What Is Total Tax Liability and What Does It Mean for Your Business?

As businesses pursue transformational changes to their operational strategies, they need to consider the tax implications of those decisions from the outset. Whether you are considering supply chain shifts, pursuing M&A, implementing ESG strategies or adjusting your workforce, you need to model the tax impacts of those business decisions. Failure to consider tax in planning could result in unintended, adverse tax impacts or missed savings. This issue is at the center of a total tax mindset. Tax professionals who understand the interplay between changing laws, economic forces and the tax implications of all types of business decisions will be well positioned to act as strategic advisors and guide companies to success.