tax planning

Popular Terms
Exercise undertaken to minimize tax liability through the best use of all available allowances, deductions, exclusions, exemptions, etc., to reduce income and/or capital gains.

Use 'tax planning' in a Sentence

We had to do some tax planning so we would be ready for tax season and not mess anything up this time.
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The company's routine charitable donations were a part of the tax planning as the donations would count as a deduction on their taxes at the end of the year.
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The new accountancy firm guaranteed they could significantly ease the corporation's tax burden through smart tax planning by applying some foresight.
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