of tax planning is the activity aimed to determine the tax effects that produce such financial transactions in order to choose the most appropriate legal situations that allow legitimate minimize the fiscal cost. This means you must plan in any way the tax effect arising from normal business operations and maximize the advantages granted by tax laws.
certainly should not be subject to financial tax planning tax evasion, and that payments for fees and penalties are not deductible for purposes of income tax.
The employer must study and know the tax rules in order to find a treatment and favorable consequences. Some of the things you should consider a company for tax planning are:
certainly should not be subject to financial tax planning tax evasion, and that payments for fees and penalties are not deductible for purposes of income tax.
The employer must study and know the tax rules in order to find a treatment and favorable consequences. Some of the things you should consider a company for tax planning are:
- Locate the company in an area where there are more favorable tax treatment. It is recommended to consult about Support Programs of the various states which are incorporated into this system.
- Accelerate or defer income or expenses, considering the future cost estimates based on the needs of the company.
- idle channel investments to those items that have preferential tax treatment.
- Choose more favorable methods for depreciating assets fixed and inventory valuation.
- Meet the maximum tax deductions.
- Meet tax systems for exemptions, subsidies or deferrals.
without limitation, general for any type of business, relate some of the provisions at any time can affect the activities of a business. Therefore, it is necessary to know the aspects that somehow involve the operations of the company:
- Revenue Act
- Tax Act Value Added
- Tax Law Income
- Social Security Act
- Federal Labor Law
- FONACOT
- INFONAVIT
- General Law Companies Commercial
- General Law on Negotiable Instruments and Credit Operations
- Civil Code
- Commercial Code
- Tax Code
- Customs Code
To make a good tax planning is recommended to perform the following steps:
a. Analysis of the operation
a. Analysis of the operation
The resolution of any fiscal problem is should establish in advance the objective to be achieved based on it, gather all the information needed to resolve each individual case, giving priority to the investigation of tax legislation that could affect operations at any time relating to the company.
b. Determination of alternative
After gathering the necessary information should be considered all related tax combinations operation to be carried out.
c. Analysis of options
This stage evaluates the the options, focusing on the following aspects:
- The legal possibility. They do not contravene the legal systems in order to avoid falling into tax evasion.
- The administrative cost. Is quantifying the amount of expenses that result from the application of each option.
- The decrease in tax levy. Is the determination of the amount representing the tax reduction through the application of each of the options studied. The amount of the decrease should be considerably higher than the administrative cost of the option chosen, so that in the application is actually effective.
d. Implementation of the choices
is the culmination of tax planning , which should reflect the results in a period immediately after implementation.
Finally, it is important to note that tax rules can change from year to year, and for this reason it is recommended that every month is pending any changes, including those relating miscellaneous tax to the end or the beginning of each year.
