Deferring Your Tax Obligation: Smart Strategies for Business Start-ups
Tax deferral is a creative way of managing your business tax obligations and liabilities. It means taking deductions and recognising them in an earlier year. It also means accruing some of your business income to a later month or year. The objective is not to reduce or eliminate your tax obligations, but to get some short-term benefits for the good of your business. Managing your tax deferral properly reduces your current tax obligations, enabling you to benefit from the concept of the time value of money.