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
- Personal finance strategies by age
Your financial strategy should change as you age. Here is a general guidline for each stage of your life. Earn, growth Invest and save Read more
- First Income Tax – Egypt 3,000 BC
The first income tax is generally attributed to Egypt where the Pharaohs collected taxes from their citizens. There is documented evidence of a biennial Read more
- Lower Your Prices by 10%
Lowering your selling prices will increase sales when your product or service has an elastic demand curve i.e. when you slightly lower your prices, Read more
- 1773 – A Tax on Tea
The East India Company (EIC) was a British joint-stock company formed in 1600 to pursue trade 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