If tax rates are decreasing:
A) taxpayers should accelerate income
B) taxpayers should defer deductions
C) taxpayers should accelerate deductions
D) taxpayers should defer deductions and accelerate income
E) None of these

Question

Quizplus · Accepted Answer

When tax rates are decreasing, taxpayers should accelerate deductions to take advantage of higher current rates and defer income to be taxed at lower future rates.

If Tax Rates Are Decreasing