Ellie Phillips, CPA’s Post

For those that sell products or other services that require sales tax to be submitted, sales taxes are due today!! Need help with your sales taxes? Shoot us a message! #QuickBooksOnline #BFSB #Bookkeepers #BookkeepersforSmallBusinesses #Accounting #SmallBusinesses #SmallBusinessOwner #BusinessOwner

For those that sell products or other services that require sales tax to be submitted, sales taxes are due today!! Need help with your sales taxes? Shoot us a message! #QuickBooksOnline #BFSB #Bookkeepers #BookkeepersforSmallBusinesses #Accounting #SmallBusinesses #SmallBusinessOwner #BusinessOwner

What do you do if you've previously unreported or under-reported sales tax liabilities? Although it may be tempting to brush it under the carpet since it wasn't your fault, there is actually something that you can do which will help you in the long run. A Sales Tax Voluntary Disclosure Agreement is a formal agreement between a taxpayer and a state's taxing authority where the taxpayer voluntarily discloses previously unreported or under-reported sales tax liabilities. These agreements provide businesses with an opportunity to come clean about any tax liabilities they may have inadvertently or unknowingly incurred. By proactively addressing tax issues, businesses can mitigate penalties, streamline compliance processes, and safeguard their reputation and financial well-being. So it turns out something that may have been causing you a lot of stress actually has a straight-forward solution. Our recent blog post delves deeper into the benefits of a Sales Tax VDA, follow the link to read more.

Let’s get down to business! 💼 Did you know, as a business owner, setting up a GST/HST account is your responsibility? Find out if you need one and how to register so you can tackle your tax obligations: https://ow.ly/1SXI50TjnbH [Image description: Two smiling people are standing over an open laptop in a coffee shop. There are bakery items on the table in front of them. “GST/HST filing for businesses. Did you know?”] #CdnTax

Tax Invoices: Staying ATO compliant Tax invoices are an essential part of keeping things in order with the ATO. Here are a few key details you should know: https://lnkd.in/gdAKkBrX

❗️Struggling to Submit Your Sales Tax Return of FBR? 📢 Attention all Sales Tax RegistrationPersons and Tax Consultants! The FBR's recent amendment to Sales Tax Registration (SRO 350(I)/2024) has caused confusion for many taxpayers. If you're an Individual, AOP, or Single Member Company (excluding Manufacturers and Private Limited Companies) and can't submit your monthly Sales Tax Return due to the new business capital declaration requirement, this video is for you! 🎞 In this short ⏲️ 4.5-minute video, I'll guide you through: ▪️Understanding the new regulation ▪️Resolving the business capital declaration issue ▪️Ensuring a smooth Sales Tax Return filing process Watch the video now and save yourself the hassle! Share it with your colleagues and fellows. Let me know in the comments below if you have any questions! #PakistanTaxation #SalesTaxReturn #FBRAmendment #TaxConsultant #BalanceSheetDeclaration Ahsan Shafiq Iqbal Yasir & Company (IY & Co.)

🧐 Are you aware that many tax rebates, especially those related to work expenses, are NOT automatically processed by HMRC? That's right! It means you could be missing out on reclaiming cash that rightfully belongs to you. In our latest article, "Are Tax Rebates Automatic?" we dive deep into the world of HMRC tax rebates. We demystify the process, highlighting the importance of being proactive in claiming work expense rebates. 📝💼 Key takeaways include: Understanding the difference between automatic and claim-based tax rebates. Navigating the claims process, from business mileage to work-from-home expenses. Identifying your eligibility for a tax rebate. With Rebate Mate, navigating the HMRC rebate process has never been simpler. Our team of expert accountants is here to guide you through every step, ensuring accuracy and maximising your rebate potential. 💡💷 Don't let your hard-earned money go unclaimed. It's time to review your tax situation and take action. Contact Rebate Mate today, and let's ensure you reclaim the maximum rebate you're entitled to. 💪🏼🌟 #TaxRebate #HMRC #WorkExpenses #FinancialWellbeing #RebateMate #TaxTips #UKTax #ClaimYourRebate #MoneyMatters

It need not be difficult to remember to pay sales tax. To guarantee compliance, do these easy steps. 💼💰 1. Establish Your Nexus: By determining the states in which your company is present, you can ascertain which ones need you to collect sales tax. 2. Register for Permits: In each state where you have nexus, submit an application for a sales tax permission. 3. Gather the Correct Tax: Verify that, depending on the customer's location, you are collecting sales tax at the appropriate rate. 4. File on Time: Make sure you note the dates of filing in your calendar and send in your sales tax returns on time. 5. Keep Records: Ensure that all sales and taxes collected are accurately documented. By taking these actions, you can stay in compliance and stay out of trouble. #BusinessCompliance #SalesTax #EasySteps Send me a message 📧carenmaygache@𝐠𝐦𝐚𝐢𝐥.𝐜𝐨𝐦 or book a call at https://lnkd.in/gC3ws7Rd with me if this is something you think your company would benefit from, and let's talk about how I can help. https://lnkd.in/gJzx5Np9 #bookkeeper #bookkeeping #smallbusiness

It does not matter what anyone says; 𝐘𝐨𝐮 𝐜𝐚𝐧 𝐞𝐚𝐬𝐢𝐥𝐲 𝐩𝐢𝐧𝐩𝐨𝐢𝐧𝐭 𝐭𝐡𝐞 𝐭𝐫𝐢𝐠𝐠𝐞𝐫𝐬 Yes, you can easily pinpoint the events that can trigger your tax authority to audit your tax affairs. Here are 3 triggers; ❌ Filing Nil Returns for Professionals Does your client have your KRA PIN? 𝐘𝐄𝐒 Do they deduct WHT from you before paying you? 𝐘𝐄𝐒 And you still file a Nil return? 𝐘𝐄𝐒 ❌ Sales Declaration Do the sales you declare under VAT and sales declared under end-year income tax return tally? 𝐍𝐎/ 𝐈 𝐀𝐌 𝐍𝐎𝐓 𝐒𝐔𝐑𝐄 ❌ Salaries Do the salaries you claimed for income tax purposes and salaries declared for PAYE purposes for a particular financial period tally? 𝐍𝐎/ 𝐈 𝐀𝐌 𝐍𝐎𝐓 𝐒𝐔𝐑𝐄 ❌ Gross sales Do you have a turnover higher than Ksh 5 m p.a.? 𝐘𝐄𝐒 Have you registered for VAT?𝐍𝐎 ❌ Instalment taxes Do you pay more than Ksh 40,000 in taxes annually? 𝗬𝗘𝗦 Do you file installment taxes? 𝐍𝐎 𝑰𝒇 𝒚𝒐𝒖 𝒂𝒏𝒔𝒘𝒆𝒓𝒆𝒅 𝒕𝒉𝒆 𝒒𝒖𝒆𝒔𝒕𝒊𝒐𝒏𝒔 , 𝒘𝒐𝒓𝒅 𝒇𝒐𝒓 𝒘𝒐𝒓𝒅, 𝒚𝒐𝒖 𝒏𝒆𝒆𝒅 𝒂 "𝑺𝒕𝒓𝒂𝒕𝒆𝒈𝒊𝒄 𝑨𝒄𝒄𝒐𝒖𝒏𝒕𝒂𝒏𝒕." Anyone can do bookkeeping, but only a strategic accountant can help you with avoiding tax audit triggers. DM "𝙎𝙩𝙧𝙖𝙩𝙚𝙜𝙞𝙘 𝘼𝙘𝙘𝙤𝙪𝙣𝙩𝙞𝙣𝙜" for a 𝙛𝙧𝙚𝙚 15-minute clarity call. #howtoavoidtaxaudits #globallinkedinbootcampwithmuthoni #strategicaccounting