What to do and what not for less taxes in your business
Every businessman complains about taxes that are too costly for companies. However, entrepreneurs often pay far more taxes than they ought to pay by law because they may not be aware of the regulations best suited to their specific case.
If you manage a company, especially in the growth phase, it is crucial that you keep in mind the tax burden and the risks involved. It seems trivial, right?
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Yes, few entrepreneurs make a real strategy to prevent road accidents related to taxation and optimize their cargo.
No, it is not a legend, it is really possible to do. So, there are a lot of ways to pay less taxes, legally.
1. Study, plan, and keep up-to-date
Firstly, plan your company’s legal and corporate structure and keep up-to-date on how a whole set of tax-related dynamics works, how fiscal and budgeting work. If you are an entrepreneur, you should become a small expert in this area.
2. Absolutely not black!
Making black is one of the stupid people make to try not to pay taxes. But if you do, run 3 very dangerous risks:
- On the criminal front;
- On the emotional and the personal (imagining you can not close your eyes the night for fear that you will come home finance);
- And finally on the front of the Scaling Up.
Let’s concentrate on the latter. If you’re black and your business is trying to grow, what happens?
1. You will lose control
At one point, yes, you will lose control because you will not be able to make money in cash and have hundreds of employees. Your business will be small and that idea that looked like a “cool one” and made you feel cunning, instead you will come back against.
A company scale must have accounts in order, it must have a bombardment accounting system.
2. You will not get funding to grow
If you go and your business grows, but then it does not have the benefits because burned by your blacks, companies or banks, they will not fund you and so you can not grow anymore.
It’s a cat that bites the tail: I’m black, I do not pay taxes, I do not use it, I’m not trusted by banks, I can not increase the circulation, I can not grow, I keep black, and so on without going nowhere.
And then think about it
Taxes are proportional, so if you earn so much, you’ll pay so many taxes, there is not much to do. Paying so many taxes, however, is a symptom of a company that works well, trustworthy for banks, and can, therefore, get funding to work even better.