Tax Planning for Veterinary Businesses

Veterinary businesses run on tight margins. With the current employment market, there is intense pressure to increase compensation and benefits to retain employees, inflation is driving up costs, and clients are less than understanding about increases in fees. With many forecasting an impending recession, the time is ripe for examining your business and looking for strategies to save costs, and that includes taxes.
We will discuss basic principles of tax planning, identify the five types of tax planning strategies for businesses, and outline some practical tax-saving strategies that veterinary businesses can use to drive down tax costs and increase profits.