Tax is off course one of the most important expenditure that every citizen has to pay. The money collected is used for our welfare. Government build roads, school, and hospital also enhances these basic system.
But still we feel little scary in paying our hard earned money. So don’t worry cut down your tax and pay less money because you are not obliged to pay tax for which you are lawfully liable.
- Minimize your stocks
- It is always better to sell stocks which are slow and less profit is oriented from it. The stocks attract taxes.
- Talk your landlord and try to cut down the rental cost by leaving the areas that are not excessively used by you.
- Paying bill on time is good but never pay it too early. You can use early payment discount if offered.
- Never sell your product in loss. Making profit in business is very critical and it will only decide you are in profit or not.
- Rely on credit cards, it is easy and have interest free period utilize it.
- Sell products at low cost which is not generating profit and the money earned should be invested on those product which gives profit.
- Care for your customers
- You can often provide credit to your regular customers and those who pay on time
- Keep papers and claims with great care. Papers are of great worth, it is a record that you can really show when required. You can claim for tax avoidance by the help of these papers.
