Christopher Clepp’s Post

Don't fall into these traps! As experts in tax planning for limited companies, we've seen it all. Here are a couple of common mistakes to avoid when it comes to reducing corporation tax. ❌ Don't ignore tax-efficient services. Waiting until the last minute to consider tax planning can cost you a lot of time. By utilising tax-efficient services before your company year-end, you can distribute profits strategically and reduce your corporation tax bill for the current year. For example, exploring options such as pension contributions, shareholder protection policies, and relevant life plans can significantly maximise your tax savings. It's important to seek expert advice to assist with structuring these services in the most efficient way. ❌ Don't leave tax planning until it's too late. Many accountants notify their clients only a couple of months or even weeks before their tax is due to be paid. By then, it's often too late to make significant changes. Plan ahead to avoid scrambling at the last minute. We always work proactively with our clients throughout the year, and we conduct a review 6-8 weeks prior to their company year-end to identify tax-saving opportunities and implement effective strategies well in advance of filing deadlines. Stay ahead of the game and avoid these common tax planning pitfalls! ✅ If you are approaching your company year-end, now would be a good time to start considering efficient tax planning for your business! www.mavenaccountancy.co.uk #TaxPlanning #FinancialPlanning #FinancialAdvice #TaxSavings

Virtual Event: Navigating Proposed Capital Gains Tax Changes - Essential Insights for Individuals and Business Owners You are cordially invited to my next virtual workshop on June 5th @ 7 pm. Workshop Topic: We will discuss the recently proposed Capital Gains changes and their impacts on: ·      You and Your Family ·      You and Your Business Additionally, we will share some tax-smart tips and, very importantly, answer your questions. Who Should Attend: ·      Owners of multiple real estate properties ·      Individuals with sizable non-registered investment accounts ·      Those planning to leave an estate worth more than $250,000 ·      Business owners ·      Owners of a holding company Why Attend: Understand the proposed changes and how they affect you. Get tax-smart tips. Have your questions answered by experts. Presenters: Stanley Chan, Investment Advisor, Mandeville Private Client Wilmot George Jr. (CFP, TEP, CLU, CHS), VP of Tax, Retirement, and Estate Planning, CI Global Asset Management Register Now: Please Register Here for this Webinar https://lnkd.in/ejCFDuNR We look forward to your participation! #capitalgains #taxplanning #incometax #income #businessowners #businessplanning #retirementplanning #investing #investmentplanning #legacyplanning #estateplanning #charitablegiving #private #returns #realestate

🏗️ Is Your Business Structure Helping or Hurting Your Taxes? 🏗️ Choosing the right structure for your business is crucial for tax optimization and liability protection. From sole proprietorships to S Corps, there’s a structure that fits your needs! 🔑 Thinking about making a switch? It’s possible—but you’ll need to weigh the costs and complexities. #financialplanning #businessowner #buildingwealth #financialplanner #wealth #smallbusiness #genx #geny #buildingtowardswealth #henrys #abundantwealthprocess #stability #financialfulfillment #highearner #strategicfinancialplanning https://lnkd.in/geH-8R2P

You are cordially invited to my next virtual workshop on June 5th. Workshop Topic: We will discuss the recently proposed Capital Gains changes and their impacts on: ·      You and Your Family ·      You and Your Business Additionally, we will share some tax-smart tips and, very importantly, answer your questions. Who Should Attend: ·      Owners of multiple real estate properties ·      Individuals with sizable non-registered investment accounts ·      Those planning to leave an estate worth more than $250,000 ·      Business owners ·      Owners of a holding company Why Attend: Understand the proposed changes and how they affect you. Get tax-smart tips. Have your questions answered. Presenters: Stanley Chan, Investment Advisor, Mandeville Private Client Wilmot George Jr. (CFP, TEP, CLU, CHS), VP of Tax, Retirement, and Estate Planning, CI Global Asset Management Register Now: Please Register Here for this Webinar https://lnkd.in/ejCFDuNR We look forward to your participation! #taxplanning #capitalgains #tax #investments #estateplanning #realestate #gains #return #future #businessowners

Are your investments causing too much capital gains tax? Understanding capital gains and how they’re taxed is key to potentially reducing your capital gains tax burden. Ask me about our Private Equity, UMA and SMA's - Neil Poehlmann

Strategize Your Business Succession 🏢📈 Transferring your business is a significant milestone, and minimizing taxes is crucial for a smooth transition. Our latest blog post offers expert insights on how to effectively reduce tax burdens during this process. Whether you're planning for retirement or preparing for the next chapter, discover key strategies to protect your financial legacy. Unlock these valuable tips by clicking the link below! https://lnkd.in/gekRRHnu #BusinessSuccession #TaxPlanning

Navigating Business Transitions with Ease 🚀 Passing on the torch of your business can be as challenging as it is rewarding. One key aspect? Minimizing taxes to ensure a prosperous transition. Our latest blog post is a treasure trove of information on this topic, offering strategies that can make a real difference. Whether you're a seasoned entrepreneur or just starting out, these insights are invaluable. Check out the post, and let's discuss! #EntrepreneurLife #TaxEfficiency

For those planning to max out their 401(k)s in 2024 and looking for other tax-efficient savings strategies, the mega backdoor Roth strategy is worth considering. While not every company offers the strategy, many do. Please share if you know of any that do! Check out a recent piece I wrote that breaks down how the strategy works and the long-term impact it can have. #MaxOut401k #MegaBackdoorRoth #TaxSavings #RetirementPlanning #FinancialWellness #InvestSmart #FutureFinance #SavvySavings #WealthBuilding #FinancialStrategies This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. This content does not involve the rendering of personalized investment advice and should not be construed as such. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

Choosing the right investments can not only grow your wealth but also keep more money in your pocket! 🤑 Imagine you have $10,000 to invest. You have two options: Option A, a regular investment, and Option B, a tax-advantaged investment. Option A (Regular Investment): You invest $10,000 in a regular stock. As the stock grows over time, you make a profit, let's say $2,000. When you decide to sell the stock, you'll have to pay capital gains tax on that $2,000 profit. Option B (Tax-Advantaged Investment): You invest the same $10,000, but this time in a tax-advantaged account, like a Roth IRA. As the investment grows and you make a profit, that profit (in this case, the same $2,000) might be tax-free when you withdraw it, as long as you meet certain conditions. In Option B, the tax-advantaged account provides a benefit by potentially allowing you to keep the entire $2,000 profit without having to pay taxes on it. This is just one example, and tax-advantaged investments can take various forms, such as retirement accounts or certain types of savings accounts. So, "investing smartly with tax-advantaged options" essentially means choosing investments that come with tax benefits, allowing you to maximize your returns by minimizing the taxes you owe. Not sure how? Book a FREE virtual consultation with us 👉🏻www.ststaxes.com  or follow us for DAILY useful tax tips. . . . . . 🏷️: #taxrefund #taxpreparer #taxpreparation #irs #tax #taxes #taxseason #taxplanning #taxreturn #taxprofessional #taxtips #taxtime #taxresolution #taxfreeweekend #taxaccountant #taxsavings #taxprofessionals #florida