Tax planning

(redirected from Tax Plans)

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 ?
Also, the American Taxpayer Relief Act is known more for preventing the increase of taxes rather than cutting down on existing tax plans.
After the GOP tax plan passed in the senate on Tuesday, President Donald Trump tweeted out calling it the "biggest in history Tax Cuts and Reform Bill.
The draft text of the "Monterrey Consensus," the main document to be presented at the conference, barely gives a hint of the tax plans the UN globocrats have in mind.
The focus will shift from compliance with the tax law to writing tax plans for clients.
The ability to store, search and retrieve pro forma tax plans will increase the tax accountant's ability to cope with the ever-increasing complexity of business and family plans.
Companies shouldn't fall into the trap of letting management reporting procedures, local incentive standards, or local management egos get in the way of implementing key global strategic tax plans.
To incorporate global tax planning into your overall strategic plan, you must first determine the goals of the global tax plan.
But many flat tax plans also exempt interest, dividends and capital gains from taxation, and these are big source of income for the wealthy.