Tax Planning

It is the process of developing efficient tax reduction strategies with the necessary execution to adhere to tax laws. Tax planning involves the analysis of financial situations and structuring of transactions that support tax benefits. Other methods include tax deductions, tax credits, deferral of income, and tax-favored investments. Another function of tax planning is the optimization of the timing of income and expenses for individuals and businesses. Making financial decisions tax-optimizing reduces the costs otherwise raised or incurred and hence enhances savings for long-term financial goals.