Tax Planning is the method of reducing tax liability through legally accepted devices whereas budget planning is managingincome and expenditure of a person or organization.
The tax planning is reducing the tax through legally devices where as the budget planning is managing the income and expenditure of an individually or organization.
Tax planning is legal while tax avoidance will get you into a lot of trouble
Corporate planning is planning made for your business while tax planning is minimizing the taxes you pay in a legal manner
State goes to state budget & Federal goes to ferderal budget.
1.tax planning is a wider term and tax management is narrow term which is a part of tax planning. 2.tax planning emphasizes on tax minimization whereas, tax management is compliance of legal formalities . 3.every person does not requires tax planning but tax management is essential for everyone. 4.tax planning is about future benefits and tax management is about present benefits.
Evasion involves using illegal actions (sham transactions, fabricated expenses, things like that) to not pay a tax that is due. Planning uses allowed structures and methods to reduce or delay the tax due, but making it so the amount and when paid are the best result for the taxpayer.
There were many increases in the Irish Budget between 2012 and 2013. These included an increase in property tax, an increase in VRT tax, and an increase in motor tax.
difference b/w direct tax and indirect tax
The biggest difference between a US annuity and a Swiss annuity is that Swiss annuities are not subject to the usual tax and bankruptcy reporting requirements and can be used in offshore tax planning.
Property tax is rather dictated and unable to be controlled as it is on the assessed value of the property...which is out of ones control.
the only difference between tax paid by buyers and tax paid by sellers is who sends the money to the government. Manga economics student
tax planning means how we make the plan for tax. we have toreduce the tax from our business & increase the profit as well.... are called tax planning.