PGA of America’s Post

Kicking off our training with some fun icebreakers! 🌟🎉 Building connections before diving into the tax talk. #TeamBuilding #TrainingDay #IcebreakerFun #tax #audit #kkco

Daily Tax Minute: Diving deeper than "self-prepared" and "paid preparer" It seems that many are misled into setting up LLCs, electing S corporation status, and then find out that the costs outweigh the benefits. We discuss the basics you want to consider.

Ensuring compliance is key! Today, we're diving into #VATHealthCheck to ensure your every record and procedure aligns with tax regulations. #TaxCompliance #BusinessAudit #FinancialReview #VATRecords #TaxRegulations #AuditProcess #BusinessCompliance #FinancialHealth #TransparentFinance #StayCompliant #BusinessStandards #TaxAudit #AccountingReview #BusinessEfficiency

Excited to embark on your Canadian property journey? Hold on! Before diving in, it's crucial to understand the legal landscape. Some key considerations: 1)Land Transfer Tax 2) Title Insurance 3)Taxation 4) Financing Ready to navigate the legalities with confidence? Comment below with your questions, and let's get you started! Contact us Today: (416) 654-7653 #CanadianRealEstate #LegalConsiderations #PropertyPurchase #realestatepartner #guidingyouhome #realtorlifestyle #realtorlife #homebuyertips

If you're diving deep into the world of #CreativeIndustry tax reliefs, you’ll want to check out this month’s 𝗧𝗮𝘅 𝗔𝗱𝘃𝗶𝘀𝗲𝗿 magazine for a detailed techy analysis. However, there’s a few additional details that will help you if you're currently working through the process of claiming #OrchestraTaxRelief... 👇 📌 Since 1 April 2024, a new online form has been introduced, but it’s causing some confusion: 1️⃣ It quotes a 45% rate for non-touring projects, even though the actual rate is 50% until 1 April 2025. 2️⃣ It incorrectly differentiates between touring and non-touring, when the same rate applies to both! Smaller orchestras, who often handle their own OTR claims, deserve clearer guidance from HMRC. Are you navigating OTR claims? Drop a comment if you’ve had issues, or if you need help clarifying the new rules! 📝👇 #OrchestraTaxRelief #HMRCConfusion #TaxTips #MusicIndustry #SelfManagedOrchestras #CreativeFunding #ClaimYourCredit #OTRHelp #TaxGuidance #TheBusinessOfMusic #MusiciansTaxAdvisor Here's the link to the article if you fancy a read - https://lnkd.in/eTzwirWC

Super Yacht Ownership – VAT (it’s a minefield) The Mediterranean is the hot spot of the super yacht industry, but to enjoy what the Mediterranean has to offer, a yacht owner needs to navigate what can appear to be a minefield of legal and VAT considerations. Any yacht owner who is planning to operate their yacht in the EU must consider VAT. VAT arrangements can be complex and there are many factors that may need to be considered. If you are going to be using your yacht in the EU then you must comply with the relevant VAT regulations in each EU Member State. If you are planning to take delivery of a new-build yacht, then it is vital that the arrangements are correctly structured before the project commences, otherwise VAT may become an unnecessary expense. If your yacht is being supplied from outside the EU, you need to consider that VAT will be applicable on entry into the EU. Likewise, if your yacht is being built and then exported from the EU, you will need to take appropriate advice before the yacht returns to the EU. It is therefore essential, to obtain professional advice before you agree to place ownership of your yacht into a structure to ensure that the ownership and management properly supports the yachts operations and eliminates any exposure to VAT. LJ Fiduciary’s yachting team have extensive experience in structuring and administering all the necessary requirements associated with yacht ownership, whilst proudly working alongside a select panel of external and highly regarded institutions, tax and legal specialists to ensure the highest levels of compliance with all tax, legal and regulatory requirements. #tax #planning #vatcompliance #management #experience #legal #project #yachtingindustry #yachting #compliance

Tax season is underway, so before diving into paperwork, learn some helpful tips from the experts.

The classification or registration of a vessel as a ‘passenger vessel’ or ‘commercial yacht’ does not define whether a vessel is exempt for VAT purposes. What matters is how the vessel is hired and used. Read our Blog to see why: https://lnkd.in/eCwFswkm #taxsafe #customsandVAT #yachtingVAT

In New Zealand, John owns a commercial sailing yacht that he also uses for personal use with family and friends. On April 1st, the GST tax treatment for mixed-use assets will be updated. This is good news for John as it will simplify the previously complex task of dividing GST claims between business and private expenses. John will be entitled to claim 100% of the GST on costs purely related to generating income for his business, such as online ads to advertise his sailing trips. However, maintaining precise records of his yacht's commercial versus private usage remains crucial. This is where SeaLogs can help; we offer a streamlined maritime platform so you can keep track of everything related to your vessel, creating separation between private and commercial trips. This way, you can help ensure that you remain compliant while optimizing your GST claims and keep your accountant happy. #sealogs #nottaxprofessionals #vesselmanagement #businessvsprivate #digital #elogs #logbooks #maintenance #gst #newzealand

I mentioned a little while back that the ATO were gathering information on lifestyle assets owned by people in order to determine that they are accounting for all their income and ultimately paying the correct amount of tax. Whilst not everyone owns a private jet or luxury yacht, it does go beyond that high-end level. If you have your tax affairs in order, there is nothing to worry about. If you're not sure that they are in order, get in touch so we can ensure they are. #accountant #advisor #virtualcfo #coach #mentor #author