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Tax planning: definition

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Tax planning: definition


Tax planning: By definition, Starting your own business means having to bear costs, which vary depending on numerous factors.

Taxes are among the most indigestible costs!

Regardless of the legal form adopted or which accounting regime you are applying, taxes are a judgment. If you don’t want to pay taxes, the only way you can is not to generate revenue and not to generate profits. Simply put, you stand still and do nothing.

Since it becomes difficult to live without producing income, this will then lead to taxes to be paid. Like it or not it is a vicious circle from which it is difficult to escape.

We then add that our country is one of those with the highest taxation on income, which is not insignificant if we consider that in many cases a profit is completely eroded by taxes.

The Italian tax mechanism that leads to the various payments of advance payments and balances on taxes generates a sort of duplication of payments. When, in June, we proceed to pay the balance for the income of the previous year, we also pay the deposit for the taxes of the current year.

This advance between June and November corresponds in any case to 100% of the taxes paid for the previous year without considering the real trend of the current year. The State asks you for the money immediately, then if you have paid more you will find yourself with a tax credit that it is better for you to proceed to offset with other taxes given the very long times to be able to obtain a refund.

Don’t worry because there is a solution and it’s called TAX PLANNING!

What does it mean to do TAX PLANNING?

It means formulating and implementing a plan with a program characterized by objectives and strategies to achieve them.

An initial analysis of your business or professional situation must be carried out. Then we will draw up an intervention plan together that can help you save on paying taxes.

At this point you may be wondering: “If it is so easy to save on taxes, give me a method that works for everyone and let’s start immediately with tax savings “.

If it were that simple it would be great and we would do another job. The reality is that tax saving is an objective that must be pursued with foresight, it is a constant, meticulous work, which must be carried out with seriousness and competence to obtain the desired results, furthermore the path that must be taken to achieve it is different. for every entrepreneur and more generally for every subject.

The secret of TAX PLANNING lies in having the right Consultants (Controller) at your side who evaluate and fully understand the unique and personal situation of each entrepreneur and each self-employed worker.

Tax savings and the strategies to achieve their change according to the category of subjects: sole proprietorship, partnership or joint-stock company, professionals, and in some cases also based on the accounting regime.

Tax savings can be obtained in terms of a reduction in the percentage rate of tax to be paid, such as for those who adhere to the flat-rate scheme, or through tools that help in reducing the taxable amount in order to pay fewer taxes: for example the disbursement of the remuneration to the administrators in the Srl and also in the partnerships, the disbursement of kilometric reimbursements.

The tools and strategies that can be adopted are various but each subject must use the one that suits his particular situation. Unfortunately, there is no one formula that works equally well for everyone.

The secret is a specific TAX PLANNING!

The periodic management control is a tool that allows you to plan interventions in order to help you pay fewer taxes and obtain tax savings.

Moreover, never as in recent years, different types of tax credits have been introduced in our legal system that generates direct tax savings as they are amounts that directly discount the amount of taxes to be paid. In this regard, for a concrete example, see our article on Tax credit for investments in capital goods [ https://www.csiestense.com/credito-dimposta-per-investimenti-in-beni-strumentali/ ].

We can use these tools to find the solution that best suits your needs. Take advantage of our offers and request management control and tax planning. You may find that you can start saving on taxes right away.

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