Tax Management

We have to share part of our income with the government whether we like it or not, but with the help of smart income tax management, we can arrange our affairs or expenses in ways that would avoid or postpone taxes altogether. Effective tax management techniques provide you with extra money to invest, save, or do both.

We can also understand that tax management means either avoiding or deferring taxes by taking full advantage of the beneficial tax-law provisions, increasing tax credits and tax deductions, and by making good use of all applicable deductions that are available under the income tax act.

Since taxes are a significant expense throughout life, financial management and tax management are closely related. Taxes will eventually become your single largest expense if you become extremely wealthy, thus managing taxes is an essential step in the process of managing your finances overall.