The need to predict and control business costs runs through every business level. And this same need for control applies to taxation as well. Suppose you are operating your business or your investment portfolio, and your tax liabilities come as a surprise (or shock). In that case, you are not in control of your overall financial position.
Tax is a business cost – and tax forecasting is part of a business process.
At Westcourt, we view taxation as just another controllable (within a range) business and investment cost with the ability to forward a plan that cost. So, the ability to forecast and predict your tax liabilities is simply a matter of understanding your affairs and giving you real-time tax liabilities and payment dates.
The use of cloud accounting, monthly accounts and monthly reports with a deep and clear understanding of tax law can give a business a proper understanding of their net profit after tax – and the ability to forecast your tax liabilities. And this clarity of taxation and the forecast tax cost will allow decisions on the use of funds over time.
This tax forecasting coupled with tax structuring options creates a forward-looking approach to taxation, finance and accounting that is unusual among accounting firms. It comes from a knowledge of superannuation laws, base rate entities within a company structure, and small-business capital gains tax concessions – but ultimately, our tax prediction ability is unique among families and our unique approach.
The decision to engage Westcourt on an ongoing basis will give you control over your tax liabilities. We deliver on our single promise because we have a single focus – families in business – without a need to cross-sell an ever-increasing range of services. And coupled with our deep international connections and technical knowledge, we are well suited to help commercial families that own well run businesses become great – why not give us a call?