Another financial year done and what a year it’s been!
If you’re a business owner, ideally 𝐁𝐘 30 JUNE you should have a fair idea of what your tax liability for the 2021 year will be and have all the appropriate documentation executed.
Over the last number of weeks, we have been posting daily tax tips here outlining just some of the ways you can legally organise your business affairs and minimise your tax position for 2021.
This is what great accountants do with their clients to ensure they are just paying the “right amount” of tax so more of your hard earned money stays in your pocket and you know what you’re estimated tax is well in advance of the due date.
I know the 2021 tax is not payable until probably May 2022 but the profits have been made and in the perfect situation, the cash should be in the business bank account (or the majority of it anyway).
Sadly, many business owners have not met their accountant since they did their 2020 tax return and might not meet to discuss their 2021 accounts and tax for another 6-11 months.
That’s just crazy!
A lot will have happened by then and unfortunately tax planning opportunities may have been missed and there might be no money to pay the tax bill as it probably went somewhere else. Yikes!
At Finness Advisory, we catch up with our business clients regularly so you know where you’re going at all times.
Included in our monthly packages is unlimited support throughout the year.
This gives business owners peace of mind that they can pick up the phone anytime and get proactive advice without having to worry about a surprise fee coming their way shortly after.
Business owners need real time information to make real time decisions now more than ever.
Is a fresh start needed for the new financial year?
𝐓𝐈𝐏 𝐎𝐅 𝐓𝐇𝐄 𝐃𝐀𝐘: If you’re a business owner and your accountant hasn’t contacted you to discuss your 2021 tax position, then maybe ask yourself if you are really in the right hands?
Business is hard and everyone deserves the help they need to grow a successful business.
Here’s to growing your business in 2022!
𝐏.𝐒. Next month, Finness Advisory has capacity to take on 4 new clients.
If you want an accountant who will look at ethical ways to reduce your tax, provide peace of mind all year round and give you the help you deserve to grow your business, then why not reach out for a highly confidential chat?
Switching accountants is easy and we do it all for you.
In fact, it can be done in less than 24 hours with just 3 easy steps.
Simple click below, provide a few details and we’ll do the rest.