Six Tax Planning Options
Accounting practices have six options available to them in relation to providing tax planning services. Some practices will choose one option (strategic pathway) and others several. In addition, over time different practices will change their focus and add/or delete different options. No one pathway will fit or suit all practices.
The six tax planning service options are:
- Don’t start providing tax planning services.
- Continue providing tax planning services.
- Refer the clients to a tax planning specialist.
- Outsource option.
- Get trained up in tax planning and do it manually.
- Get trained up in tax planning and utilise Automated Tax Planning Software.
Similar posts you may like
- Employee share plan trust
Employee share schemes (ESS) give employees shares in the company they work for, or the opportunity to buy shares in the company. Employees generally Read more
- Digital Games Tax Offset
The Digital Games Tax Offset (DGTO) provides eligible game developers a 30% refundable tax offset for qualifying Australian development expenditures from 1 July 2022. It Read more
- Get a Will
Arguably, a Will is the most important financial asset for yourself and your family. It’s worth more than your house, your car, and your Read more
- Incorporated association
An incorporated association is a formal legal structure adopted by a broad range of non-profit organisations. Incorporated associations have the word 'incorporated' or the Read more
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2