Tax regime is the set of laws that define which taxes an organization must pay to the government, delimiting the amount of the tax according to its collection. It changes every 12 months, mandatorily, with the maximum limit for change until the end of January. As the average tax currently paid by companies is around 34% on their profit or revenue, being in the right taxation is vital because it can help you save on finances.
How to do your tax planning?
First of all, get to know your company. Only then will you know which tax regime is best for it. The analysis of points such as billing (gross and net), segmentation, fiscal and accounting control, expenses, operating costs and tax status of the partners is decisive for an accurate diagnosis, which simulates all possible X taxable operating scenarios. This can be done through a team or person dedicated only to the subject. Another best way to do effective tax management is to use the TurboTax alternative tool. You can also plan and monitor all your operations and their tax impacts in each of the forms of taxation, regardless of the chosen form and calculation regime.
Only make decisions if you are sure
If you have doubts when choosing the best regimen, consult your accountant or a trusted specialist. Thus, you will be able to make a comparison between the taxes and see which regime is best suited to yours. This step is essential so that your company does not tax operations at rates higher than it should. A specialized professional can help you “design” your tax planning, indicating the best criteria for calculating taxes and showing ways for the company to be free of tax contingencies such as fines that compromise the financial health of a business.
Don’t forget budget planning
It is useless to apply the two previous tips if they are not observed in advance and based on good budget planning. Here is the maxim: “to anticipate is to see before it happens”. Set up possible scenarios according to the data and information collected. Consider how your daily operation is, taking into account the economic aspects in which the country and its municipality are located and keep an eye on political trends aimed at the economic and fiscal areas.Only then will you be able to plan, with assertiveness, in the short and medium term with regard to the products and services offered, make annual growth projections, define sales prospects and project profit margins and operating expenses.
Do you want to know how TurboTax alternative can also help your company grow, regardless of its taxation? Search the internet and get all the valuable details that can help you setting up the perfect tax management under perfect tax regime.