How to save taxes
Tax saving tip # 1: working with a good tax advisor
Tax law is complex. There are as many options as pitfalls. By working with a good tax advisor, the self-employed, limited liability companies and other companies can save taxes and avoid fines and annoyance with the tax office.
Cost savings by working with a tax advisor
Working with a qualified tax advisor offers decisive advantages, especially for self-employed and smaller companies.
- Time savings
If you are self-employed or a small entrepreneur and take care of your tax and annual accounts yourself, you have to spend a lot of time that should be better invested in the core business. While a seasoned tax advisor can do many tasks in a jiffy, lay taxpayers take an enormous amount of time.
- Lack of expertise
A lack of knowledge of tax law and individual interpretations can quickly make money. Tax benefits are not used and therefore playful. And false information to the tax authorities and missing deadlines can have unpleasant consequences.
- High costs for accounting staff
The employment of own employees in bookkeeping and wages and salary accounting usually causes high personnel costs. A tax advisor, on the other hand, only incurs costs that are based on the actual effort.
- Overpaid taxes
There are numerous ways to reduce the tax burden to a tolerable level through tax optimization. A good tax advisor with well-founded specialist knowledge can systematically comb through the tax thicket in order to determine tax savings options that take into account the specific company and branch relationships.
Tax saving opportunities for larger companies and KMUs
The challenges of tax optimization are manifold for larger companies and SMEs. The individual situation must be checked for each company. The next step is to develop suitable strategies for tax optimization.
Examples of tax saving opportunities for large companies:
- Vehicle fleet
- HR policy
- International tax law
- Funding options
- Profit taxation
- Organization of group companies
- foreign branches
- Double taxation
- Real estate valuations
- Shift value creation
- Rating advice