Tax Consulting
Tax consulting services are provided by tax consultants who help businesses and organizations with various tax issues. These issues may include preparing and submitting tax returns, researching tax laws, minimizing taxes, reducing penalties, and arranging payment options. Tax consulting services also includes staying updated on legislative changes and tax regulations.
Tax Planning
Tax planning, on the other hand, involves developing a strategic plan to minimize taxes over the long term. This may involve setting up trusts, or other investment vehicles to take advantage of tax breaks. Tax planning also involves forecasting future tax liabilities and implementing strategies to reduce them.