The following are fundamental areas of tax management:

Question

Quizplus · Accepted Answer

The three fundamental areas of tax management are income splitting, marginal tax rates, and deductibles. These areas are essential to minimizing tax liability and maximizing after-tax income. Personal world income, depreciation, tax deferral, continual tax planning, legal liability, tax funding, owners' equity, and total external debt are also important in tax management, but they are not classified as fundamental areas.

The Following Are Fundamental Areas of Tax Management