Tax planning


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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 ?
VAT is a consumption tax which is to be borne by end consumer, and businesses are using various tools of tax planning for effective management of its cash flows.
Many CPAs have "stock" letters or other year-end tax planning materials that they send to clients toward the end of the year.
Tax administrations should have the information they need to thwart aggressive tax planning schemes.
If tax planning becomes more cautious the inspectors have to find something to do.
"Proactive tax planning is the key to keeping more of what you make," Mr.
Before analyzing the value creation potential of tax planning, consider first which types of tax planning strategies tax departments have available to reduce their firm's tax expense.
In Part IV we elaborate upon the second normative corollary of our article, concerning the use of governmentally-created market failures to combat tax planning activities.
Sales pitches also are used by promoters of estate planning services, such as living trust seminars, or the ever-growing number of firms and advisers that are pitching a particular estate or other tax planning techniques, such as the private annuity trust, which is a hot trend.
So estate tax planning is still the prudent thing to do."
BNA International (BNAI; London) has begun the production of Tax Planning International Country Portfolios, a new online subscription service that offers profiles of 37 tax regimes, including a new overview of the U.S.
Fourth quarter 2004 is upon us, and that means it's time for accountants to turn their attention to tax planning. Although the conscientious tax accountant talks with his or her clients throughout the year, most only start the formal process of meeting with clients' and making year-end adjustments during the final three months of the year.
The Bureau of National Affairs (BNA; Washington, D.C.) is now producing two new information services including Corporate Counsel Library and Tax Planning International Review & Forum.