Integrate Tax Planning into business forecasting
December 7, 2016
Preparing short-term and long-term forecasts is a valuable process that successful business owners do regularly to plan for future growth and profitability. However, these forecasting models are made difficult by ever-changing tax laws and typically do not factor in taxes at all. At the highest federal and state tax rates, a business’ profits could be reduced by 45 percent if proper tax planning is not performed.