a tax agent is actually a business expense and is therefore tax deductible, which contributes to a reduction of your overall tax bill. This week is the deadline for filing your income tax return if you’re self-employed, a contractor, or a small business owner and not using a tax agent. So, if you’re feeling stressed, I can help.
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Tax Season Tips 📝 Getting ready for tax season? Here’s how to stay ahead: Keep records organised throughout the year. Track deductible expenses to maximise savings. Consult a tax professional for tailored advice. Following these tips could make all the difference in saving you time and money! #TaxTips #BookkeepingAdvice #BusinessFinances #TaxAccountant #PenrithAccounting #TaxPlanning #CarmodyAccounting
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Save Capital Gain Tax Did you know you don't always have to pay full capital gains tax on the sale of your extra properties? Thanks to Private Residence Relief (PRR), you can reduce your tax bill significantly! 🏡💰 If you've lived in the property at any point, you can claim PRR, plus get an additional 9 months of relief! This can make a big difference in your taxes. Got multiple properties? This tip could save you a lot. Always a good idea to get professional advice, and that's where we come in! Need help with your capital gains taxes? Give us a call or send us a DM. 📞💬 Stay savvy and save smart! #TaxTips #PrivateResidenceRelief #PRR #CapitalGainsTax #PropertyTax #TaxSavings #BWAccountingSolutions #Finance #SmartSavings
BW Accounting Solutions on Instagram: "🌟 **Tax Tip Alert!** 🌟 Did you know you don’t always have to pay full capital gains tax on the sale of your extra properties? Thanks to Private Residence Relief (PRR), you can reduce your tax bill significantly! 🏡💰 If you’ve lived in the property at any point, you can claim PRR, plus get an additional 9 months of relief! This can make a big difference in
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What's holding you back from claiming tax relief? Are you thinking I know I should be sorting this out, but I don't know where to start? Many business owners try and have a go themselves, but fail Many assume someone else is doing it for them, and they're not Many business owners don't do anything at all Which one are you? Often nothing gets done and business owners are missing out on the tax savings that come from #capitalallowances #landremediationrelief and #RandD #taxrelief Yes, the legislation is tricky to follow, and the rules and rates change with every budget, but you work very hard on the profitability and income of your business so why not work just as hard on claiming your tax savings? If you can't do it why not call in an expert to help What are you working on that you need help with? Get in touch to discuss your project and find out how much tax relief you could be claiming #accountants #fm #construction
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Tax deductions can significantly impact your bottom line as a business owner. From home office expenses to vehicle costs, it's vital to understand what's deductible. Leverage these insights to minimize tax liabilities and maximize savings! 📊💼 https://ow.ly/RFfa30sIbok
Council Post: How To Maximize Tax Deductions As A Business Owner
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🏡 Landlords: Simplifying Your Self Assessment Tax Returns 📊 Are you a landlord looking to navigate the complexities of Self Assessment tax returns? Our latest article breaks down the essentials, helping you manage your property income and expenses with confidence. Ensure compliance and maximise your tax efficiency with our expert insights. 🔗 Read the full guide: https://lnkd.in/eD5Fes7R Master your tax responsibilities with LT Accounting's tailored advice! 🏠 #LTAccounting #Landlords #SelfAssessment #PropertyTax #TaxEfficiency
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It's FRIDAY! Ready to save $$$ on taxes and ensure your business stays compliant? 🤑✨ Let's dive into tax planning strategies for every entity type! 🔍 Sole Proprietorship: Maximize those self-employment and home office deductions! 🔍 Partnership: Use pass-through taxation and allocate income wisely! 🔍 Corporation: Leverage corporate tax rates and business expense deductions! 🔍 LLC: Enjoy flexible tax treatment and consider S-Corp status for extra perks! Plan ahead and make every dollar count. Consult with a tax pro to optimize your strategy! Don’t wait – book your discovery call NOW and let’s tailor your tax plan to perfection! Link in bio! #TaxPlanning #BusinessStrategy #SaveMoney #FinancialTips #TaxSeason #BusinessGrowth #FridayFocus
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