tax planning

Definition

Considering the tax implications of individual or business decisions throughout the year, usually with the goal of minimizing the tax liability.

Use tax planning in a sentence

You should always try to be good at tax planning so that you know you are prepared for what ever comes your way.

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We recently met with our Certified Public Accounting to discuss tax planning strategies including the acceleration of payments and postponement of revenue recognition.

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December is the last chance for those of you who are tax planning to eliminate some of your liability through charitable donations, so dig deep for your favorite causes.

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