What Is The Purpose Of Tax Planning?
Tax planning is the process of reviewing various options for conducting business and personal transactions for the purpose of reducing tax liability. It involves making decisions on the timing and method of completing transactions and the reporting of income, deductions, and credits.
What Is Financial Planning In Business?
Financial planning is the process of assessing the current financial situation of a business to identify future financial goals and how to achieve them. The financial plan itself is a document that serves as a roadmap for a company's financial growth.