Tax planning

(redirected from Tax Plan)

Tax planning

Devising strategies throughout the year in order to minimize tax liability, for example, by choosing a tax filing status that is most beneficial to the taxpayer.

Tax Planning

The practice of making adjustments so as to reduce one's tax liability to the least possible amount. For example, one may wait to sell a security until the next tax year so as not to realize capital gains.
References in periodicals archive ?
For a detailed explanation of how the Romney-Ryan tax plan is able to cut taxes by $5 trillion without raising taxes on the middle class or exploding the deficit," the website reads.
Yet others have taken the second step to become certified as Qualified Empire Zone Enterprises (QEZEs) but have either failed to take advantage of the full complement of benefits or have pursued benefits which are incongruous with their overall tax plan.
But his tax plan threatens the long-term health of the economy.
ALTHOUGH Democrats have denounced President Bush's tax plan and Republicans have praised it, the two sides are much closer to agreement than either lets on.
Given these parameters, the Panel developed two options: A Simplified Income Tax Plan and a Growth and Investment Tax Plan.
The panel is recommending two alternatives: the Simplified Income Tax Plan (SIT) and the Growth and Investment Tax Plan (GIT).
6 billion*, consider adopting a year-round tax plan advocated by H&R Block.
Her attempt to link a $50,000 donation received by the charter reform effort from Bert Boeckmann, owner of Galpin Motors, to a supposed 17 percent tax break under the mayor's business tax plan was inexcusable and was political rhetoric at its worst.
Find out what you need to know to assure them that you have their concerns at the center of their tax plan.
If you added that the sales tax plan would be at a 23 percent rate - because it would replace all federal taxes including the payroll taxes - you might expect a louder reaction.
For purposes of this Interpretation, tax planning includes, both with respect to prospective and completed transactions, recommending or expressing an opinion (whether written or oral) on (a) a tax return position or (b) a specific tax plan developed by the member, the taxpayer, or a third party.
As such, you must ensure that the client thoroughly understands the tax plan and related consequences.