Why tax planning mid-year is just as important as year-end tax planning.
So, anyone that knows me knows I’m a huge fan of this. Waiting until the year end or worse after the event to consider tax planning – it's just too late.
In a perfect world, tax planning would be part of your budgeting and forecasting process. Even more importantly, your tax plan needs to align with what you want to achieve from your business and your dreams. Beginning with the end on mind really does come into its own with tax planning.
The truth is, most businesses leave it too late.
So mid-year planning really matters because:
It gives you time to adjust income and expenses – enough time so changing them will actually have an impact in the year.
Like most things, having a good plan and being organised goes a long way in making sure you get the best out of things, and tax planning is no different.
Take control of your tax planning today to ensure a smoother year-end!
