When it comes to reducing business taxes, you have to be well prepared in advanced. The more informed you are about the laws applicable in this regard, the more you will be able to save on taxes. Minimizing taxes is all about maximizing your profit. Therefore, it is worth spending some quality time for this purpose. You may have to do some in-depth research to find out what kind of tax deductions you can use and what kind of basic preparations you need to do to utilize the same. You will have to establish a workable tax reduction strategy by performing a detailed tax planning analysis. Here’s a brief rundown on how to do that.