#smallbusinesstax

HMRC tax investigation triggers UK

New tax year UK 2026 changes and planning. Optimize your allowances, reduce your liabilities, and secure your financial future today with Protax Consultants Ltd.

If you earn income that is not subject to withholding — self-employment income, freelance work, rental income, or investment gains — you are likely required to make quarterly estimated tax payments. Missing these deadlines does not just mean a late payment. It means penalties and interest that add up fast. Here is what you need to know: 📌 Q1 payment covers January through March income 📌 Use Form 1040-ES to calculate your estimated obligation 📌 The safe harbor rule: pay at least 100% of last year's tax liability (110% if your income exceeded $150,000) 📌 Set aside 25-30% of every payment you receive for taxes throughout the quarter Do not wait until April to scramble. Plan quarterly, pay quarterly, and avoid surprises at filing time. Our team specializes in small business tax planning. Schnoldine Lynn Joseph — Tax Accountant, EA, IRS Enrolled Agent, Realtor John Clerge — Paralegal, Realtor, Insurance Agent, Notary Public, Financial Restoration Specialist 📞 (844) 200-8027 | (973) 392-2785 🌐 book.jrickssfinancialservices.com

If you earned 1099 income in 2025, your tax return requires more than plugging numbers into free software. Self-employment tax alone is 15.3% on your net earnings. That is on top of your regular income tax. Without proper deductions, you could be paying thousands more than necessary. Deductions available to self-employed taxpayers include home office expenses, vehicle mileage, health insurance premiums, retirement contributions, business supplies, professional development, and more. But these deductions must be calculated correctly and documented properly. Aggressive deductions without support trigger audits. Missed deductions cost you money. Schnoldine Lynn Joseph, EA, specializes in self-employed and small business tax preparation. She knows which deductions apply to your situation and how to maximize your return legally. Do not leave your self-employment taxes to guesswork. 📞 Call (844) 200-8027 to schedule your appointment before April 15. Real estate inquiries: (973) 392-2785 JRICKSS Financial Services

✔ Preparation of Form 1065 Partnership Tax Return ✔ Preparation of Form 1120S S-Corporation Tax Return ✔ Complete Schedule K-1 for partners/shareholders ✔ Review of financial statements and deductions ✔ Accurate tax calculations ✔ Organized documents ready for IRS filing ✔ Guidance on required tax documents Lets work together: https://www.fiverr.com/s/Q7mxDaw

Read for more information:- https://taxconsult.com.au/blog/claiming-business-expenses/

Read for more information:- https://taxconsult.com.au/blog/claiming-business-expenses/