Donna Beddis FCCA’s Post

Have you encountered a PITA (pain in the ...) client and been tempted to charge a PITA tax (say double the price), or give them a I'm too busy right now spiel? PLEASE STOP!!! Learn to say no. Politely. Honestly. With NO room for them to come back again. Thank you for the opportunity to quote. We have decided not to quote. Good luck with your project. Thank you for the opportunity to quote. We will not be quoting. We wish you the best. By charging a PITA tax you'll almost guarantee to make the sale! To someone who is soooo far from your ideal client. Don't, most regret it! By saying you're too busy, you open them to come back when you're not, or for them to say to others or comment on a post 'Don't bother trying them they're too busy', and missing out on business you could've taken on. Saying nothing just creates frustration. Please stop avoiding the issue. Learn to say NO! #faqbusinesstraining #saynopolitely #quoting

🔥 LLC Moolah Mystery: How to Pay Yourself the Smart Way! Hey, business whizzes! 👋 Ever puzzled over how to pay yourself from your LLC without getting tangled in tax troubles? We’ve got the answers! Our fresh-off-the-press article unravels the complexities of LLC owner compensation. Salary, distribution, draw, or guaranteed payment? We break it down for you (and explain what those words actually mean!) 🧩💰 Ready to conquer the LLC compensation conundrum? Or will the money maze leave you dazed and confused? 🤔💼 Dive into our learning center and master the art of smart self-payment. Because in the world of business, knowledge truly is wealth! 💡💵 #LLCPayments #BusinessOwnerBenefits #SmartMoneyMoves #EntrepreneurshipExplained #TaxTales

What structure should my business have? When starting a business, or if you have started a business, the first few questions you should ask an accountant is crucial. In the UK, various business structures exist, each with its own set of advantages and disadvantages. A trustworthy accountant can guide you in selecting the most suitable structure for your business. Different structures of business in the UK are: Sole proprietor: One person who owns the business and operates within this business structure. Partnership: A partnership operates similarly to a sole proprietor but involves two or more partners. Limited liability partnership: Each partner's liability is restricted to their invested amount. Every partner is responsible for paying income tax on the profits generated from the partnership. Limited company: It has a separate legal entity from the people that own the company. Once the corporation tax is paid, the owners can take a salary and additional income can be taken through having dividends if there is sufficient profit within the limited company Each business structure has its own tax structure and legal liabilities. Consulting with an accountant is essential to address these matters accurately. Book your free 60 minute consultation with one of experts today. Carmarthen | Haverfordwest | Lampeter | Tenby | Crosshands | Aberaeron | Aberystwyth 📧 [email protected] #accountancy #accountants #accountantlife #expertadvice #businessgrowth

𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗥𝗲𝗹𝗶𝗲𝗳 𝗣𝗮𝗿𝘁 𝟮 : 𝗪𝗶𝗹𝗹 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗾𝘂𝗮𝗹𝗶𝗳𝘆 𝗳𝗼𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗥𝗲𝗹𝗶𝗲𝗳 𝗮𝗻𝗱 𝗯𝗲 𝗳𝘂𝗹𝗹𝘆 𝗼𝗿 𝗽𝗮𝗿𝘁𝗶𝗮𝗹𝗹𝘆 𝗲𝘅𝗲𝗺𝗽𝘁 𝗳𝗿𝗼𝗺 𝗜𝗻𝗵𝗲𝗿𝗶𝘁𝗮𝗻𝗰𝗲 𝘁𝗮𝘅 𝘄𝗵𝗲𝗻 𝘆𝗼𝘂 𝗱𝗶𝗲? You can get 100% Business Relief on:  ✔     a business or interest in a qualifying business ✔      shares in an unlisted company You can get 50% Business Relief on: ✔         shares controlling more than 50% of the voting rights in a listed company ✔         land, buildings or machinery owned by the deceased and used in a business they were a partner in or controlled ✔        land, buildings or machinery used in the business and held in a trust that it has the right to benefit from You can only get relief if the deceased owned the business or asset for at least 2 years before they died. The business must be qualifying i.e. In order to secure Business relief, the business must be trading in nature, carried on for a gain, rather than a business mainly or wholly engaged in dealing in securities, stocks and shares, land, machinery and buildings, or in making/holding investments. Beware of holding too much cash or investments in a trading company: if they exceed 20% of the business’s annual turnover HMrC is likely to exclude them as non Business Relief assets. If you would like to know more on how to extract your capital from the business tax efficiently, why not have a complimentary chat with one of our advisers. #businessrelief #inheritancetax #businessowners

Embarking on the journey of setting up a Limited Company? Here's your comprehensive guide to getting started: 1. Choose Your Structure: Decide whether a Limited Company is the right fit for your business goals and needs. 2. Name Your Company: Select a unique and memorable name for your company, ensuring it complies with legal requirements. 3. Register with Companies House: Complete the necessary paperwork and register your company with Companies House, the UK's registrar of companies. 4. Appoint Directors and Shareholders: Determine who will be the directors and shareholders of the company, outlining their roles and responsibilities. 5. Draft Articles of Association: Prepare the company's articles of association, which define its internal rules and regulations. 6. Obtain Necessary Licenses and Permits: Depending on your business activities, you may need to obtain licenses or permits to operate legally. 7. Set Up A Business Bank Account: Open a separate business bank account to manage your company's finances effectively. 8. Register For Taxes: Register your company for taxes, including corporation tax, VAT (if applicable), and PAYE for employees. 9. Keep Records: Maintain accurate records of company finances, transactions, and other relevant information. 10. Stay Compliant: Stay up-to-date with legal and regulatory requirements, filing annual accounts, and confirmations statements on time. Remember, setting up a Limited Company involves various legal and administrative steps. Want to find out more information? Visit our website at www.protaxplus.co.uk to find out more information! #limitedcompany #businesssetup #entrepreneurship #businessowner #accountant

💼 Whether you're self-employed or run a limited company, the expenses you can claim vary depending on your business structure! If you’re self-employed, you can deduct certain running costs to calculate your taxable profit, as long as they’re allowable expenses. For those with limited companies, the rules are different—you can deduct business costs from your profits before tax but must report any personal use of items as a company benefit. At In the Black, we’re here to help you navigate these rules and ensure you’re making the most of your allowable claims, ultimately boosting your profits! 💰 Get in touch for a free quote on our services, and let's start making your business more profitable today! #SelfEmployed #LimitedCompany #BusinessExpenses #TaxSavings #FinanceTips #InTheBlack #Account #Local #Bromley #Beceknham #Penge #Services

🌟 Companies, as a structure, are like the grown-ups in the business playground. They're established, they're recognised, and they bring a host of benefits to the table. 🏢 A company stands as a separate legal entity—think of it as a 'synthetic person' that exists independently. It will have its own Tax File Number (TFN) and Australian Business Number (ABN), capable of owning property, entering into contracts, and yes, incurring its own debts. 📄🛡️ This means, unlike sole traders or partnerships, your company's debts aren't yours to shoulder alone. Plus, there's more! With a Trading Pty Ltd, you get to enjoy a fixed rate of tax—often lower than personal tax rates, which can mean more money to reinvest into growth or to cushion your bottom line. 💼💰 But with these benefits come considerations. Setting up a company isn't pocket change, and the ongoing management costs can stack up. Plus, there's the need for meticulous compliance – we're talking more complex reporting requirements that will have you cozying up with your accountant. 🧮❗️ Despite the 'limited liability' shield, directors aren't completely off the hook. There's a level of responsibility that comes with the director's chair, so bear in mind that element of accountability. ⚖️👩💼 If you're thinking about going down the company path, weigh these pros and cons carefully. Consider how the tax advantages could work in your favor, how limited liability can protect you, and whether you're ready for the administrative dance that comes with it. 🤹💭 #BusinessStructures #CompanySetup #TaxAdvantages #Entrepreneurship #BusinessStrategy #AustralianBusiness #HYA #HYAccounting #growthhubconsulting

Will your business qualify for business relief? Read the post below to find out #businessowner

Save yourself a whole lotta dosh! Most of us are really watching what goes in and what comes out atm and if you're a business owner, we'd like to share our top tips on what you can claim for and save yourself a whole lotta dosh! Businesses can claim a wide range of expenses to reduce their taxable profit, thereby lowering the amount of tax they need to pay. These expenses must be incurred wholly and exclusively for the purpose of running the business. Head over to this month's Blog to read more about what you can claim for... expenses:https://lnkd.in/e8fd88xt #businessexpenses #whattoclaimfor #savingmoney

The income tax preparation industry is valued at $15 billion as of 2024, with a 7.6% growth rate over the last 5 years. There's a significant demand for accessible and professional tax services among middle and lower-income earners. Benefits of Owning a Franchise: Low cost of goods in the industry Reduced risk with a proven business strategy Access to corporate support and resources Enhanced visibility through comprehensive marketing strategies 📞 Contact us at: +509-863-3365 🌐 Visit us at: www.LoveMoreBusiness.com Join an industry on the rise and secure your future with a tax franchise! ++++++++++++++++++++++++++++++++++++++++++ Hi, I'm Holly. I am the CEO & Founder of LoveMoreBusiness ▶ I work with successful business owners to help them turn their business into a profitable franchise. ▶ I help entrepreneurs find the perfect business for their situation. ▶ 🔔Follow me to stay in the know of wealth opportunities ▶ Book a free consultation at https://lnkd.in/g3seKRqf #TaxFranchise #BusinessOwnership #FranchiseOpportunity #SmallBusinessGrowth #EntrepreneurLife #IncomeTax #BusinessSuccess #FranchiseSuccess #TaxPreparation #FinancialFreedom