Tax planning is the arrangement of one’s financial and business affairs by taking legitimately in full benefit of all deductions, exemptions, allowances and rebates that tax liability reduces to minimum. Considerations concerning tax planning will include timing of income, timing of purchases, planning for expenditures, and size. Tax planning is vital for small as well as large businesses since it will be helpful for achieving business-related goals
DEDUCTIONS OF TAX LIABILITY
MINIMISATION OF LITIGATION
PRODUCTIVE INVESTMENT
ECONOMIC STABILITY
Our Approach
Tax planning involves conceiving of and implementing various strategies in order to minimize the amount of taxes paid for a given period. For a small business, minimizing the tax liability can provide more money for expenses, investment, or growth. In this way, tax planning can be a source of working capital
Our Experts at Future Savings, recommend that entrepreneurs and small business owners conduct formal tax planning sessions in the middle of each tax year. This approach will give them time to apply their strategies to the current year as well as allow them to get a jump on the following year
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