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Why is it Important to reduce your Tax Liability?

As the rates of tax for people and company entities are remaining the same for the 2015 income year, the design opportunities won’t make to any immediate tax windfall. The available methods simply lead to a timing difference for tax functions (unless you’re personal and your marginal rate of tax is less within the 2015 financial gain year). That being said, having more money in your hand creates extra investment opportunities and also the ability to grow your wealth quicker.

Always have interaction the services of a knowledgeable. In the constantly evolving field of tax law and therefore the progressively sophisticated information matching conducted by the ATO (and resultant audit activity), the services offered by a tax agent are getting a lot of important.
Generally, a person’s financial gain is derived and deductions are incurred on a receipts basis. As such, the subsequent opportunities are accessible for an individual to reduce their current year liabilities.

1. Prepayment of deductible expenses:

An individual can claim a deduction for prepaid expenditure for a period not exceeding twelve months. The types of prepayments include:

• Income security insurance
• Interest on investment loans
• Subscriptions Memberships and
• Rental properties expenses

2. Capital Gains Tax (CGT)

An individual ought to review the gains and losses on every asset inside their investment portfolio before year finish. The outcomes of the review may offer opportunities to:

Realize capital losses to offset any capital gains that were created earlier within the financial gain year.
Defer realization of capital gains till July.
Ensure assets are held greater than twelve months before the sale, therefore, the five hundredth discount may be applied to the gross financial gain.

3. Salary packaging arrangements

An effective regular payment sacrifice arrangement can scale back a person’s marginal rate of tax. The written agreement arrangements ought to be put in place (or reviewed and updated) before year finish as a personal cannot build a regular payment sacrifice arrangement for financial gain already attained. A typical regular payment sacrifice arrangement might embrace the following components:

• Extra superannuation contributions
• Motor vehicle cost
• School expense

If you have any question or looking for a certified public accountant then Ed Lloyd CPA can help you with your end of year taxes and reduce your tax burden and increase your yearly tax refund.

Contact for more information
Ed Lloyd & Associates, PLLC
8045 Corporate Center Drive, Suite 100
Charlotte, NC 28226

 


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BENEFITS OF CONTRACTING ED LLOYD AND ASSOCIATES

PLAN YOU FINANCES WITH ED LLOYD


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Most of the business owners wish to hire the services of a highly reputed company that has years of experience in providing financial services for the purpose of developing and enhancing their client’s business. It is not easy to commence a new business without the assistance of such experts who handle all the management and financial issues in professional manners.

Ed Lloyd & Associates PLLC is one such name to reckon with if you are in need of highly skilled professionals that can handle all your finance related needs.  It is a firm based in Charlotte that has been delivering meticulous accounting and tax planning services from last many years.  The professionals of Ed Lloyd & Associates PLLC have long-term working experience in this industry, hence they understand the individuals as well as the business requirements of their clients. They go an extra mile and provide you what you have always been looking for.

The team at Ed Lloyd & Associates enjoys a long-standing reputation in the region. There is a long list of happy customers that can speak for the professionalism and expertise of the professionals. The accountants also maintain books and other accounting records of the client and the customer. They also prepare audits at the request of the client and also provide the same to the tax and other governmental authorities.  Contact the professionals of Ed Lloyd CPA and ensure smooth functioning of your business. They can handle all your accounting details effectively.

Ed Lloyd & Associates providing tips to their clients on saving on taxes this year to gain maximum tax return.


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WHAT IS SO GOOD ABOUT ED LLOYD & ASSOCIATES PLLC?


 

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Being a self-employed has its own advantages.  It not only opens the door to new opportunities but also provides you lucrative options to double your expenses. Ed Lloyd & Associates PLLC are a trusted source in the United States from where you can obtain a top notch accounting and tax planning services.  It has a team of some highly skilled, talented and qualified professionals who are committed to passing on meticulous services each and every time.

Being a self-employed, you can get immense tax benefits. Business owners can make more earnings by saving 15% against the salary income. Many freelancers and self-employed business owners can deduct a proportion of electricity and heating bills. Renting or purchasing a 100% out-of-home office, all of the utilities for the given space are 100% deductible. Phones used for business will be eligible for legal self-employed deductions. This will also include a second line used at home or a mobile phone for business usage.

The team Ed Lloyd CPA, employ proven tips and strategies to ensure you can save your hard earned money. After carefully assessing the business needs of your firm, they would come up with a great plan to make effective use of your resources.

The team Ed Lloyd & Associates enjoy a long standing reputation in the region.  There is a long list of happy customers that can speak for the professionalism and expertise of the professionals.  Contact them now to know more about them.


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TIPS FROM ED LLOYD & ASSOCIATES PLLC FOR STRATEGIC TAX PLANNING TO SAVE DOLLARS

MERGERS AND ACQUISITIONS MADE EASY WITH ED LLOYD & ASSOCIATES PLLC