There are few people in the world attracting as much media attention as Donald Trump at present. Love him or loathe him, he’s now got less than a month left to see if he can get behind the President’s desk in the White House and is determined to prove himself as a political figurehead. With all the commotion, it’s easy to forget that Donald Trump is in fact a businessman.
One of the most recent issues surrounding Mr Trump is very much focused on tax. For those who have missed it, Mr Trump is alleged to have avoided paying tax on almost $1 billion of revenue from within his business empire over a twenty year period.
Clearly there are huge moral questions given Trump’s political aspirations but, that aside, has Trump done anything legally wrong? We are unsure but like the vast majority of those in the upper echelons of the business world, he will have employed an exceptionally talented financial team to work their magic, identify loopholes and save him as much money as possible.
SMEs can save tax by being shrewd and making sure all expenses are legally claimed back. Of course tax savings are relative to your business, but the support of a well-versed and determined financial team is a sure fire way to take your finances to the next level. Those with a ruthless business streak often come in for a great deal of criticism – but in our experience, it is usually from those who are yet to find the right bookkeeper or accountant.
Our team at The Financial Management Centre can help you with everything from your bookkeeping right through to your tax return. We can advise on what you can claim and what you cannot which may save you money. Call us today to see how we can help you – 0800 470 4820.