Many cities in the country begin an economic opening, after more than two months of social isolation, a measure adopted to face COVID-19. In this moment of reopening, budget planning that includes strategies for tax redemption can be fundamental to the financial health of your business. Income tax calculator has as main objective the improvement of the accounting, financial and managerial organization of the business, with the effect of legally reducing tax costs.
In compliance with legal parameters, without setting up tax evasion, it is possible to increase your company’s earnings, whether with increased profits, greater investment capacity, or even obtaining a more competitive final price for your product or service. Proper tax planning implies better financial management of the business. However, it is advisable that the planning is done by a competent professional and accompanied by a Compliance program, thus avoiding the risk of fines coming from the supervisory bodies.
Small and large businesses
The size of the company and the tax regime adopted may interfere with the characteristics of the tax management implemented. For example, one way of doing this work is to simulate the amounts that would be collected if the company opted for another tax regime, in order to assess whether the current framework is the most financially advantageous.
Whether it is a small or large business, tax planning is important especially in times of crisis, especially in the review of previously paid taxes and the possibility of refunding amounts eventually overpaid. However, in order to reassess the taxes collected, it is essential to have the assistance of a trained professional, since a reduction in the total amount collected may awaken the tax authorities for eventual inspection. Therefore, choosing the right tax regime for your business is essential. So, talk to your accountant, analyze the possibilities and decide whether it’s time to change or not.
Controlling cash flow
Cash flow is an important organizational tool that allows you to have more control of your expenses. Paying all taxes correctly and intelligently, reducing costs, benefiting from tax exemptions or benefits, having predictability in budgeting and focusing your attention on making strategic and correct decisions do not generate any other possible result but the highlight in the market of performance. For this, it is necessary that you have a team of lawyers and accountants who know how to do tax planning for your company, directing it to the best possible alternatives towards success with regard to tax issues.
Investing in tax management is a decision that does not involve only tax obligations. In fact, it sets up a support on which you will expand your company. Deficient tax management may put the entire business structure at risk, while well-planned planning allows for robust and consistent growth, above the market average.