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How is Tax Compliance Different from Tax Planning?

The dissimilarity between tax compliance and tax planning is that compliance is not as proactive as tax planning. While tax compliance is a required component of any company tax plan, it does not take advantage of changing tax codes. Tax planning also needs to be able to project both business and personal tax liabilities as well as the solutions that help you avoid potential tax pitfalls. To know more visit here https://www.straighttalkcpas.com/business-tax-planning-casper-wyoming

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How is Tax Compliance Different from Tax Planning?

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  1. How is Tax Compliance Different from Tax Planning? The dissimilarity between tax compliance and tax planning is that compliance is not as proactive as tax planning. While tax compliance is a required component of any company’s tax plan, it does not take advantage of changing tax codes. Ensuring that your business is ready for tax season should be a top priority for every business owner. is customized to the specific financial goals and needs of your business. Here are a few tax planning tips for your business: Business tax planning in Casper Wyoming Leverage bonuses and retirement contributions Be aware of changes to the business tax rule Invest in business equipment and supplies Accelerate income or defer earnings

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