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what are the direct differences for partneship estate planning compare to corporate planning to reduce tax...

what are the direct differences for partneship estate planning compare to corporate planning to reduce tax liability?

What assets do we protect in a corporation versus a pertneship?

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Answer #1

Estate planning is a very important process in maintaining and efficiently transferring the wealth you've accumulated throughout your life. A large part of that process involves finding ways to transfer your assets to the next generation in the most tax-efficient manner possible.

Tax planning, in general terms, refers to the process of organizing and taking care of financial matters with an aim to minimise the taxes. There are three processes involved in general tax planning, and this includes reducing income, utilizing tax credits, and increasing deductions on finances.

Assets protect in corporation are personal debts and in partnership business debts.

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