Podcasts about save tax

We look at tips to help save taxes

Welcome back to another episode of the 360 Money Matters Podcast!  In this episode, we discussed the transition to retirement strategy. Originally designed to be able to allow people to access their superannuation whilst not fully retired. However for those over 60 and still working, utlising this to save money on tax can be a very effective strategy. Additionally, since many people are not aware of these options, we emphasized the essential role of having a financial advisor to maximize your chances. When comparing this investment method to other strategies, such as negative gearing properties, we emphasized the substantial and guaranteed tax savings it offers. - This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis &  Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of AMP Financial Planning – AFSL 232706   Episode Highlights The concept of transition to retirement strategy Overview of superannuation Transitioning into retirement Use of transition to retirement strategies to capitalize on tax arbitrage and enhance wealth The tax benefits of the transition to retirement strategy Limitations and parameters of this strategy Benefits of the strategy Why people aren't utilizing the transition to retirement strategy   Connect with Billy and Andrew! 360 Financial Strategists    Check out our latest episode here:  Apple Podcast Spotify Google Podcast  

What are the best ways to save tax for a small business? Listen on…. In this episode Dan gives you an overview of 3 key areas where you can save tax. He chats about records, companies, partnerships, sole traders, nurse's socks…. all this and more on today's HeelanHub! www.heelanassociates.co.uk/podcast - the show for UK small business owners.

In this week's episode of The Investors Corner, Mike and Andy are joined by Amanda Perrotton of BellHowleyPerrotton, an award winning tax and law advisory firm based in London. Amanda has over 20 years experience within legal practice and is dual qualified enabling her to practise in Ireland as well as England and Wales. Amanda's clients cover a large cross section of industry, giving her a broad spectrum of experience in relation to both commercial, corporate and property transactions. Here are some of the key topics we discuss: Capital Gains Tax Stats for Landlords Exploring the current capital gains tax landscape for property owners Tax Efficiency Strategies for Landlords Uncovering expert tips and strategies to optimise tax efficiency  Incorporation for Landlords Pros and cons of incorporating your property business Are Paying Fees Worth It to Save Tax? Analysing the cost-effectiveness of hiring tax professionals or consultants Joint Ventures for Landlords Exploring the concept of joint ventures in property investment Managing Shares When Incorporating Property Portfolio Strategies for dividing and managing shares among multiple stakeholders. Our mission is to provide our subscribers with industry breaking news, letting legislation changes and market trends. So, make sure you hit that subscribe button ladies and gents. Your hosts are Andy Brown, Ian Macbeth & Mike Robson Links for social media: Facebook – https://www.facebook.com/TheLandlordPage Website – https://avocadopropertyagents.co.uk/landlords LinkedIn - https://www.linkedin.com/company/thelandlordpagepodcast/  

In this episode of the Mo Money podcast, we dive deep onto investment bonds, which is essentially an investment account with some tax concessions that can help you build your investments and investment income faster.  We unpack the key rules that you need to understand how the products work, as well as who they can be good for, and some of the strategy considerations when you invest. Now this episode is perfect for anyone that wants to invest smart, and doesn't want to pay more than their fair share in tax.   Want to make smarter money moves and get ahead faster?  Upcoming events: https://www.eventbrite.com.au/o/ben-nash-pivot-wealth-34379655697 Learn more about Pivot Wealth: https://pivotwealth.com.au/ Check out Ben's book, Get Unstuck: https://www.getunstuckbook.com.au/   Check us out on socials:    TikTok: https://www.tiktok.com/@bentalksmoney Instagram: https://www.instagram.com/pivotwealth/ Youtube: https://www.youtube.com/c/BenNashPivot Facebook: https://www.facebook.com/pivotwealth/ Chat about how Pivot Wealth can help with your money: https://calendly.com/pivot-new-clients/intro-chat-w-pivot-wealth   Note: The advice shared on this podcast is general in nature and does not consider your individual circumstances. The podcast exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, and TMD and obtain appropriate financial advice tailored towards your needs. Ben Nash and Pivot Wealth are authorised representatives of Fish Tacos Pty Ltd, ABN 14 649 248 082, AFSL 533055

Its that time of year again where we let you know the actions you can take in your small business before 30 June to save tax!

If you need financial relief to invest in properties despite the high costs, then delve deep into this episode with Erik Oliver as he uncovers the power of cost segregation and how this technique can help you save substantial tax dollars, accelerate depreciation deductions, and boost your investment potential. Hop in to keep more money in your pocket today!   Topics on Today's Episode  Cost segregation: What is it, and how it works?  A comprehensive guide to bonus depreciation on your properties  Benefits of doing a cost segregation study on your assets  How to avoid depreciation recapture The importance of hiring a tax accountant for your real estate business    Resources/Links mentioned IRS Tax-Free Wealth by Tom Wheelwright | Kindle and Paperback    Looking for a first-class cost segregation study? Submit the form by visiting https://costsegauthority.com/contact-us/ and get a tax-saving analysis free of charge!   About Erik Oliver Erik holds a Bachelor of Applied Science in Accounting from Westminster College. Prior to joining Cost Segregation Authority, he was an Operations Manager for a multi-million dollar landscaping and design firm in Long Island, NY. Since heading west and joining Cost Segregation Authority, Erik has been speaking at local, regional, and national events. He brings with him a passion for identifying cost savings and educating commercial real estate owners on the benefits of cost segregation.   Connect with Erik Website: Cost Segregation Authority Phone Number: (602) 568 - 0032   Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey's book, Copy Your Way to Success, and learn how apartment investing can change your life today!   Don't forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.

Wondering how to save tax as a small business? Dan runs you through the basics. He chats about records, pay, dividends, education…. all this and more on today's HeelanHub! www.heelanassociates.co.uk/podcast - the show for UK small business owners. info@heelanassociates.co.uk 02392 240040

Today Jonny is joined by Cost Segregation Expert and the Vice President of Business Development of Cost Segregation Authority, LLC, Erik Oliver.They discuss:1. What is cost segregation?2. Bonus depreciation3. Things to know about having a cost segregationErik Oliver has been with the Cost Segregation Authority for 5 years helping real estate investors save millions of tax dollars. Erik often speaks at local, regional, and national events on cost segregation and other tax-saving strategies. He brings with him a passion for identifying cost savings and educating commercial real estate owners on the benefits of cost segregation.Learn more about Erik:Website: https://costsegauthority.com/Email: erik@costsegauthority.comPhone: 602-568-0032Connect with Jonny!Cattani Capital Group: https://cattanicapitalgroup.com/Invest with us: invest@cattanicapitalgroup.comLinkedIn: https://www.linkedin.com/in/jonathan-cattani-53159b179/Jonny's Instagram: https://www.instagram.com/jonnycattani/IRR Podcast Instagram: https://www.instagram.com/theirrpodcast/TikTok: https://www.tiktok.com/@jonnycattaniYouTube: https://www.youtube.com/channel/UCljEz4pq_paQ9keABhJzt0AFacebook: https://www.facebook.com/jonathan.cattani.1

Jacqui Cooper (Host: JCooperTravels-CryptoMom2-LoveTravelScotland) speaks with Rand (Solar Expert) about how families can save on energy with a Home Energy Saving Hack Tip Sheet & learn how to save money by exploring solar in 2023. Email Jacqui at jcoopersolutions@gmail.com for a copy of The HESH Report - 12 HOMEOWNER ENERGY SAVINGS HACKS as well as a complimentary energy analysis to learn if solar can help you save money. --- Send in a voice message: https://podcasters.spotify.com/pod/show/jacqui-cooper/message

Dr. Friday 0:00 Good day. I'm Dr. Friday, President of Dr. Friday's Tax and Financial firm. To get more info go to www.drfriday.com. This is a one-minute moment. Dr. Friday 0:12 We are wanting to try to find ways for you to be able to save tax dollars. But also keep in mind, sometimes people work so hard to find every single tax deduction that they kind of bite themselves because they're not able to go and borrow money. I had a situation recently where someone legally was deducting and taking everything they needed to take off on their tax return. But by doing it because they were a small home based business that the loan or the lending office was saying, "Hey, we we don't see where you make any money, how are you surviving?" So you need to make sure that you're also looking at the big picture if you need help, call me at 615-367-0819. Announcer 0:51 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.

If you want to pay less tax, Watch This! Most property investors (SURPRISINGLY) still don't know how to reduce their tax liability   It's so simple.    In this episode Mike Mortlock from MCG Quantity Surveyors reveals a DEAD EASY way to save thousands of dollars in tax, even for old properties!     This 20 minutes of your time will have a huge Return on Investment!  Discussion Points: 00:00: Introduction 01:40: Mike's background 03:06: The importance of depreciation  05:02: The purpose of quantity surveyors  07:03: Depreciation in older properties 11:42: Estimating depreciation  14:36: Commercial vs residential  17:05: Differences in quantity surveyors 21:08: Mike's final advice   23:35: Conclusion    About The Host: Subscribe to Aus Property Mastery with PK for no BS, “straight to the point” property investing strategies and data-driven insights about the Australian housing market - the only property podcast not run by a “Buyers Agent”. You can listen to Aus Property Mastery on Apple Podcasts, Spotify, Google Podcasts, & Stitcher.   PK Gupta is the founder of the Property Investment Accelerator — Australia's #1 Rated And ONLY 100% Independent Real Estate Course & Mentorship Program that helps people achieve passive income through property investing using DATA, WITHOUT wasting months doing "research", spending weekends at inspections OR dropping $10-20k on Buyers Agents each time. Resources: Watch FREE Trainings On Our Website

All new Ask Farnoosh. Listeners want to learn about the best tax-wise way to invest for retirement, the smartest places to save (CDs or I Bonds?), whether short or long-term disability leave can hurt your chances of qualifying for Public Service Loan Forgiveness and whether it's wise to buy universal life insurance. Grab your copy of the SO MONEY Page-A-Day CALENDAR. Save 20% with the code SOMONEY23 on PageaDay.com Learn more about your ad choices. Visit megaphone.fm/adchoices

This week Stuart & Mena discuss what is a dump company – also referred to as a corporate beneficiary or non-trading investment company. This discussing includes:  What is a corporate beneficiary and how is it used? Advantages of a corporate beneficiary? Disadvantages of corporate beneficiary? Yet again, this topic demonstrates that any tax management strategies must align with your investment strategy as saving tax alone will not help you become financially independent. If this episode resonated with you, I'd love to hear your thoughts! Sharing your feedback on your favourite podcast platform helps me expand my reach and connect with more incredible listeners like you. Thank you deeply for being a part of this journey! To subscribe to our weekly email: https://www.prosolution.com.au/stay-connected/ SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here: https://prosolution.com.au/books. Work with Stuart & Mena's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. To accomplish this, our multidisciplinary team of experts collaborate extensively on behalf of our clients, ensuring thorough exploration of all potential opportunities. This collaborative method enhances the value we deliver to our clients. Visit: https://prosolution.com.au. Follow us on socials: Stuart: Twitter/X: https://twitter.com/StuartWemyss and LinkedIn: https://www.linkedin.com/in/stuartwemyss/ Mena: LinkedIn: ...

Mint's Shipra spoke to Sandeep Sehgal, partner-tax, AKM Global about tax compliance rules and the various deadlines and ensuing penalties for business owners

Sukesh Tedla is one of the founding team members of Telos Blockchain, and the Chairman of the Swedish Blockchain Association with a passion for simplifying complex technology for the masses. He is currently building Kryptoskatt - a platform that believes in driving mass adoption for the next wave of Web 3.0 users by making crypto taxes simple.Resources:Kryptoskatt Website: https://kryptoskatt.comKryptoskatt on Twitter: https://twitter.com/kryptoskattSukesh on Twitter: https://twitter.com/sukeshtedlaSukesh on Linkedin: https://www.linkedin.com/in/sukeshtedlaTranscript and Chapter Markers: https://www.buzzsprout.com/1968123/11379364 The MetaRoy Podcast is featured in:1. Top 20 Web 3.0 Podcast by FeedSpot2. Top 100 Technology Podcasts by GoodpodsFor more Web 3.0 content, subscribe to The MetaRoy Podcast on Apple Podcasts, Spotify or on your favorite podcast app.Join the Discussion on the MetaRoyVerse Community:Telegram: https://t.me/metaroyverseDiscord: https://discord.com/invite/aTMD29QYaTFollow us on Social Media to get notified when new episodes are released:Twitter: https://twitter.com/TheMetaRoyInstagram: https://www.instagram.com/TheMetaRoyTelegram: https://t.me/TheMetaRoyPodcastLinkedIn: https://www.linkedin.com/company/TheM...YouTube: https://www.youtube.com/channel/UCcTgICVk8IvK0D5JEO-1YCAFacebook: https://facebook.com/TheMetaRoyProducts:1. Get a Ledger Hardware Wallet from Ledger's Official Website: https://shop.ledger.com?r=e8e8c9fddde62. Start your Podcast Journey with Buzzsprout (Get a $20 Amazon Gift Card upon signing up with this link): https://www.buzzsprout.com/?referrer_id=1950635DISCLAIMER:1. The information contained herein is for informational and entertainment purposes only. Nothing herein shall be construed to be financial, legal or tax advice. Trading cryptocurrencies poses a considerable risk of loss and the audience is advised to do their own research before making any decisions.2. I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links which I may earn a small commission from, at no additional cost to you.Support the show

Sheri MacMillan, Founder and CEO of MacMillan Estate Planning, joins host Wayne Nelson to chat about the risks of inflation, the safety of Trusts, and how to protect our estates from undue taxation.

In this episode, I sit down with Emmanuel Georga, a partner of accounting firm AH Jackson & Co. We discuss how property investors should protect their assets and how they can save as much tax as possible. Throughout this episode, we also cover buying property in your own name vs trusts vs company structures for wage earners and business owners. Whether you're a new or established property investor, it's these types of conversations that should be prioritised (even before suburb selection) and are critical to your success! Discussion Points: 00:00 Introduction 1:55: The importance of entity structure 3:58: Buying in your own name vs trust vs company structure 6:15: Buying property to save tax? 9:30: “Bucket companies” 14:59: Learning from past mistakes 17:23 Keep structuring simple 19:42: How to find the right accountant  21:51: Conclusion    About The Host:   Subscribe to Aus Property Mastery with PK for no BS, “straight to the point” property investing strategies and data-driven insights about the Australian housing market - the only property podcast not run by a “Buyers Agent”. You can listen to Aus Property Mastery on Apple Podcasts, Spotify, Google Podcasts, & Stitcher.   PK Gupta is the founder of the Property Investment Accelerator — Australia's #1 Rated And ONLY 100% Independent Real Estate Course & Mentorship Program that helps people achieve passive income through property investing using DATA, WITHOUT wasting months doing "research", spending weekends at inspections OR dropping $10-20k on Buyers Agents each time.   Resources: Watch FREE Trainings On Our Website

In this episode: The current IRS backlog times. How long should you hold onto your tax documents. The importance of paying estimated taxes. Good bookkeeping practices.   Our guest is Jess Moyer, of The Icehouse Wellness and Community Center, who discussed being an author, juggling home and work, how she knew it was time to start a business, and how her business has thrived.  She also speaks on working through pain and personal grief.    

In this episode Dan gives you some last minute tax saving tips, as we approach the tax year end. He chats about dividends, salary, marriage, gains.... all this an more on today's HeelanHub! www.heelanhub.co.uk - the show for small UK business owners.

ProACT Sam examines how expats relocating overseas can tax advantage of split year rules as a one off opportunity to use personal allowances to maximise tax savings.

• In this day and age, there are myriad investment opportunities that you can use to generate extra wealth, get better returns and save taxes in India. • However, most of the investment schemes that provide returns are taxed as per various provisions of the Income Tax Act rules in India. • ELSS is one of the best investment choices as they are regarded as tax-saving equity mutual funds. • Find out more about ELSS, its tax benefits, and how it can help you. To learn more visit our website www.geplcapital.com

• In this day and age, there are myriad investment opportunities that you can use to generate extra wealth, get better returns and save taxes in India. • However, most of the investment schemes that provide returns are taxed as per various provisions of the Income Tax Act rules in India. • ELSS is one of the best investment choices as they are regarded as tax-saving equity mutual funds. • Find out more about ELSS, its tax benefits, and how it can help you. To learn more visit our website www.geplcapital.com

• In this day and age, there are myriad investment opportunities that you can use to generate extra wealth, get better returns and save taxes in India. • However, most of the investment schemes that provide returns are taxed as per various provisions of the Income Tax Act rules in India. • ELSS is one of the best investment choices as they are regarded as tax-saving equity mutual funds. • Find out more about ELSS, its tax benefits, and how it can help you. To learn more visit our website www.geplcapital.com

Home loans can help you can save as much as ₹5 lakh or more in taxes. In this episode, Mint's Shipra speaks to Ritesh Kumar, Partner, IndusLaw, on the different rules that determine how much tax rebate you can get if you're servicing a home loan

In this episode, Mint's Shipra spoke to Shailesh Kumar, Partner, Nangia & Co LLP to discuss some of the ways in which your parents can help you lower your tax liability.

In this episode, Mint's Shipra spoke to Abhishek Soni, Co-founder, Tax2Win to discuss the two tax exemptions available on capital gains on the sale of real estate property.

One of the Australian Labor Party's (ALP) big election promises in the 2019 federal election was to abolish negative gearing. It would be logical to think that the ALP's shock election loss in 2019 will serve as a warning for policy makers. That is, banning negative gearing is an unpopular policy. However, I would caution investors against assuming that negative gearing is here to stay.What is negative gearing?Negative gearing allows investors to offset property investment losses against other taxable income (such as employment income) to reduce their tax liabilities.For example, Colin is employed as a lawyer and earns $200,000 pre-tax. Colin's employer correctly deducts $64,700 of tax. If Colin borrows $1 million to purchase an investment property, he expects to receive approximately $14,000 of rental income after all expenses (management fees, insurance, maintenance, etc.). The bank will charge him approximately $35,000 p.a. in interest. Therefore, the property will lose approximately $21,000 p.a. ($14k less $35k).Colin will be able to offset that loss against his employment income to reduce his total taxable income to $179,000 ($200k less $21k). This will reduce his annual tax liability to $54,900, which is a saving of $9,800 p.a. As such, the after-tax cost of the property is $11,200 p.a. ($21k less tax saving of $9.8k). This is called a negative gearing benefit.Why do people negatively gear?The only reason that you would negatively gear is that you anticipate that the property's capital growth will eventually dwarf its income losses.Continuing with Colin's example above, let's consider the projected outcome after 20 years. Let's assume the property continues to lose $11,200 per year which equates to $224,000 in total over 20 years. This assumes the rental income and interest rate do not change for 20 years, which of course is highly unlikely, but for the sake of simplicity, lets continue. If Colin's investment property appreciated in value by 7% p.a. on average, it will be worth over $3.8 million in 20 years. After capital gains tax, Colin would have accumulated almost $2.2 million of equity in return for losing $224,000 of income. Most would agree that this is a good financial outcome for Colin.In short, investors use negative gearing on the expectation that the capital returns generated by an investment (often property), will substantially offset any after-tax income losses over time.Why is negative gearing at risk?There are three main reasons that I believe that tax benefits (savings) resulting from borrowing to invest in property will not be as substantial as they have been in the past. As such, I would counsel investors to not rely on negative gearing tax benefits when making investment decisions.Reason 1: Government will probably limit negative gearingThe expansion of federal government debt to over $1 trillion dollars means the government must generate more revenue to service and eventually repay this debt. One way to do that is to grow the economy (GDP) which will generate more tax revenue, even if tax rates don't change. Another way is to raise taxes or limit deductions.Just over 11% of Australians invest in property (2.2 million people out of 19.8 million adults). However, only about 3.3% of Australians own 2 or more investment properties. Therefore, if the government limited negative gearing to say one property, fewer election votes would be at risk.I think the more likely outcome would be to introduce a dollar value limit. For example, maybe negative gearing deductions could be limited to $20,000 per year. Any negative gearing losses that exceed $20,000 could be carried forward to reduce the investment's cost base (i.e. reduce CGT liability). This policy would still allow low and middle income earners to benefit from negative gearing but limit the benefit to higher income earners. I think this is an attractive proposition for any government.Reason 2: Persistently low interest rates reduce tax savingsGross property residential rental yields typically range between 2% and 3.5%. After allowing for expenses (such as management fees, maintenance, insurances and so on), net rental yields typically range between 1% and 2.5%. With interest-only investment rates starting at 2.5% p.a. (fixed rates), a property's pre-tax income loss can range from nil to 1.5% of a property's value (being net yield less interest rate). This means if your property is worth $1 million, your pre-tax loss probably won't exceed $15,000 p.a. Consequently, your tax benefit (savings) won't be more than $,7,050 (being 47% of the loss).Prior to 2012, variable interest rates exceeded 6% p.a. which meant a property's pre-tax loss would typically be in the range of 2.5% and 5% of a property's value. So a $1 million property's pre-tax loss would therefore range between $25,000 and $50,000 which would save its owner between $12,000 and $23,000 in tax. That's substantially more than today.A low interest rate environment greatly reduces negative tax benefits in dollar terms. And if interest rates remain low for an extended period of time, property investors tax savings will be greatly diminished, but then so is their pre-tax cash flow loss.Reason 3: Stage 3 tax cuts will reduce tax savingsIt was reported last week that the ALP will likely support the government's stage 3 tax cuts which are set to become effective in the 2024/25 financial year. This means that there will only be two tiers for taxpayers that earn in excess of $41,000 p.a.:§ $41,001 to $200,000 = 34.5% tax rate including Medicare; and§ Over $200,001 = 47% tax rate including Medicare.Currently, the tax rate for earnings between $120,001 and $180,000 attracts a 39% rate of tax. The stage 3 tax cuts benefit taxpayers earning over $120,000, which would include many property investors.Using Colin's example at the beginning of this blog, the annual tax savings from investing in property would reduce by almost 40% from $11,200 to $6,900 (because after 2024/25, tax on $200,000 would be $60,000 versus $53,100 on $180,000 of taxable income).Don't invest in property (or anything) to save taxSaving tax alone will never make you independently wealthy. Tax is an unavoidable consequence of building wealth.Of course, any tax benefits ease the cash flow burden of investing in property. But it is very important that your investment strategy works with or without tax benefits.To do that you must only invest in investment-grade property/s that has the best capital growth prospects.

The Pearl Valley Hotel by Mantis is situated on the Jack Nicklaus Signature Pearl Valley Golf Course at the international award-winning Val de Vie Estate just outside of Paarl in the Cape Winelands. Arguably the best address voted number one Residential Estate in South Africa and recently voted Best Leisure Development in the world, it offers investors an opportunity to cut their tax bills, with special hotel rewards. In this interview, Deon Lewis of Futureneers speaks to Jackie Cameron of BizNews about this 12J investment offering.

The Pearl Valley Hotel by Mantis is situated on the Jack Nicklaus Signature Pearl Valley Golf Course at the international award-winning Val de Vie Estate just outside of Paarl in the Cape Winelands. Arguably the best address voted number one Residential Estate in South Africa and recently voted Best Leisure Development in the world, it offers investors an opportunity to cut their tax bills, with special hotel rewards. In this interview, Deon Lewis of Futureneers speaks to Jackie Cameron of BizNews about this 12J investment offering.

Tax isn’t necessarily a bad thing. If you’re paying tax, it means that you are making money (income or capital gains). But of course, there’s no need to pay any more than you legally have to. I discuss our common-sense approach to saving tax below.Minimising risk is often more important than saving taxIt is not worth it to bend or break the law to save a few hundred dollars in tax. For example, if you get audited and you have some dodgy deductions, it will encourage the ATO to look harder. The last thing you want is to attract the ATO’s attention.My approach has always been to stick within the black letter of the law. Bending the law is rarely worth it. However, if there are entirely legitimate ways to minimise tax liabilities, then it would be silly to not explore them.Remember, when you lodge a tax return, the taxpayer takes all the risk. If you get audited, you will be liable for the interest and penalties, not your accountant.Often, tax can only be delayed, not avoidedOf course, there are few things you can do to minimise tax. However, more aggressive tax minimising measures tend to delay tax rather than permanently reduce it. Often, implementing these strategies create cost (tax advice fees and documentation) and complexity. Even the best plans can be thwarted by the ATO issuing a tax ruling, practice statement or change in law to outlaw your plans. Sometimes, it’s better to keep things simple. Minimise tax as much as possible without creating too much cost and complexity.Minimise tax whilst you’re working (pre-retirement)I list some of the common strategies we use to help clients minimise taxation liabilities whilst they are working i.e. generating personal exertion income.Personal exertion income earners have few avenues to minimise taxIf you are a PAYG employee or earn Personal Services Income, there are not many avenues available to you to minimise your income tax liability. Of course, you can use negative gearing and/or contribute into super (discussed below), but that’s about it. There are some additional tactics available to certain professionals such as barristers and medicos. If there are limited avenues available to you to minimise income tax, then its best to focus on minimising other tax liabilities such as tax on investment returns, land tax and so on – which I discuss below.Contribute into superAfter 1 July 2021, individuals can contribute up to $27,500 per year into super and claim a tax deduction for this expense. The concessional contribution cap of $27,500 also includes any mandated employer contributions I.e. the compulsory 9.5% of your salary your employer contributes.Concessional contributions are taxed in your super fund at a flat rate of 15% if your annual income is less than $250,000 (or 30% for higher income earners).Borrow to invest (negative gearing)Borrowing to invest essentially allows you to use other people’s money (the banks) to build your personal wealth. You can use pre-tax income to pay for the interest expense. This used to be very tax effective. However, now that interest rates are so low, borrowing to invest provides substantially smaller tax benefits. That said, apart from the tax savings, borrowing to invest (to generate capital growth) often makes good sense, especially if you are more than 10 years from retirement.Minimise tax on investment returnsIf there are not many avenues to reduce the amount of tax you pay on your income, then at least make sure you don’t pay too much tax on your investment returns.The first thing to do is to make sure that you invest in assets that generate more capital growth than income. For example, residential property tends to provide most of its return in the form of capital growth. Also, you should avoid share market investments with high turnover (trading) as most of your return will be taxable in the year its generated (this is most common with actively managed investments). This is another advantage of index funds – the turnover tends to be much lower.The second tip is to make sure the investments are owned tax effectively. This could include investments being held in the lowest income earner’s name or in a family trust to provide flexibility. Think carefully about asset ownership. The owner of the asset will dictate which tax options you have in the future.Minimise land taxLand tax is insidious because the annual expense tends to creep higher the longer you own a property. And by the time it becomes a problem, it is too cost prohibitive to take corrective action. Mapping out a plan and following expert advice will help you minimise land tax as much as possible.Consider capital gains taxQuality assets will generate substantial capital gains if you hold them for the long term. Consequently, they also accumulate substantial capital gains tax liabilities too. This is something to consider. It might be appropriate to put some assets in structures that allow you to minimise (or eliminate) CGT such as a SMSF or Family Trust.If you’re self employed, there are a lot more optionsIf you are self-employed and generate business income, there could be lots of avenues to minimise tax, as long as your business is structured correctly. To learn more about this, I recommend you listen to our new podcast: The Holistic Accountant.Your aim should be to pay zero tax in retirementAny assets that are held inside super that are in pension phase (i.e. you are retired) do not attract any tax (no capital gains tax or income tax) as long as your member balance is less than $1.7 million (after 1 July 2021). That means a couple can have up to $3.4 million invested in super, and not pay any tax.An individual can earn up to $22,500 per year and not pay any tax. This means a retired couple can earn up to $45,000 and not pay any tax. Of course, even if they exceed this amount by a small amount - say $10,000 - they will still pay very little tax - only about $2,500 (or 4.5%). Therefore, in retirement if you expect to generate less than $50,000 per year, just make sure its evenly spread between spouses. If you expect to generate a more substantial amount of income, then make sure you have some tax flexibility in retirement – such as a family trust.If you plan well, it is a reasonable expectation to pay little to no tax in retirement.If you can’t save tax, focus on investment returnsSome people can become too focused on saving tax. If you earn money, its likely you will have to pay your fair share of tax. That’s life. It’s important to take whatever steps you can to minimise tax. However, at some stage, you must move on and focus your attention elsewhere, such as maximising investment returns.

There are many different business structures available, but What saves you the most tax?. https://www.gov.uk/set-up-sole-trader (Sole traders), https://www.gov.uk/set-up-business-partnership (partnerships), https://www.gov.uk/set-up-limited-company (limited companies) and more. Which one is best for your situation? In this episode of I Hate Numbers I'm going to look at What saves you the most tax? I will look at the difference between the different taxes for https://www.proactiveresolutions.com/how-to-decide-which-type-of-company-is-right-for-you/ (sole traders and companies,) paying yourself, which structure makes you more money. Myhttps://www.proactiveresolutions.com/calculators/ ( FREE online tax calculator) will show you the total tax to pay for both business types, give you options and help you plan. https://www.proactiveresolutions.com/c1zn (Subscribe) now! You'll learn about all your options in this podcast episode of I Hate Numbers. My https://www.proactiveresolutions.com/calculators/ (FREE online tax calculator) is ready and waiting for you. Sole Trader vs Limited Company Tax CalculatorYou can't decide 'What saves you the most tax?' without looking at the numbers. Moreover, how it works and how much you pay, and which is better. When it comes to crunching the numbers, I have just the thing for you! https://www.proactiveresolutions.com/calculators/ (FREE online calculator.) The best way to find out if a limited company or sole trader is right for your business is by using my free online calculator tool. It will help you work out what's best for your needs based on your circumstances. https://www.proactiveresolutions.com/calculators/ (Click here) now to get started. My free online sole trader versus limited company tax calculator shows the tax you will pay, personally and business wise. You can see your take home pay from both options. Use the sliders to see the impact of changing profits, https://www.proactiveresolutions.com/resources/tax-advice/paye-national-insurance/ (salaries), and https://www.proactiveresolutions.com/how-to-pay-yourself-salary-dividends-benefits/ (dividends) You do not have to worry about making this decision alone! https://www.proactiveresolutions.com/contact-us/ (Contact us) to see how we can help How to decide which type of stricture is best for you. Arrange an initial chat to talk options Our news section, https://www.proactiveresolutions.com/calculators/ (FREE) online calculators is there for you. Just https://www.proactiveresolutions.com/calculators/ (click) here now to get started! Listen now and https://www.proactiveresolutions.com/c1zn (Subscribe) to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates from I Hate Numbers podcast! Click here for more business and finance, https://www.proactiveresolutions.com/news/ (news), advice and tips Linkshttps://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288 (https://podcasts.apple.com/podcast/proactiveresolutionss-podcast/id1500471288) https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbers (https://play.google.com/music/m/I3pvpztpjvjw6yrw2kctmtyckam?t=I_Hate_Numbers) https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zins (https://open.spotify.com/show/5lKjqgbYaxnIAoTeK0zins) https://www.stitcher.com/podcast/proactiveresolutionss-podcast (https://www.stitcher.com/podcast/proactiveresolutionss-podcast) https://tunein.com/podcasts/Business--Economics-Podcasts/I-Hate-Numbers-p1298505/ (https://tunein.com/podcasts/Business–Economics-Podcasts/I-Hate-Numbers-p1298505/)

There are many non-financial reasons that encourage people to start their own business. But it's important that you are fairly rewarded (financially) for your time, effort and risk. It might be your goal to build your businesses value and sell it one day. But as a plan B, you must direct a proportion of your annual profit towards building a personal nest egg. Stuart and Mena show you how to do this including:- The three common tax-effective ownership structures to use to build wealth- How to improve your business's cash flow- How your accountant can help maximise your borrowing capacity so that you can borrow to invest- Why ignoring super is foolish (and why you don't need a SMSF)- Investing in commercial property can be very rewarding, particularly if you operate your business from it.If this episode resonated with you, I'd love to hear your thoughts! Sharing your feedback on your favourite podcast platform helps me expand my reach and connect with more incredible listeners like you. Thank you deeply for being a part of this journey! To subscribe to our weekly email: https://www.prosolution.com.au/stay-connected/ SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here: https://prosolution.com.au/books. Work with Stuart & Mena's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. To accomplish this, our multidisciplinary team of experts collaborate extensively on behalf of our clients, ensuring thorough exploration of all potential opportunities. This collaborative method enhances the value we deliver to our clients. Visit: https://prosolution.com.au. Follow us on socials: Stuart: Twitter/X: https://twitter.com/StuartWemyss and LinkedIn: https://www.linkedin.com/in/stuartwemyss/ Mena: LinkedIn: ...

Your business structure is critical because it will dictate how much tax you pay, whether you will be able to build personal wealth effectively, if your assets are protected and your overall financial success. We see lots of costly mistakes. We discuss how to avoid these mistakes and structure your business to achieve personal success.If this episode resonated with you, I'd love to hear your thoughts! Sharing your feedback on your favourite podcast platform helps me expand my reach and connect with more incredible listeners like you. Thank you deeply for being a part of this journey! To subscribe to our weekly email: https://www.prosolution.com.au/stay-connected/ SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here: https://prosolution.com.au/books. Work with Stuart & Mena's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. To accomplish this, our multidisciplinary team of experts collaborate extensively on behalf of our clients, ensuring thorough exploration of all potential opportunities. This collaborative method enhances the value we deliver to our clients. Visit: https://prosolution.com.au. Follow us on socials: Stuart: Twitter/X: https://twitter.com/StuartWemyss and LinkedIn: https://www.linkedin.com/in/stuartwemyss/ Mena: LinkedIn: ...

Buying property off the plan is a strategy that’s made a bunch of people money, and cost a bunch of people just as much. In short, it’s a minefield. It’s something that’s pretty common and promoted heavily, but there are a bunch of things you need to know so you don’t get caught out holding the bag and cost yourself a HEAP of money in the process.    In this piece I cover how buying off the plan works, what to look out for, and some of the strategies you can use to make sure your property purchase is one that makes you money without an overwhelming amount of stress.   Want to keep making the right money moves with complete confidence?   Upcoming online training events: https://bit.ly/PivotEvents   Book a Money Breakthrough Session with a Pivot Adviser: https://calendly.com/ben-nash-pivot/breakthrough-podcast   Free download of my Amazon best-selling book ‘Get Unstuck’: https://bit.ly/PivotGUSPod Pivot Blog for other money tips, tools and hacks: https://bit.ly/PivotBlog

Jacqui Cooper (@JCooperTravels) speaks with Joshua Thompson, E.A. CTC Owner of Thompson Tax Group, to share tax savings tips as you plan during the year to save money. This is a continuing series as Joshua speaks about tax saving tips for individuals and businesses. The tax code is complicated. Listen & learn so you can save and enjoy.... Be sure to Like & Subscribe to JCooperTravels Podcast & follow along on my YouTube Channel to keep up to date on continuing episodes & other thank you gifts to listeners. Website: https://thompsontaxgroup.com/ Visit IGo4Less to enjoy travel wholesale savings up to 35% & to help feed families since an automatic donation is made when you activate your free membership to Manna Relieve & Children International by our Foundation. Just enter your gift code & enjoy: Code 622135 To find Joshua's mug with his dog, visit GiftsWithLove.Click. JCooperTravels is dedicated to providing you with a one-stop-location for your travel needs. Whether you are a solo traveler or a traveling with a family... whether you need the most up to date information on travel locations, Covid-19, travel insurance or travel savings... whether you want to learn more about concerts, crafts fairs, food festivals, alternative lifestyle events or other questions... Contact Jacqui at jcoopertravels@gmail.com. --- Send in a voice message: https://anchor.fm/jacqui-cooper/message Support this podcast: https://anchor.fm/jacqui-cooper/support

Financial Advice

A case study of how one Medics' Money doctor used a limited company to save tax and invest for the future. Contact Guy Roper here https://www.medicsmoney.co.uk/accountant/sunrise-independent-financial-advisers/   Want to stay up to date with the latest financial information for doctors? Join 21,000 doctors receiving free financial CPD via email by downloading our free ebook here https://www.medicsmoney.co.uk/ebook/ Follow us on Twitter  https://twitter.com/medicsmoney Like us on Facebook https://www.facebook.com/medicsmoney  

Most people believe they have to pay the taxes on gains from the sale of their home, but did you know there’s a good chance you may not have to?! Here are 8 tax facts to keep in mind if you’re selling your house this year

Interest expenses are often an investors largest tax deduction. You must realise that the onus of proof is on the taxpayer (you), not the ATO. That is, you must be able to prove to the ATO that your deductions are legitimate. If you are not able to do that unequivocally, you risk the tax deduction being denied in full (and you will have to pay interest and penalties).Therefore, it is wise to understand some basic tax rules so that you do not inadvertently put any of your tax deductions as risk. There is a lot more detail (whole chapter) in my latest book, Rules of the Lending Game, but below is a summary of the top 10 rules that relate to investment loans.(1) You only get one chance to set the maximum tax-deductible loanThe initial amount you borrow when you first acquire an investment will be the maximum tax-deductible loan amount.For example, if you purchase a property for $800,000 the total cost of the acquisition will be $845,000 including stamp duty. If you have $300,000 of cash, you need to borrow $545,000. In this situation, $545,000 will be the maximum tax-deductible loan. You cannot go back to the bank and increase the loan at a later stage because the “purpose” determines it tax-deductibility (which I discuss below). A possible solution to this would have been to borrow the full cost and deposit monies in a linked offset – more about this below.(2) Loan applicants may not have tax consequencesWho’s name the loan is in (i.e. the loan applicants) typically has no impact on the deductibility of the debt. From the perspective of the ATO, especially with spouses, the main determining factor regarding deductibility is (1) who owns the asset in question – i.e. whose name is on the title; and (2) who has been making the repayments.For example, if the investment property is in the husband’s name but the loan is in joint names, and repayments are being made from a bank account that is solely in the husband’s name, the husband should be entitled to 100 per cent of the tax deduction (Taxation Ruling TR 93/32).It’s preferable (and cleaner) if you can arrange for the name(s) on the loan to match the name(s) on the title, as this eliminates any doubt. However, some lenders’ policies or procedures might make this difficult, costly (in terms of time or legal costs) or impossible. It’s wise to document why the loan has been established in this way – that is, because the bank declined to set up the loan solely in the owner’s name.(3) The owner must make loan repaymentsA common mistake is that repayments in respect to a loan used to fund an investment in one spouse’s name come from a joint account i.e. in both spouse’s names.In this situation, the ATO could argue that since both of you have been repaying the loan, the deduction should be split. However, since only one spouse owns the property, only that spouse is entitled to a deduction – and consequently now half of the interest is not tax deductible!To avoid this risk repayments should be debited to an account that is solely in the owner/s name.(4) A loan’s security does not matterThe property/s used to secure a loan has no bearing on its tax treatment whatsoever. For example, you could have an investment loan secured by your home and it would still be tax-deductible. The purpose for which the funds are used and who’s been making the repayments will determine the tax-deductibility.(5) Purpose is kingUltimately, the biggest determining factor as to whether interest is tax-deductible is the purpose for which the loan funds are used. This is what the ATO looks at in the first instance. If the item being financed is used for a purpose which has a direct relationship with earning assessable income (such as rental income and capital gains), then any interest charged in respect to the loan which finances that asset should be tax-deductible. Once this is established, the ATO then consider (1) who owns the investment; and (2) who’s been making the repayments. These factors determine who is eligible to claim a tax deduction.Therefore, if you established a loan to purchase an investment property which earns assessable income, and one spouse owns 100 per cent of that investment property and makes the repayments, then that spouse is 100 per cent entitled to the deduction.Sometimes people ask; “Should I borrow against my investment property to repay my home loan?” The answer is always ‘no’, because it comes back to the purpose test. The purpose of the new loan would be to repay the home loan, which is a non-deductible purpose.(6) Don’t mix loan purposes!There are lots of reasons not to use one loan for multiple purposes e.g. to use part of the loan to invest in property and part to invest in shares. Or worse, mix home debt and investment debt in the same loan. The predominant reason is that it makes record keeping difficult and therefore puts tax deductions at risk (because it weakens your justification for claiming a tax deduction).Another reason is that it can become a nightmare should you want to repay only part of the loan. The tax rule is that any repayment to a loan must be apportioned across the whole loan. You cannot allocate your repayment to just one loan purpose. Therefore, you must separate loans by purpose.(7) Redraw: be careful using itRedraw is the ability to withdraw any extra repayments. The ATO treats any redraw as a separate loan, and once again, its tax-deductibility comes back to the purpose test. For example, say that a client has a $300,000 investment loan and receives a $20,000 bonus from work. They intend to use the bonus to take a holiday at the end of the year, and so they park the $20,000 in their investment loan in the interim to save interest. This will be considered an extra repayment. If they then redraw the $20,000 at the end of the year to fund their holiday as planned, the ATO will deem that they now have two loans – one for $280,000, which is still tax-deductible (being the balance prior to the redraw), and one for $20,000. This latter amount is no longer tax-deductible, as the loan’s purpose was to finance a holiday.Essentially, when you repay a loan, you can deny yourself a future tax deduction, as you can’t simply redraw the loan back up to the original amount. You must be careful about when you use a redraw facility.(8) It is much better to offset debt, not repay itThe problem with repaying an investment loan (whether through regular or ad hoc repayments) is that you change the original tax nature of the debt. That is, as discussed earlier, if you redraw the money at a later stage, it will be treated as a new loan for tax purposes. Therefore, it’s important to preserve the original tax-deductible loan balance, which also preserves your potential future tax benefits.An offset gives you the best of both worlds – it allows you to park extra cash in it to offset the loan and reduce the amount of interest you pay, but also preserves the tax-deductible balance of that loan.The bonus is that if you ever need to pull that extra cash out of the offset to use for a non-deductible purpose in the future, you can do so in a more tax-effective manner. This is a perfect structure particularly for first home buyers as it allows them to minimise interest whilst preserving the loan amount in case their property becomes an investment in the future.(9) Borrowing expenses are tax deductibleAll borrowing expenses are tax-deductible if they relate to investment loans. Any costs under $100 are deductible in the year that they’re incurred. Any costs over $100 are deductible equally over the term of the loan or five years, whichever is less. As mortgage terms are almost always longer than five years, borrowing costs are deductible over the first five years of the loan. If you refinance or repay your loan earlier than the five-year period, you can claim the balance of the expense which you haven’t claimed a deduction for yet.Deductible costs can include expenses at time of purchase, such as application fees, title search fees, lender’s legal fees, valuations, mortgage insurance, mortgage stamp duty, loan repayment insurance, settlement fees, security or guarantee fees. Basically, any third-party fees that are payable up-front, whether they’re government or bank charges, can be deductible.(10) Keep a good paper trailIt is vital to maintain a proper paper trail. You must make clear, concise notes and keep track of all loan balances and transactions related to your investments throughout the year. If you do get audited, it’s handy to be able to go back to your notes and calculations to prove and demonstrate exactly how you arrived at a particular tax deduction and/or what that amount was used for. This is particularly relevant when you’re paying deposits, refinancing, transferring funds, paying related expenses for properties and so on. What is clear to you today won’t be as clear in five to ten years’ time, so good record keeping will help a lot.Get tax adviceThere are two reasons to visit your accountant. The most obvious – and something that people generally only consider once a year – is for the preparation of your tax return.The other thing an accountant will do is to provide taxation advice about how you should set up and fund your property investments. This is of the utmost importance and I highly recommend you be prepared to pay for it. Don’t be tempted to ‘shop around’ for an accountant based on fees alone. This is one area where you want to make sure they know their stuff.________Warning: Whilst the author, ProSolution Tax Advisory and all its directors are registered tax agents, you must not rely solely on the above information. This blog provides a summary only. Exceptions apply to all tax rules and as such, you must consider your individual circumstances. Therefore, you must obtain personalised tax advice prior to acting on any information contained in this blog.

The end of the financial year is a great time to review your portfolio and ensure you are aware of the tax deductions and incentives that exist for your investments and your personal income. Many recent changes could offer benefits for certain taxpayers. ----more---- In this timely podcast, Paul Rickard of the Switzer Group discusses risks and opportunities, including: Strategies to make the most of your investment portfolio Which home office expenses are tax deductible Incentives to boost your superannuation How those affected by Covid19 shutdowns can get back on their feet, and Changes in 2020 that could help you preserve more of your wealth. You can access this and previous episodes of the Your Wealth podcast now on iTunes, Podbean, Spotify or at nabtrade.com.au/yourwealth If you’re short on time, consider listening at 1.5-2x speed, which should be shown on the screen of your device as you listen. This won’t just reduce your listening time; it has also been shown to improve knowledge retention.

With the financial year coming to a close, I thought it was timely to share some of the common strategies we consider when helping clients minimise their taxation liabilities.Of course, none of the information below should be considered personal taxation advice. I don’t know your circumstances and everyone’s situation is different. Therefore, please don’t act solely on the information contained in this blog. It is best to check with an experienced and appropriately licensed professional.New work from home deductionsTo accommodate the fact that the majority of people have been working from home during the Covid shutdown period, the ATO has provided a shortcut method for these related deductions. In simple terms, employees are able to claim a tax deduction equal to 80 cents for each hour they have worked from home between 1 March and 30 June 2020.If more than one person has been working from home in your family, each person is entitled to the shortcut deduction.If you use the shortcut method, you are not able to claim any additional work from home expenses.If you do not use this shortcut method, please refer to this blog which it sets out an alternate method for calculating deductions.When to make additional personal super contributionsAnyone that is 65 years or younger is able to contribute up to $25,000 into super and claim a personal income tax deduction. Included in this concessional contribution cap is any contributions made by your employer on your behalf. This is referred to as Superannuation Guarantee Charge or SGC i.e. the mandatory 9.5% p.a.If you earn less than $250,000 per year, all contributions are taxed at a flat rate of 15%. This means you pay less tax overall. If you are on the top marginal tax rate, contributing into super saves 35% (47% versus 15%).However, if you earn over $250,000 per year, contributions are taxed at a flat 30%. This is called Division 293 tax. In this situation, you are still able to reduce your tax by making super contributions, just to a lesser extent.Finally, if your taxable income is expected to materially exceed $90,000 this financial year and you have sufficient savings, then making an additional contribution into super may be tax effective. The marginal tax rate on income between $90,001 and $180,000 is 39% so contributing into super saves you 24%.If you expect that your taxable income is unusually high this yearIf you anticipate that your taxable income this financial year is likely to be higher than next financial year (e.g. due to receiving a bonus or crystallising a capital gain), then you might consider whether you are able to use the carry-forward rule.The carry-forward rule allows you to access any unutilised concessional caps in previous financial years. This rule commenced on 1 July 2018. Therefore, if you did not fully utilise the $25,000 concessional cap last financial year (i.e. 2018/19), and your super balance was less than $500,000 as at 1 July 2019, then you can access the unused portion of the cap this financial year.If you have a Self Managed Super Fund, you may also be able to contribute an additional year’s worth of contributions this year too. This is called ‘contribution reserving’ and whether you can or should avail yourself of this strategy is something you should discuss with your accountant and financial advisor.Another strategy to reduce the amount of tax you pay this year is to consider paying interest in advance. This is only applicable if you have investment loans (e.g. you have borrowed to invest in shares or property). This strategy involves paying the next 12 months of interest in June and claiming a tax deduction for it this year. Given interest rates are historically low, particularly fixed rates, it is important to ascertain whether any potential tax savings are worthwhile.If you expect your taxable income next year to be substantially higher than this yearIf you expect that your income next financial year (2020/21) will be materially higher than this year i.e. push you into a higher tax bracket, then it might be advantageous for you to not make any additional contributions this financial year. Instead, you can use the carry-forward rule and make the additional contributions next year (so that you maximise your tax deductions in that year).Spousal and government co-contributionsIf your spouse’s income is relatively low, you may be able to save some tax and boost their super balance.Government co-contributions – if your income is below $38,564 this financial year and you contribute $1,000 (as a non-concessional contribution) the government will make a co-contribution of $500. See here for all eligibility criteria.Spousal contributions – if your spouse’s income will be less than $37,000 this financial year, and you make a non-concessional contribution into their super account of $3,000, you will be entitled to a tax offset of $540. See here for all eligibility criteria.Sell any dud investmentsIf you have crystallised a capital gain this year then it might be wise to consider selling any dud investments that will crystallise a capital loss, which you can use to reduce the capital gain.Capital gains are added to your taxable income in the year that the Capital Gains Tax event occurred. Capital losses can only be offset against capital gains and not other taxable income. Therefore, if you do not have any gains to offset a capital loss, you may be able to carry it forward to future tax years.Don’t let tax saving measures come at the cost of building wealthQuite often you have to spend money in order to save tax. However, it’s important that you are spending on things that ultimately help you build wealth and achieve lifestyle goals. There is little benefit gained from spending money just to chase a tax deduction.If you are confident that you are taking advantage of all opportunities to reduce your tax but are still unhappy, perhaps the best thing to do is focus your energy on ensuring pre and post-tax dollars are wisely invested. Maybe you’d feel less concerned about the taxes you pay if your financial position was advancing at a faster rate each year.

Be prepare from Save Income Tax, you have to more one month  folow me on http://www.anchor.fm/dhiren-pathak --- Send in a voice message: https://anchor.fm/dhiren-pathak/message

With most people being required by their employer to work from home, I thought it would be timely to update you on what deductions you can claim and what evidence you need as substantiation.Start keeping record nowRemember, the onus of proof is on the taxpayer to substantiate any deductions they claim. If you use a tax agent, you probably won’t have to lodge this year’s income tax return until March 2021. How likely is it that you will remember everything you did and all the purchases you made in March 2020, one year from now? Unlikely right. Therefore, its best to start keeping records now.Expenses you may be entitled to claimHere’s a list of expenses you can typically claim.Running costsThese expenses include heating, cooling, lighting, cleaning, and so on. There are two methods you can use to calculate this deduction:1. Fixed rate - You can claim a deduction of 52 cents for each hour you work from home instead of recording all of your actual expenses for heating, cooling, lighting, cleaning and the decline in value of furniture. You can either keep a record of the number of hours you have worked from home during the coronavirus period. Or, if you regularly work from home, you can keep a diary for a representative 4 weeks; or2. Actual costs – You can use this method if you have a dedicated workspace and you can accurately apportion costs such as power, heating, cleaning and depreciation. You still need to keep a 4-week diary or actual record of hours worked to support your calculations.Obviously, for most people, the fixed rate option is the simplest. More information is available on the ATO’s website here.ConsumablesItems such as software subscriptions, stationery, paper for your printer and printer ink can be tax deductible. You must retain receipts as evidence.Mobile phone & internet expensesThere are two methods available to use to determine your tax deduction for mobile phone usage:1. A total deduction of $50 with limited documentation required. This method is appropriate when your device usage is incidental; or2. Claim a proportion of actual expenses. To work out the actual work-related proportion, you need to consider the amount of usage solely for work compared to the overall usage. Usage could include functions such as voice calls, text messages, data and app usage. You need to keep a diary for a representative four-week period to support your claim.Computer and office equipmentIf the cost of the equipment is less than $300, then you can claim a full deduction in the financial year the purchase was made. If the equipment costs more than $300, you must depreciate the item over its useful life. Note, if any equipment purchased is partially used for private use purposes, you will need to apportion the depreciation for its work use percentage.Expenses you may not be entitled to claimHere is a list of expenses that you are not able to claim.Rental expense or mortgage interest (occupancy expenses)Generally, you cannot claim a deduction for interest cost or rent paid in respect to a home office. However, if dedicated portion of your home is your principal workplace, then you can claim a portion of occupancy expenses. Generally, you would apportion the work-related and non-work-related expenses by floor area.Travel between home and workGenerally, you are not entitled to claim a deduction for the cost of travel between work and your home office e.g. if you need to go into the office to collect items.Certain government expensesIf you were to make a claim using the actual method, you cannot claim items such as council rates, land tax and water rates.ReimbursementsIf your expenses are reimbursed by your employer, you will not be able to claim these work-related expenses. However, if your employer has paid you an allowance for work related expenses, you can claim a deduction against this allowance.No capital gains taxIn most cases, there are no Capital Gains Tax (CGT) consequences of running a home office.Generally, if you use your home for an income generating/business purpose, you normally only be entitled to a portion of the main residence CGT exemption. That is, you wouldn’t be entitled to a 100% exemption. This is true if you claim occupancy expenses. However, if you do not claim occupancy expenses, then you would obtain the full main residence CGT relief.The ATO’s Golden RulesThe ATO has provided three rules in determining whether the deduction your claiming is eligible:1. The taxpayer must have incurred the expense themselves – and not have been reimbursed.2. The expense must be incurred in gaining or producing assessable income.3. The claim must comply with the substantiation rules – i.e. all records must be kept.Remember, the onus of proof is on the taxpayer. It is important to know what you’re eligible to claim before lodging your tax return and to make sure you don’t claim more than what you’re entitled to. Don’t be too aggressive just to save a couple of dollars in tax – it’s not worth the risk of attracting an audit. The risk of deductions falls on the taxpayer, not their accountant. It is imperative to get the right advice before claiming your deduction.Home office expense calculatorThe ATO has a home office expense calculator here.I hope you and your family are safe and keeping well. If we can be of any assistance, don’t hesitate to reach out to us.

Where is Kansas City? Pelicans rookie Jaxson Hayes works in a political league and wants NBA to suck his dick, then apologises, Memphis Grizzlies young players challenge Andre Iguodala, Grizzlies keep Andre in limbo, Houston Rockets owner Tilman Fertitta looks to reduce luxury tax and trade Clint Capela, D'Angelo Russell getting interest from Knicks and Wolves, what can incentivise Warriors to move Dlo, should the Pelicans trade Jrue Holiday? Derrick Rose, Andre Drummond trade possibilites, Sixers still stuck at 6th place, how is Kevin Love keeping busy

Damien Fahy of moneytothemasses.com talks to Andy Leeks about money. On this week's show Damien talks about how you can reduce the amount of tax you pay by highlighting some of the tax breaks that are often forgotten. He also discusses the recent US-Iran tension and how geopolitics can impact the stock market.   Don't forget to join the Money to the Masses Facebook community group, click here to join the group. Damien's Money MOT - Take yours today 80-20 Investor - Click here to find out more about Damien's 80 20 Investor service Pension Calculator

An individual can reduce his tax burden by investing under various instruments and get benefits of up to Rs1.5 lakh under Section 80C of the Income-tax Act. We tell you about five instruments that you can invest in according to a holding period that suits you.

An investment property should be selected based on the likelihood of it generating strong capital growth rather than secondary benefits such as rental yield or negative gearing. However, saying that, this doesn’t mean we shouldn’t maximise the gearing benefits of your current or future investment property to save on tax! So, if you’re looking to purchase an investment property or currently have one, these are some commonly missed methods/deductions that will help you get the most from your investment property: 1. Depreciation schedulesClaiming depreciation and the associated capital works deductions is a significant taxation benefit, and one which many property investors are unaware of. Depreciation is a non-cash deduction meaning you do not need to spend any money to claim it.As your property ages and items within it wear, they depreciate in value. The ATO allows deductions for this wear and tear. Deductions can be claimed on the building's structure and items considered permanently fixed to the property. Further deductions can also be claimed on the plant and equipment assets contained within it.To claim depreciation deductions, property investors need to engage a specialist Quantity Surveyor to complete a capital allowances and tax depreciation report. When completed, the report outlines the deductions available for both capital works and plant and equipment items on an income producing property and is used each financial year when preparing tax returns. The cost of obtaining this report is also tax deductible.Click here for an update to the depreciation laws since this blog was published. 2. Prepay interestIf you anticipate your income to substantially decrease in the next financial year due to factors such as maternity leave or redundancy, prepaying your interest in the current financial year will allow you to reduce your current higher taxable income – maximising your tax savings. 3. Statement of adjustmentsThe purpose of the Statement of Adjustments is to calculate the exact amount the Purchaser will need to reimburse the Vendor on the day of settlement for the property’s annual costs already paid by the vendor for the remainder of the year. These expenses can include, but are not limited to council rates, water rates and body corporate fees. Many property investors are unaware of these expenses paid upon settlement and are usually missed as a rental expense within the first year when the property is acquired. 4. Borrowing expensesThe cost of establishing a loan can sometimes be quite substantial with some loan establishment fees costing in excess of $2,000. These costs are more often than not missed as it forms part of the loan proceeds and let’s face it - we’re always more interested with the interest expense rather than the menial bank charges!5. Waiting until tax time to get a refundMany employees don’t realise that they are entitled to vary the tax subtracted from their salary to ease the cash flow burden of investing in property (called PAYG withholding variation). This means you can enjoy the cash flow savings sooner – rather than waiting until the end of the financial year.Of course, there are more… The above is not an exhaustive list of investment property deductions – just a handful of the deductions I have found are commonly missed. Of course, there are many more expenses that can be claimed to help reduce the tax you pay. The ATO produce a guide each year to help investors but you really do need to use an expert.Experts in investment property taxWe look after hundreds of property investors and help them maximise their taxation benefits. We know where the boundaries are. Therefore, if you need help, please do not hesitate to reach out to us for a complimentary discussion.Visit this page and scroll to the bottom to download our tax deduction checklist: https://www.prosolution.com.au/commonly-missed-investment-property-tax-deductions/

In addition to the Age Credit and Pension Income Credit, it is still troubling to find out that many seniors are still not aware of a tax saving strategy to help them save on their taxes. No, this is not one of those "too good to be true" issues. Listen to find out more. 

In this episode Pete and Zac are joined by Cameron Johnson from Rucker Financial to discuss personal tax. Getting closer towards the end of financial year it is timely to discuss ways to legally minimise tax and what people should be doing during the year to make tax time a lot easier. To get in contact with Cameron you can email him on cameron.johnson@rucker.com.au or call the office 03 9874 7255. ATO App: https://www.ato.gov.au/General/Online-services/ATO-app/myDeductions/?=redirected For more information on gifts and donations: https://www.ato.gov.au/individuals/income-and-deductions/deductions-you-can-claim/gifts-and-donations/ --- Send in a voice message: https://anchor.fm/thewealthcollective/message

On this edition of the Wealth Guardians Radio Show, Doug Ray talks about how to save tax dollars with the new tax system in place. The Wealth Guardians Radio show is hosted by Doug Ray and broadcasts live each Saturday morning at 9:30 on Greensboro, NC’s 94.5 WPTI FM. Listen live or online at 945wpti.iheart.com/

In this episode, Cherry Chan, owner, Cherry Chan Professional Corporation. Cherry is a renowned CPA with extensive real estate investing experience. Cherry reveals some great accounting Tips and Tricks that will help real estate investors mitigate risk, save tax dollars and improve ROI. This show kickstarts with Cherry sharing her background information. You will learn about the difficulties that Cherry and her family faced when they moved from Hong Kong to Canada – and how they bravely overcame them. Cherry also shares how her struggle to meet her father's approval led to low self-esteem. How did Cherry manage to overcome her diffidence to become a driven and confident woman? Cherry has some great accounting Tips and Tricks that will surely help you and your business. What are the benefits of incorporating an S Corp structure? What are the Do's and Dont's that you need to be aware of while claiming deductibles? And, what questions should you ask your CPA to accurately gauge their capabilities? This show is laden with some heartwarming personal details and some excellent business tips. Tune in now!   What You Will Discover In This Episode:       The challenges of overcoming low self-esteem       Benefits of housing your real estate business in an S Corp       How to vet a CPA and figure out he/she is suitable for you and your business       Do's and Dont's while claiming deductibles in your business   Want to know my secret weapon when it comes to mortgages? https://streetwisemortgages.com/ Join our community here: https://www.facebook.com/groups/953421031472329/ Go here for all show notes: https://www.tahani.ca/fire-podcast/

Save Tax Dollars Through Prison Reform (4:08) Dontie Mitchell "Mfalme Sikivu"

In this episode, Whitney interviews Thomas Casteli, Tax strategist, The Real Estate CPA. Thomas shares some expert and innovative tips for raising capital and savings tax dollars in real estate syndication. Can you use a crowd funding platform for financing a syndication deal? If yes, are there any drawbacks in doing so? Can a rental property loss offset losses from other businesses? We also reveal how cost segregation and housing your syndication business as a S corporation can help you save your tax dollars. Tune in for some great insights! 

In this episode, Whitney interviews Dave Foster, investment professional and qualified intermediary, Exchange Resource Group LLC. Dave has 20 years' experience working in all phases of real estate investing. Dave explains how investors can divert their tax dollars in real estate syndication using 1031 Exchange. Do you need a qualified intermediary for a 1031 exchange? What is the cost of a 1031 Tax Exchange? You will also learn about the benefits of using the BRRRR method of real estate investing. Dave also reveals how you can invest tax-free dollars by selling your private residence using Section 121. This show is loaded with great tax saving Tips for new as well as experienced real estate syndicators. Tune in now!

According to the ATO, over 70% of people engage the services of a tax agent/accountant. However, according to Blackrock, only 15% of Australians have a relationship with a financial advisor.I believe that many people would benefit from having both. In fact, to crystallise the most value it is imperative that they have a close working relationship. To make my point, I would like to share some real-life stories about how integrated financial advice and tax advice can be and the value created when the approach is seamless.I believe that lots of people are missing a lot of financial opportunities simply because they don’t have the right advisors. This is such an easy problem to solve. The key point of this blog is that tax and financial planning are so heavily interrelated and if not looked after properly, many opportunities could be missed.Real-life storiesI could list all the pros and cons of having an advisory team that can provide both financial and tax advice, but I think that is both boring and relatively unconvincing. Instead, I have shared some stories below about some clients we have worked with recently. Whilst their financial circumstances are all different, I think they do demonstrate how interlinked tax and financial advice can be.Use of tax lossesI was working on a plan for a new client. He has made some investment in the past that didn’t work out how he had hoped, and as a result had a lot of carried forward tax losses in a unique type of trust (hybrid discretionary trust and not a type we would typically recommend using). Part of the client’s financial plan included investing in shares and I wanted to investigate whether we could somehow utilise these carried forward tax losses.The manager of our tax business was able to quickly review the trust deed, arrange a lawyer to draft documents to change the structure of the trust and confirm we can use the losses. This helped me finalise the plan (share investments will be owned by the trust) and has resulted in a great saving for the client and far less tax compliance risk for the client.Start super pension to save taxWhilst preparing SMSF financial statements for some clients, our accountant noticed that one of the members just had a birthday and as such reached her preservation age. He came and spoke to me and asked if we should therefore convert her account into pension phase as it then attracts a zero tax-rate. Of course, I agreed. A close working relationship, and our strong focus on finding ways to add value, have resulted in a perfect outcome for this client.Structure of investmentsThis client was self-employed and had a company with a reasonable amount of retained profits in it. If we paid the profit out of the company (via declaring a dividend), the client would have paid more tax. Whilst formulating their investment strategy, our accountant and I considered how best to utilise these “trapped” profits. Considering we were going to recommend the client invest in a property, we advised the client to purchase that property as tenants-in-common such that the company owned 20% of the property and the clients owned the rest (in personal names). This allowed the clients to put that money to good use without crystallising additional tax liabilities (and it helped them avoid messy Div. 7A loan compliance issues).Structure of super contributions to ensure you get a tax deductionIf you are self-employed, making super contributions can become messy and if you get it wrong, you might miss out on a tax deduction. Often, from a financial planning viewpoint, we review whether a client should make additional super contributions towards the end of the financial year (i.e. in May/June). If they are self-employed, these contributions could be recorded as personal or employer contributions – depending on whether they are made through an entity (company or trust) or personally. If they are recorded incorrectly, it could compromise their deductibility (as we have seen for some clients). The advantage for us is that we can meet as a team (i.e. both financial advisor and tax advisor) and work out the correct way for our clients to make super contributions so that tax deductions are not compromised.Maximising your borrowing capacityA tax accountant is usually keen to maximise all tax deduction because that will reduce the amount of tax payable by the client. However, this also reduces a client’s borrowing capacity too – and might retard their ability to achieve lifestyle and investment goals.When we act as an accountant and financial planner for a client, we can give the bank written confirmation of expected normalised earnings (income) which they will rely upon when undertaking their borrowing capacity assessment.We were recently helping some clients obtain finance to upgrade their home. However, last financial year they had a few non-reoccurring expenses (tax deductions) which reduced their taxable income. We were able to certify to the bank that their normalised income is actually a lot higher.The more complexity you have, the more you could benefitIf you have a relatively simple financial situation i.e. few investments, no entities (company, trust, SMSF), not self-employed, etc., then you probably don’t have a lot to gain by having your financial advice and tax advice in one place.However, if you do have some complexity then it is likely that you have a lot to gain from having one team look after all your financial affairs.All in one place saves you timeWe are all time-poor and having to see various advisors in various locations, providing the same information and having the same or similar discussions multiple times can be a waste of time. This problem is solved by having all your advisors in the one team. Only one appointment is needed which can be attended by your accountant, financial advisor and mortgage broker (if necessary). During that meeting you can review/address your tax, insurances, financial plan, investment super and mortgages needs in one fell swoop!Nothing slips between the gapsI love it when we look after a client’s tax and financial planning needs because it makes our job a lot easier:- Whilst formulating a strategy, if I have questions that relate to taxation affairs, I can walk over and speak directly to our accountant and we can workshop the issue to identify the best answer. Whilst I’m a registered tax agent too, it is virtually impossible to keep on top of all the tax laws so it’s important to speak directly with someone that lives, breathes and specialises in tax.- When our tax manager works on a financial planning client, he too can come over and speak to me and we can share ideas and thoughts to ensure all actions are congruent with their financial plan and goals. It is important that the right hand knows what the left hand is doing.- If I provide advice to a client as part of a plan (e.g. how to structure and investment), at least I know it will be implemented correctly. I know this sounds a bit control freakish and I acknowledge that there are some very good accountants out there, but there are also some practitioners that don’t have enough knowledge and experience and can unknowingly mess up an otherwise good plan.Most accountants cannot give you financial adviceThe misconception is that accountants can give you simple investment advice such as where to invest your super, whether to make additional super contributions, set up a SMSF and so forth. In fact, they cannot provide any financial advice unless they are authorised under an Australian Financial Services License (AFSL) and most are not. Some accounting firms might have in-house financial advisors but, depending on how they are licensed, they might be restricted on what advice they can give you (e.g. often no property advice).It would be remiss of me to not mention that ProSolution has its own ASFL, Australian Credit License and tax agency registration so there’s very few matters that we are not able advise clients about.Most accountant are focus on the past, not the present or futureOver the past 16 years since starting ProSolution, I cannot recall one time that a client’s accountant has picked up the phone to discuss or understand what a client’s financial plan looks like. Perhaps accountants are just too busy completing tax returns which forces them to focus all their attention toward what has happened in the past. And they probably move onto the next client before they have time to stick their head up and ask any questions about the future. Also, as noted above, most accountants are reluctant to overstep the advice mark for fear of breaking the law and exposing themselves to liability (if they are not licensed) – notwithstanding that they might not have the skill and experience to provide financial advice.Don’t you think it is potentially dangerous for your tax advisor to not know what your plan is?Are you missing out?Have a think about your current advisors, your tax structures and investments. Are you confident that you are making the most of your opportunities?If not, perhaps the best way to remedy the problem is to engage a firm that is able to provide holistic tax and financial advice. Or maybe you need to be the conduit for sharing information and future plans between your advisors – assuming they are all receptive to receiving it.Of course, we welcome the opportunity to have a confidential discussion with you.

Over the last few weeks we have been working closely with our advisory clients assisting them with end of financial year tactics. I provide a list below of some of the tactics that we have been implementing. It is worth taking a couple of minutes now to see if you can benefit from any of these.Additional tax-deductible super contributionsIf you are under 65 and generate some taxable income (i.e. working), you can make up to $25,000 of tax-deductible superannuation contributions per year (if you are aged between 65 and 74 you must meet the work test). This is called the ‘concessional contributions cap’ (“CCC”).Included in the CCC is any contributions that your employer has made on your behalf (i.e. the mandated Superannuation Guarantee Charge of 9.5% p.a.). If you have any insurance policies which are owned inside super and you pay for the premiums personally, then this amount is also included in the CCC (if in doubt, speak to your insurance adviser).This year (2017/18) is the first year that both employees and self-employed persons can make a personal super contribution from their personal savings and then claim a tax deduction for this contribution in their personal tax return. If you do this, you will need to complete a ‘notice of intent’ and give it to your super fund.For example, if you expect employer will contribute say $12,000 into super for the year ending 30 June 2018, then you can make an additional contribution (from personal savings) of $13,000 and claim a tax deduction for it. If your income is less than $200,000, then this $13,000 contribution will only attract tax at the rate of 15% within super (thereby possibly saving you 32% or over $4,000 in tax – which is the difference between the super fund tax rate and your marginal tax rate).Getting some more wealth inside superIf you are under the age of 65 (or between 65 and 74 and meet the work test), it might be worth contributing some of your savings (in your personal name) into super. This is called a Non-Concessional Contribution (NCC). The NCC cap for people with less than $1.4 million of super is $100,000 per year or $300,000 in one lump (bring forward the next three years cap).Super is obviously a very tax-effective environment (nil tax whilst in pension phase). Therefore, if you are approaching retirement, often it makes sense to shift wealth into super. Obviously, this depends on the value of other investment assets that you may have – you probably shouldn’t put everything into super.Prepaying interest in adviceIf you expect that your taxable income will be substantially lower next financial year (2018/19) and you have investment loans, then perhaps pre-paying next year’s interest in advance might help reduce your tax burden this year. You will need to switch your loan to a fixed rate product (banks normally offer discounted fixed rates for this).But make sure that you do your sums to ensure its worthwhile. Many people over-estimate the benefit of pre-paying interest. Contact us if you which to discuss this further.Spousal contributionsIf your spouse will earn less than $40,000 this financial year then you might consider making a contribution of up to $3,000 into their super account. If you do this, you can obtain a tax offset of up to $540 (it’s a tax offset, not deduction, which means whatever tax you are liable for is reduced by up to $540). See here for more information on this.Did you make any capital gains during the year?If you crystallised a taxable capital gain during this financial year then you might consider whether you should sell any under-performing assets that are in a capital loss position to reduce your capital gain. This is particularly relevant with shares and managed investments. June is a good time to sell any investments that haven’t turned out as well as you had hoped.Prepaying any tax-deductible expensesConsider pre-paying any tax-deductible expenses such as interest on investment loans, insurances, repairs to investment properties, tax-deductible fees, rent and so on. Again, this is valuable if you expect your taxable income to be lower next financial year.Trying to even up your and your spouse’s super balancesIt may be advantageous to try and equalise your and your spouse’s super balances to maximise the chances of you staying under the new $1.6 million pension cap. To do this, the spouse with the higher super balance would draw a pension from their super. And the spouse with the lower balance would contribution the amount drawn into their super account as a non-concessional contribution. Essentially, shifting super from one spouse’s account into the other.You can only consider doing this if you have reached your preservation age (which is between 55 and 60 if you were born before 30 June 1964 – or 60 if born after this date). Also, if you are still working, you need to consider whether the recent changes to the ‘transition to retirement’ rules render this strategy inefficient.If you operate a business, buy any equipment that costs less than $20,000The government will allow small businesses to write-off the cost of any equipment that costs up to $20,000 (instead of depreciating it). Therefore, if you need any plant or equipment, buy it before 30 June 2018. See here for more.Wills and power of attorneys are up-to-date?This isn’t strictly an end-of-year issue but I like to sneak this one in because so many people don’t have a will!Not having a will makes things more difficult for anyone that you leave behind. If you have some monies to leave to your beneficiaries, you can do that very tax-effectively with the right will. Also, if you have children, guardianship will need to be addressed in your will.If you need help, contact our office for a referral to a pragmatic lawyer that will make the whole process of arranging a will as painless as possible (same guy that I use personally).Make sure you get personal (independent) adviceI am sure that you understand that the above is a summary only and these strategies may or may not be appropriate for you. There are just too many considerations and variables that you need to take into account to list in this blog. Therefore, it is very important that you do not act on this information without first getting professional (independent) advice. Of course, we’re here to help.

How you structure your loans can have a large impact on the tax you pay, your risk, your ability to build wealth, your cash flow and your general financial strength. Efficient loan structuring is a commonly overlooked and rarely understood topic but that’s not to say it’s overly complex. Like anything, you don’t know what you don’t know until you know it. Many people tend to carry a reasonable amount of (investment) debt throughout their working life so it’s especially important for you to ensure your mortgages are your servant, not your master. You can save a lot of tax by optimising your loan structure.Part 1Loan structure # 1: Always borrow the maximum and use an offsetLoan structure # 2: Always interest onlyLoan structure # 3: Minimise securityPart 2Loan structure # 4: Diversify lendersLoan structure # 5: Avoid cross-securitisationLoan structure # 6: Never mix business with pleasureLoan structure # 7:  Stagger fixed rate expiryFor further details, read this blog

How you structure your loans can have a large impact on the tax you pay, your risk, your ability to build wealth, your cash flow and your general financial strength. Efficient loan structuring is a commonly overlooked and rarely understood topic but that’s not to say it’s overly complex. Like anything, you don’t know what you don’t know until you know it. Many people tend to carry a reasonable amount of (investment) debt throughout their working life so it’s especially important for you to ensure your mortgages are your servant, not your master. You can save a lot of tax by optimising your loan structure.Part 1Loan structure # 1: Always borrow the maximum and use an offsetLoan structure # 2: Always interest onlyLoan structure # 3: Minimise securityPart 2Loan structure # 4: Diversify lendersLoan structure # 5: Avoid cross-securitisationLoan structure # 6: Never mix business with pleasureLoan structure # 7:  Stagger fixed rate expiryFor further details, read this blog

It's time for another couple of questions in this week's edition of ‘Ask Rob & Rob', John & Gareth ask Rob & Rob... Will I save tax by transferring a property to my wife? PLUS: Do limited companies get to offset inflation? ASK YOUR OWN QUESTION TO ROB & ROB! Don't be shy! All you need to do is leave a message with your name and whatever's on your mind. Just pick up the phone and call 013 808 00035 (normal UK call rates apply). Or if you prefer, click here to leave a recording via your computer instead. See omnystudio.com/listener for privacy information.

Garland & Chris Mahan whose company, Mahan & Associates, LLC;  in Nashville that have been serving the Healthcare Community for Collectively over 50 years. They specialize exclusively in the Dental and Medical market space have a dynamic and complementary service model where all things are coordinated for the most optimal financial and practice development outcomes possible. Their company, provides distinguished service lines that are essential to all Practice Businesses. They provide Financials & Write Up Services, Tax Strategy and Tax Services, Practice Management Services, Payroll & HR Services, Pension and Retirement Planning Service and Financial Planning Services. With coordinating all these separate but necessary disciplines, they are able to offer a competitive advantage to their clients by integrating all business services and objectives to work in a competitive manner. Today we will be discussing one the core disciplines that affects all of us and that is Taxes and what initiatives and strategies need to be considered to save tax dollars!   www.mahanassociates.com

Managing Associate K.C. Smith, CFP®, Senior Associate Jarrett McKenzie, CFP®, CWS®, and Troy Harmon, CFA, CVA, discuss owning company stock in your qualified retirement plan and how net unrealized appreciation rules can provide a significant tax savings.

Negative gearing property is a popular investment strategy in Australia, but how do you actually save tax by negatively gearing your investment property? How does negative gearing help you save tax? There are a lot of investors in Australia who are negatively gearing their properties with the promise that it’s going to help them save […] The post How Does Negative Gearing Help You Save Tax? (Ep313) appeared first on On Property.

Kids get ice rinks - we Save Tax dollars because Toronto rinks are paid by Corporate Sponsors announces Mayor Rob Ford. Support the show (http://www.condoradio.com)