The importance of good tax planning

Do you know the importance of Tax Planning? Many companies end up financially hurting themselves by the lack of good tax planning, a procedure responsible for keeping the tax burden and the economic health of the company up to mind. With the right planning, you not only avoid problems with the Tax Man, but also ensure that no cent of your business is lost. Did you get interested in the subject? Continue reading this article.

What is tax planning?

Tax planning is a financial management tool made so that companies and entrepreneurs can understand aspects such as values, deadlines and types of taxes that need to pay over the months. When done in the correct way, through legal and transparent procedures, the planning can identify ways to reduce the amount of the tax burden that must be paid.

Why is tax planning so important?

Companies that have a good tax plan comply with all the legal requirements of the State and consequently, are supported by justice. Regardless of the size of your business, whether micro, small, medium or large, tax planning is essential and indispensable in the financial organization of the same, making possible the reduction of business expenses and optimizing the work of the accounting team.

Benefits of tax planning

There are many benefits of carrying out tax planning, however, for your company to truly benefit, some specific skills and information are needed, so we strongly indicate the hiring of a competent and up-to-date accounting office. Check out below, some of the main reasons to invest in a tax planning.

Avoid undue taxes

Tax planning identifies taxes for each type of business, so in some cases it is possible to make use of the exemption of some taxes and tax costs.

Avoid fines

Lack of preparation is one of the main reasons for fines, since missed deadlines and taxes paid incorrectly are major causes of injury.

Reduced bureaucracy

The bureaucracy of the tax system can be more laborious than meeting all the deadlines and values established. Early planning analyzes all criteria that must be met in the future and identifies important factors such as the amount of claims that must be delivered and legal controls that must be made.

Types of tax planning

Good tax planning is carried out according to the needs of the company in question, being different for each type of business. Some of the main types are:

Operational tax planning:

Aimed at companies that prefer a more basic planning done every three or six months. This type of planning focuses on the tax obligations that the company has on a day-to-day basis, until the month of the next planning.

Strategic tax planning:

Strategic planning is aimed at companies that seek to comply with the tax regime according to their mission, vision and values.

Preventive tax planning:

The main objective of preventive planning is the prevention of possible errors. With it, the accounting team analyzes and predicts possible mishaps that may appear along the way.

Corrective tax planning:

Focused on the correction of errors, irregularities and possible deviations in tax management.

Special tax planning:

Conducted in specific situations that can have a great impact on the company, such as events, new product launches and inaugurations of branches and franchises.

Conmax Solutions Corporate helps you value your assets and liabilities.

Based in São Paulo and Fortaleza, but working directly in several states of the country, we are sure to be adding value to new customers, helping them through corporate accounting to further develop their business. We have a team composed of more than 25 professionals of higher education, continuously trained and specialized in various areas of activity.

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