The primary purpose of effective tax planning is to reduce or defer the tax in the current tax year.

Question

Quizplus · Accepted Answer

The primary purpose of effective tax planning is not only to reduce or defer the tax in the current tax year, but also to manage tax obligations effectively in the long-term. Effective tax planning involves strategic planning to minimize tax liability while ensuring compliance with tax laws and regulations.

The Primary Purpose of Effective Tax Planning Is to Reduce