Think about the end of the financial year in October
Friday, October 1, 2010/
I know, I know. It only seems like a few months since the last financial year ended, and you’ll be very happy if you never have to talk to an accountant before Christmas.
But of course, that’s exactly the sort of attitude that makes tax time so much of a stress and hassle. Effective tax planning requires some year-round thought, and it’s a great idea to book an appointment with your accountant to go through some of the strategies that might help you keep your end-of-year tax bill down.
Spending, borrowing and investment decisions you make at the start of the financial year may well impact on your end of financial year position. Similarly, applying for various grants and tax credits needs to be done throughout the year.
Your accountant will also need be able to advise you on the relationship between your business tax situation and your personal tax situation, such that you are always thinking of ways to maximise and protect your wealth.
The more time you put in now, the less hassle you will have next June.
Get it done – today!
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