You may not know it, but there are legal measures that can be taken to reduce the impact of the tax burden on an activity. However, while some seem simple enough to execute, it is essential that you act carefully and rely on tax advice to avoid errors. This text, will talk about the measures that can be taken for a safe reduction and will show how much they can contribute, if they are applied efficiently.
- Organize the company
To save on taxes, the first thing you need to do is organize your business. It is essential to have the documents in hand and a total control over the financial reality of the enterprise. In this way, it is easier to think of strategies that aim at reducing the tax burden.
For this, seek the help of good administrators and accountants. Together, you can establish optimal strategies to optimize your company’s actions and base decision-making on reliable and accurate data.
- Discover the best legal framework
It is essential that you know the reality of your business and have good tax advice. It is important to keep in mind that the simpler regime is not always the most advantageous or the most economical. Depending on your activity, a more complex regime can bring certain benefits and generate savings.
Assumed Profit also has the taxation system on the profit for its heavier taxes, but it applies the rates on specific percentages of the presumption of profit.
- Pay attention to tax benefits
Another important issue that contributes considerably to reducing the impact of the tax burden is the tax benefits. Review federal, state and municipal legislation and find out if there is something specific to your activity. Be careful about the possibility of joining the program, since they are always directed at companies that fall into specific taxation regimes.
- Reduce pro-labor
Although it is necessary to pay it, it is not mandatory that the entrepreneur fits into the highest contribution ranges. Therefore, you can keep the withdrawal at a lower value to also reduce the contribution.
Talk to your accountant and think of a strategy to reduce pro-labor and increase profit sharing. This helps you to save money and is totally legal. Remember to also talk to your members and organize this action in a way that is advantageous and equal for everyone.
- Subdivision the company, if applicable
In some situations, subdivision can be a way to reduce the impact of taxes. In case the company performs more than one activity, you can frame each activity in the best tax regime and obtain a global economy. Although for some of the activities, there is a tax increase.
- Do a tax planning
This is essential for you to save safely. Among tax planning strategies, there are the offsetting of tax credits, the adoption of actions that prevent the practice of tax-generating facts and much more. Tax planning should be done in time and with the support of professionals who have in-depth knowledge of the legislation in force and the particularities of your company.
Through it, in addition to saving money, you can reduce the number of procedural errors, avoid paying fines, and even reduce the risk of lawsuits or administrative proceedings.
- Do not mix personal accounts and company accounts
By blending your expenses with the company’s expenses, you can undermine management and make taxing bigger. As a result, in addition to paying more taxes and having losses with your monthly withdrawal and your annual profit, you can still answer administrative cases and pay fines for inaccuracies in calculations or misreporting reports.
In administrative and managerial matters, the biggest one affected by this type of error is the cash flow. By wrong inputs and outputs, the control becomes permanently out of phase and loses its objectivity. So if it is used by a manager for analysis or decision making, it will surely lead the trader to error by not being accurate and reliable.
- Outsource nonessential activities
Outsourcing non-core business activities helps a lot by reducing the tax burden. That’s because the more employees you have, the more taxes you have to pay and the more obligations you have.
So, think about how to organize the work without harming the service and customer service, and then define which areas can be outsourced. In addition to save the employee, you will still have the possibility of having qualified and professional teams up to date, with specific focus on the area of operation.
- Understand the Labor Reform
The changes made in labor and related laws, can also serve for companies to reduce the tax burden and even other costs.
For example, the labor contract that pays the employee for productivity became legal. Thus, this may be of interest to employers in hiring for specific jobs, which are usually costly, and the best return on investment in wages and entitlements paid can be drawn.
- Count on good accounting advice
As you’ve seen throughout the text, several actions can help you save on taxes. However, mistakes can lead to tax evasion, which you certainly do not want.
So before applying these strategies, look for professional accounting experts and present your company’s situation to them. This will make you act safely and have peace of mind. Reducing the tax burden is a must, but this must be done right, because only then can you optimize profits.