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.
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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2