Taxation is the set of rules and laws that govern the taxes that tax the activity of companies and individuals. The correct interpretation of Taxation and its application to the reality of each activity defines the tax burden of each company.
It seems that talking about tax planning is talking about tax havens, tactics to avoid taxes and other stories so as not to sleep. None of that: it’s simply about having control of what has to be paid, how to do it, where, for what concepts, and evidently, to know if there is any legal aspect that benefits the company. It is done. Pay taxes, for one issue or another, all companies end up paying.
Such is the importance that fiscal consulting services have proliferated for many years. Gradually, the tax system expanded its scope, and therefore, the way to control and plan the way to address taxes was expanding to all types of companies.This advice is especially relevant for small and medium enterprises. They usually look for an outsourced fiscal service, since it is cheaper than having their own resources. Here are some tips to choose the best Tax Consultants Canada.
What do you want?
First, study your field of action, that is, analyze your needs and know what type of service you need. For example:
- Tax advice
- Investment planning
- Inspection and tax claim procedures
- Local or territorial taxes, etc.
Second, it is important that you study the size and type of activity of your company. A retail business is not the same as a real estate or agro-food industry. It is not the same a company that only has a headquarters in Canada.
Think about the future
Once you have all this clear, use your conclusions. When you have them, as you have already done an investigation and an analysis of your needs, you will be guided in the search for quality professional services that can cover all your needs. Now, do not think only in the present! It is always appropriate to think about the situation in which your company will find itself in the medium term. Have you considered if…?
- Are you going to export and do not currently do it?
- Do you plan to carry out R & D activities?
- Are you going to acquire assets?
An important decision
Keep in mind that taxes and their management are a great responsibility, so it is essential that you know the team or advisor who will manage your fiscal strategy and trust it. In addition, and especially in the case of SMEs, the tax advisor can influence many decisions, which can then have a direct impact on the rates that will be paid later.