Karlton Dennis’ Post

The end of the tax year is on 5 April, so now is the right time to make sure you are on top of your financial housekeeping. Download our latest free guide which provides a range of tips covering all the main allowances. bit.ly/3U4Ox4Q

🍕 Planning your taxes is a lot like planning the perfect pizza! First, you decide on the type of pizza you want (your financial goals). Then, you carefully choose the best ingredients (income sources, deductions, and credits) to achieve that goal. You spread out your toppings evenly (organize your finances) and make sure everything is balanced. Finally, you bake it just right (strategize your tax plan), so it’s ready to enjoy when tax time rolls around. Here at PFS, we love pizza....but even more we love saving business owners money through tax planning. Consider us your professional chef, when it comes to building the perfect recipe for your business' success. Email: emma@paigefinancial.com to schedule a free consultation call today! #taxes #FinancialPlanning #pizza #pizzalover #businessowner #business #businesssuccess

Own your restaurant's property in a separate LLC? Smart move, but beware of the self-rental tax trap! Self-rental situations can prevent you from offsetting real estate losses against restaurant profits, potentially increasing your tax bill by thousands. 2 Smart Strategies: 1️⃣ Group your self-rental with the operating entity 2️⃣ Adjust your rental income/expenses strategically Potential Benefits: ✅ Avoid 3.8% Net Investment Income Tax ✅ Qualify for Business Income Deduction ✅ Optimize overall tax strategy Every situation is unique. Proper planning is crucial! Dive into our latest blog https://bit.ly/3WHw2mS to understand the tax traps and planning opportunities available for restaurants, bars, and nightclubs that own the real estate from which they operate. #RestaurantRealEstate #TaxStrategy #FinancialPlanning

🚀 Tax Season is here, and it's time to get ahead! Whether you're an attorney juggling cases or a fast food franchise owner balancing the books, we've got insider tips to navigate tax complexities with ease. 📚 Dive into our latest blog post for essential tax season strategies tailored just for you! ✨ https://vist.ly/38vv3 #TaxTips #BookkeepingHeroes

Join us tomorrow for our monthly Tax Update Webinar! Dive deep into the latest in tax news with our esteemed host, Ros Martin. 🌟 Renowned in the field and recently featured on CPAANews, Ros brings invaluable insights and updates. Don't miss out on the chance to stay ahead in your tax knowledge. 🔗 Get to know Ros Martin before the webinar: https://lnkd.in/gVVufXZW #TaxUpdate #Webinar #CPAANews #MeetTheExpert

hey! Where my nerd herd at?? Recently learned of this book "Taxes Have Consequences: An Income Tax History of the United States" written by Art Laffer, and others. I'm certainly no supply side only kind of guy, but this really bucks against the prevailing wisdom from the Piketty, Saez, Stantcheva crowd... as I understand it. I wish I had time to read this book. Link below from Mises Institute:

I'm a bit late to the party "🤭" here. Most accountants talk about this in Nov/Dec typically... But it's our "Christmas" party tonight. (yay tax relief on pints! 🍺) technically it's an annual function, we won't be pulling any crackers 😂 I quite like organising stuff in January: 1) It's nice to get a wee break from the tax compliance frenzy. 2) There aren't too many conflicts as people tend to leave me alone to suffer in my compliance hell (thank you!) 3) The hospitality venues tend to appreciate a bit of business when they are quieter. Cash flow management is critical for all businesses. The game is to try and spend as close to the £150 per head budget as you can without going over (a bit like that game when filling up the car ⛽️)

Tax tip Tuesday!!! Listen, although business meals are tax-deductible, you must ensure you're properly writing them off. Here are seven ways you can correctly write off meals as a tax deduction ✅ Food for the office ✅ Businesses with clients ✅ Meals while traveling for business ✅ Meals while attending a conference ✅ Company holiday parties ✅ Dinner for employees who are working late ✅ Food & beverages provided to the public for a cause These are just a few. There are other strategies on how to maximize this deduction Get with a Tax Advisor to find out how Contact Us ASAP. Time is running out . . . . #taxseason #taxplanning #entreprenuers #smallbusiness #womeninbusiness

Navigating FICA Tax Credits for Restaurant Success! Join us as we guide restaurant owners through the complexities of FICA tax credits. Uncover the advantages of incorporating these credits into your financial strategy, turning tax savings into a win-win for your business. #ficataxcredit #restauranttips #taxsavings #ficatiptaxcredit

🍽️ Writing off solo meals isn't typically a legitimate deduction for your business... Generally, you need to have a business purpose and be meeting with an employee, client, or potential client! But, there is a certain scenario when a solo meal CAN be a write-off. When you're traveling away from your tax home for business, meals during your travel can be deductible if they are ordinary, necessary, and NOT lavish. And as always, save your receipts!! 🧾 #taxtime #moneytips #taxprofessional