tax strategy
Legal liability reduction
A tax strategy is a plan for minimizing tax liability through legal means—timing income and deductions, choosing business structures, utilizing credits, or shifting assets.
The term ranges from routine planning Our tax strategy is to max out retirement contributions to aggressive arrangements that push legal boundaries.
Financial advisors help clients develop tax strategies; critics note that sophisticated strategies mainly benefit the wealthy.
- deductionsConclusions from reasoning
- itemized deductionsSeparately listed taxable expense reductions
- tax breakReduction in owed amount
- exemptionsReleases from obligation
- tax codeLaws governing taxation
audit · tax shelters · tax credits · tax loopholes · estate planning · asset allocation · tax advisor · retirement planning · nest egg · rainy day fund · wealth management · tax filing · number crunching · capital gains · education funding · offshore accounts · withholding · taxable income
- financial planningfinancial planning, budget, financial plan, retirement plan, financial goals
- taxationtax, income tax, sales tax, tax return, tax refund
- business taxestax returns, tax filing, tax deductions, deductions, taxable income
- Financial Advisorsfinancial planner, wealth advisor, financial consultant, financial advisor, investment advisor
- corporate taxcorporate tax, corporation tax, corporate taxation, taxable income, tax liability
- inventory taxtax basis, personal property tax, FIFO, LIFO, cost basis