A good rule of thumb in tax planning is to recognize taxable income sooner rather than later.

Name: A good rule of thumb in tax planning is to recognize taxable income sooner rather than later.
Brand: Quizplus
Rating: 4.7 (35 reviews)

Question

Quizplus · Accepted Answer

A good rule of thumb in tax planning is to defer taxable income to a later year if possible, in order to postpone paying taxes on that income. However, there may be situations where recognizing taxable income sooner could be advantageous, depending on the individual's tax situation and goals.

A Good Rule of Thumb in Tax Planning Is to Recognize