AN ASSESSMENT OF TAX PLANNING STRATEGIES FOR PUBLIC ACCOUNTING CLIENTS
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AN ASSESSMENT OF TAX PLANNING STRATEGIES FOR PUBLIC ACCOUNTING CLIENTS
The objectives of this study are to: 1) Evaluate the effectiveness of current tax planning strategies employed by public accountants, 2) Identify the benefits and challenges associated with these strategies, and 3) Propose improvements to optimize tax planning for clients. The research design is a survey, chosen for its ability to gather comprehensive quantitative data from a broad audience. The sample size, determined using Taro Yamane’s formula, is 330, ensuring a 95% confidence level and a 5% margin of error. Lagos is selected as the case study location due to its diverse business environment and the presence of numerous accounting firms. The reliability coefficient score for the survey is 0.87, indicating high reliability. Findings reveal that effective tax planning strategies significantly reduce clients' tax liabilities and enhance financial planning. However, challenges such as complex tax regulations and frequent legislative changes persist. The study recommends that public accountants stay updated with tax laws, invest in advanced tax software, and provide continuous education to clients about tax planning benefits and strategies.
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