Tax Optimization Advisory:
Finding outside sources of capital can be a challenge for private companies. That’s why saving tax is often the first line of defense for owners of private companies. Tax optimization can lead to an additional source of cash. The lower a private company’s overall tax rate, the more cash is left at the end of each year for the owner to reinvest in the company, or to consider as profit.
We at Catalyst consult on areas where a company can maximize and we also offer services to optimize on available opportunities.
A tax planning strategy is a method by which you determine when, how, or whether your taxes can be reduced, if not totally eliminated. It can help manage the personal and business transactions so that you can save for your expenses, expansions, and investments. These days many entrepreneurs are looking for experts who offer effective tax planning services. They have a keen knowledge of tax optimization and can select which strategy (or strategies) would work best for certain situations. At Catalyst, we provide the tax optimization strategies for you.
Hiring experts may cost some, but doing so can certainly save you a lot more in the end. And with us, you play safely on both ends. We do not charge any extra fees and you can conclude that it's an investment worth making.
A tax planning technique can be straightforward or complex. It can be designed for either for a personal situation or a corporate. Whichever though, a professional tax planner will likely advise you to adapt not just one but several strategies to optimize your tax cuts. And regardless of the number of techniques, they are expected to accomplish any or all of the following:
Tax Rate Reduction
You can't literally make your tax rate lower but you can do some things to attain such effect. One of these is by handing over investment assets to your children. Children belong to the "lower-bracket taxpayer" so they are not required to pay as much as you do.
Taxable Income Reduction
The best way to reduce taxable income is by availing all possible tax deductions both for personal and business situations. This means that you should know what the deductibles are. For instance, there are special deductions that may apply on business trips, automobile expenses, and even meals and entertainment.
Delay the Due Date for Your Taxes
The idea is to legally delay the schedule for your payment. You can do this by doing things that will hold up the due date of declaring an income item.
The rule of thumb is this: Minimize taxes now even when it means paying higher in the future. No one knows what's going to happen anyway.
A tax haven is a nation which has practically zero income tax. Some tax havens have zero tax charges, while others may have low expenses - or only tax local income not worldwide income.
A financial tax advisor (also known as tax planners) is a specific type of financial professional that focuses on income taxation. Tax advisors can be CPAs (certified public accountants), general accountants or even tax attorneys. These are the professionals that you turn to when you need help with income tax preparation or if you questions regarding your taxes.