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Tax Planning

Tax planning is the process of organizing one's financial affairs in a way that minimizes tax liability. Tax planning may involve taking advantage of tax deductions, credits, and exemptions, as well as structuring financial transactions in a way that reduces tax liability. Continue Reading Below

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Encyclopedia Articles

Discover the definition of financial terms related to tax planning.

Uniform Gifts to Minors Act (UGMA) Accounts: Wealth Transfer and Tax Strategies Thumbnail

Uniform Gifts to Minors Act (UGMA) Accounts: Wealth Transfer and Tax Strategies

Silas Bamigbola

Profit Before Tax (PBT): Definition, Calculation, and Financial Insights Thumbnail

Profit Before Tax (PBT): Definition, Calculation, and Financial Insights

SuperMoney Team

What Is Wealth Management? Understanding the Basics and Fees Thumbnail

What Is Wealth Management? Understanding the Basics and Fees

SuperMoney Team

Estate Taxes: What Is 'Step Up In Basis' Thumbnail

Estate Taxes: What Is 'Step Up In Basis'

Audrey Henderson

IRA Recharacterization: Understanding, Examples, and FAQs Thumbnail

IRA Recharacterization: Understanding, Examples, and FAQs

SuperMoney Team

401(k) vs. 408(k) Plans: Understanding Differences, Eligibility, and Considerations Thumbnail

401(k) vs. 408(k) Plans: Understanding Differences, Eligibility, and Considerations

Alessandra Nicole

Spousal Beneficiary Rollover: Explained, Examples, and Considerations Thumbnail

Spousal Beneficiary Rollover: Explained, Examples, and Considerations

SuperMoney Team

Salary Reduction Contributions: Definition, Benefits, and FAQs Thumbnail

Salary Reduction Contributions: Definition, Benefits, and FAQs

SuperMoney Team

Transferring Wealth: Direct Transfers in Personal Finance Thumbnail

Transferring Wealth: Direct Transfers in Personal Finance

Abi Bus

Wash Sales Explained: Definition, Strategies, and Real-Life Scenarios Thumbnail

Wash Sales Explained: Definition, Strategies, and Real-Life Scenarios

SuperMoney Team

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Learn About Tax Planning

Thumbnail for Blog Article: SuperMoney’s AI Scores 99.4% on Its CFP® Knowledge Benchmark

SuperMoney’s AI Scores 99.4% on Its CFP® Knowledge Benchmark

SuperMoney Team

Thumbnail for Blog Article: ST73 Notice: What Is It and How Should You Respond?

ST73 Notice: What Is It and How Should You Respond?

Silas Bamigbola

Thumbnail for Blog Article: LT11B Notice: Avoid Asset Seizure With These Steps

LT11B Notice: Avoid Asset Seizure With These Steps

Silas Bamigbola

Thumbnail for Blog Article: How to Remove an IRS Levy: The Definitive Guide

How to Remove an IRS Levy: The Definitive Guide

Jessica Walrack

Thumbnail for Blog Article: Top IRS Red Flags That May Trigger an IRS Tax Audit

Top IRS Red Flags That May Trigger an IRS Tax Audit

TJ Porter

Thumbnail for Blog Article: 5 IRS Tax Relief Programs That Can Help You Pay Off Tax Debt

5 IRS Tax Relief Programs That Can Help You Pay Off Tax Debt

Tiffany Hsu

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About Tax Planning

Tax planning is the process of organizing one's financial affairs in a way that minimizes tax liability. Tax planning may involve taking advantage of tax deductions, credits, and exemptions, as well as structuring financial transactions in a way that reduces tax liability. Tax planning may be carried out by individuals or businesses, and may involve seeking the advice of a tax professional or expert.