Taxation and Financial Planning

Taxation involves the collection of money by the government from individuals and businesses to fund public services like roads, schools, and healthcare. It includes income taxes, property taxes, and sales taxes. Financial planning is the process of organizing your finances—earning, saving, investing, and managing expenses—to achieve your financial goals, such as retirement or buying a home. Effective financial planning considers tax implications, helping you minimize taxes legally and optimize your wealth over time. Together, understanding taxation and planning helps ensure your financial stability and maximizes your resources while complying with laws.