Tax planning is most common among individuals with _____ incomes.

Question

Quizplus · Accepted Answer

Tax planning is most common among individuals with high incomes as they have a greater tax burden and may have more complex financial situations that require strategic planning to minimize their tax liability. Low-income individuals may not have enough taxable income to warrant tax planning, and those with no income wouldn't have a tax liability. Those with erratic or decreasing incomes may still benefit from tax planning, but it may not be as necessary or effective as for those with stable, high incomes.

Tax Planning Is Most Common Among Individuals with _____ Incomes