It is important to have strategic planning while dealing with your taxes to get the efficient outcome. Strategic tax planning can reduce the taxes and helps you save the taxes. There are different way in which you can do tax planning based on your business and other assets.First thing is to understand how you are going to do your tax planning. If you are a business owner, then you need to analyze how you can make use of your business to reduce the tax liability. You should be aware about what is the purpose of tax planning.