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Understanding the Concept of Tax Planning in Details

Study the concept of tax planning, incorporate tax, inheritance tax and its various strategies that helps in constructing the financial plan which is beneficial for saving the tax payment.

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Understanding the Concept of Tax Planning in Details

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  1. Understanding the concept of Tax PLANNING in details Presented By: Barrington Howe Ltdhttp://www.barringtonhowe.com/

  2. What is tax planning? Tax Planning is the analysis of a financial situation from tax useful perspective. The purpose of tax planning is the use of tax exemptions, tax deduction and reducing  tax liability . Tax planning aim is to rearrange your financial affairs in order to reduce the amount of tax you pay. It consider the timing of income, purchases and other expenditures.

  3. Objective of Tax Planning • The main objective of tax planning that are helpful for us are …. • Help in reduction of overall tax liability. • Stability in economic. • Useful in economic growth. • Minimization of litigation.

  4. Types Of Tax • Various types of taxes that are we pay….. • Corporate tax • Inheritance tax

  5. Corporate Tax A corporate tax is paid on the profit of a firm to raise taxes. It is calculated by deducting expenses include the cost of goods sold and depreciation from revenue.

  6. Inheritance Tax Inheritance tax is a state tax which are paid on the money or assets which are inherited after the death of a loved one. The rate of tax is different and it depend on the relationship of the heir to the decent .

  7. Strategies of Tax Planning • The Tax planning strategies is useful for saving tax payment. They are…. • Always estimate your alternative minimum tax  effect. • Must consider a Roth IRA. • Pay the deductible expenses by using the credit card before the end of the year. • Increase your Flex Spending.

  8. Thanks For Watching Address:Suite 163, 2 Lansdowne Row, Berkeley Square, Mayfair, London, W1J6HL United Kingdom Phone no: +44 0203 086 8863 Email ID:www.barringtonhowe.com

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