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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.

Recognized Loss: Tax Implications, Strategies, and FAQs Thumbnail

Recognized Loss: Tax Implications, Strategies, and FAQs

Abi Bus

IRS Publication 225 Explained: Definition, Effects, and Strategies Thumbnail

IRS Publication 225 Explained: Definition, Effects, and Strategies

SuperMoney Team

Understanding IRS Publication 939: Taxation of Pensions and Annuities Thumbnail

Understanding IRS Publication 939: Taxation of Pensions and Annuities

Alessandra Nicole

IRS Publication 517: Tax Insights for Religious Workers Thumbnail

IRS Publication 517: Tax Insights for Religious Workers

SuperMoney Team

Annual Exclusion: What It Is, How It Works, and Examples Thumbnail

Annual Exclusion: What It Is, How It Works, and Examples

SuperMoney Team

Maximize Your Tax Savings with Alternative Depreciation System Thumbnail

Maximize Your Tax Savings with Alternative Depreciation System

Rasana Panibe

Asset Depreciation Range (ADR): Definition, Transition, and Examples Thumbnail

Asset Depreciation Range (ADR): Definition, Transition, and Examples

Silas Bamigbola

American Taxpayer Relief Act (ATRA): Definition, Impact, and Analysis Thumbnail

American Taxpayer Relief Act (ATRA): Definition, Impact, and Analysis

SuperMoney Team

Capital Allowance: Definition, Benefits, and Examples Thumbnail

Capital Allowance: Definition, Benefits, and Examples

SuperMoney Team

Comprehensive Tax Allocation: Definition, Application, and Benefits Thumbnail

Comprehensive Tax Allocation: Definition, Application, and Benefits

Abi Bus

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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.