Strategic tax planning is a proactive approach to paying taxes that minimizes the amount that a successful business must pay. This is done in a lawful way where regulations are followed and compliance is retained when it comes to paying taxes. Typically, the tax planning strategy takes place all throughout the year before taxes are filed so you know what to expect from fees and deductions. Larger businesses will often structure their business, provide employee benefits, and work on asset protection to maximize tax benefits.
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