Tax planning is called a set of legal systems that aim to reduce the payment of taxes, that is, the tax framework of your company. The taxpayer has the right to structure his business in the way that seems best to him, seeking to reduce the costs of his enterprise, including taxes within the parameters of the law, of course. But, how to carry out this planning? We will answer this question below.
How to carry out tax planning
To start your planning, you first need to collect the following information:
- Billing forecast (ie gross revenue)
- Forecast of operating expenses
- Profit margin
- Amount of expenditure on employees.
Why is this information so important? The answer is simple: they are the ones who will guide you in choosing your company’s tax framework. You will compare this information among the available tax regimes and choose the most advantageous for your company and that fits your activity and billing, as we informed earlier. The sales tax calculator is one perfect tool for the tax calculation.
What is the importance of the correct choice of the tax regime to be adopted for the company?
The importance is in not paying taxes beyond what is due. In the same way, you shouldn’t pay less than what you owe. In general, there are three more generic modalities, but not always can a company opt for any one of them, since the only one that accepts all companies is the Real Profit. In extreme cases, it may be that the company can be classified only in Real Profit. Still, it will be able to choose whether the calculation will be quarterly or annual. Within the annual modality, you can still choose between the estimation regime and the monthly balance sheet survey (suspension and / or reduction).
What are the main factors that must be considered in order to arrive at the most appropriate model?
Difficult to generalize, because each case is different. It is not possible to say, for example, that a certain segment must always opt for a certain tax regime. The individual situation of the same company can change from one year to the next. Thus, it is important to be aware of which models are applicable to a particular company and, regularly, check if it is still the most suitable.
How is the situation analyzed to define the best tax regime?
In general, calculating based on the reality of the company. Imagine that a company can opt for Presumed Profit or Real Profit and, historically, has opted for Presumed Profit because it is more advantageous for it. It can happen that, in a certain period, it shows a loss, eventually making the Real Profit more attractive.