Wednesday, October 17, 2012

How to really flourish? Tax Planning!

(Note: This blog post is inspired by my post-lunch conversation and exchange of ideas today October 18, 2012 at Figaro Coffeeshop in Tomas Morato Avenue, Quezon City with businessman George Chua Cham of Dagupan City, Pangasinan province, the Philippines)

No matter how much a person or a company earns every year, it is important and wise for people to do wise and careful tax planning in order to minimize unnecessary over-paying of taxes. Please don't get me wrong, I am not advocating tax evasion or tax avoidance, but the fair and wise strategy of avoiding the pitfalls of over-paying taxes.

How does a person or a small company or business undertake this? I recommend that you seek out a good accountant and a good taxation specialist lawyer for consulations, for planning.

If you don't do wise and careful tax planning, this is the possible dire scenario as described by 20th century American humorist and actor Will Rogers in a hyperbole and hilarious way.

--"If you make any money, the government shoves you in the creek once a year with it in your pockets, and all that don't get wet you can keep."  ~Will Rogers

1 comment:

  1. Thank you for sharing your knowledge on tax; it’s very helpful and informative. It is important for people to know more about tax, especially if they own a business. For any purpose, tax planning is needed, as this will help them avoid unnecessary expense and also help in managing any finance, whether it is business or personal.

    Tax Planning