Good and bad sign of effective tax management

Good and bad sign of effective tax management

There is a way for almost everything in life, and in a company it is not much different. However, the sooner errors are detected, the more improved the new actions can be. Some ways to correct bad management are as follows.

Change the tax regime

Much of the unnecessary spending comes from an inadequate tax regime. It is possible to make comparisons between the costs of each one and the rates paid, through tax planning. When doing an analysis and making sure that the best solution is the exchange, the manager can do it. However, it is important to respect the deadline for this change, which is usually in January. If you miss the date, you will have to wait for the next year.

Hire an accounting office

The concern with good planning and with the best decisions must exist since the opening of the enterprise. However, even with the business already underway, it is possible to repair some procedures and put it on the best path, with the specialized help of a multidisciplinary team formed by accountants, administrators and lawyers that an accounting firm can offer you.

A great advantage of doing this is to have cost savings, since you will pay less Taxes as an independent contractor. In addition, as the decisions are more accurate and the information issued will always be correct, there is no need to fear any action by the inspection bodies. There is also greater security in labor relations, leaving you more relaxed about the future of the company.

Signs of good tax management

Check out some signs that we are doing everything right in tax management.

There are no problems with the tax authorities

If taxes are paid every year, ancillary obligations are fulfilled, and to date, the project has had no problem with the inspection of public agencies, this is a great sign. Each year the tax authorities are intensifying and making their collections more efficient, including the fact that we see news about hundreds of businesses that are caught and need to justify inconsistencies and pay huge fines.

Has good financial health

In the beginning it is difficult and totally acceptable that the company is not yet able to achieve a high return. However, she must always have planning, monitoring and good financial health. This means that the cash flow must be balanced, there should be no surprises with payments of taxes and fees and the budget, financial and balance sheets must be favorable.

Account organization in documents

The organization of documents is another indication of good tax management, since it is through them that the declarations and accounts will be made. It is important that vouchers, invoices and whatever else is needed are kept in a safe place, without risk of loss, theft and invasion. Knowing the legislation well is essential for good management to always exist.