TAX PLANNING & ADVISE
True Tax and Accounting Services provide tax planning to small businesses and high-income earners to create a tax strategy that works for you. We bring your financial affairs to let you avail of the benefits of tax planning. However, we suggest you start your tax planning with us as early as possible.
The fundamental to any tax planning strategy is to understand the financial objectives of the individual or business entity. Our experts suggest a tax strategy that makes your business grows while minimising the tax burden.
The proactive approach of our tax planning experts adds clarity and confidence in the way you conduct your business. Our taxation experts do a comprehensive tax planning process that makes your overall business structure as tax-effective as possible. We guide you regarding the maximisation of tax benefits in case of asset purchase of leasing. Also, we keep you updated with the latest changes and developments in tax legislation that may have an impact on your business.
Our experts suggest you options that may reduce your tax liability, for instance, writing-off obsolete stock and bad debts or taking advantage of small business concessions like prepayment of certain expenses before June 30th.
We also work with our clients in reviewing their stock listing and write-off for all the stock that is of no use in the business. By writing it off, our client’s tax liabilities are reduced within the limits of regulations. The second aspect on which we keep a close eye is writing off bad debts. We advise our clients on reviewing the debtors’ list, and write-off their bad debts before June 30th, and it is a legitimate way to write-off debts and reduce tax liability.
Similarly, business owners and small businesses can make prepayments of expenses before June 30th and obtain a full tax deduction for the entire year.