What is Tax Structuring?
The realm of tax structuring includes activities that are related to planning and strategizing to minimize taxes. Tax structuring is often referred to in terms of business taxes, as tax payments can represent a significant portion of the costs of running a business. As such, businesses of all sizes use tax structuring to keep tax payments as low as possible and maximize deductions. An important part of tax structuring is deciding how to set up a business before commencing operations. A business may run as a sole proprietorship, general partnership, limited partnership, corporation, or limited liability company. Each type of business entity has both advantages and disadvantages. Often, business owners seek tax structuring services to help them choose the best option for their businesses, develop tax plans, and avoid common taxation pitfalls. International tax laws are another important consideration in tax structuring. Many businesses have operations in a foreign country. This can lead
