Economic times had been good for so long, it was hard to foresee a downturn. Now that it’s arrived faster and deeper than expected, the ability for some businesses to survive will partly depend on how they can leverage tax strategies to raise or at least preserve cash.
Ideally, companies take a proactive approach during good times, testing their tax situation against an imaginary downturn and taking steps to minimize any potential future financial pain.
But even businesses that were less prepared still have options to reduce their tax burden, especially now that they have greater visibility into their operations for 2020 and any future disruption.
