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Glossary of Accounting Terms Result for Tax planning | Simkover and Associates

Tax planning- The planning process attempts to lower taxes by claiming all available tax deductions, deferring the receipt of income to future time periods, optimizing investment income by taking into account the after-tax rates of return, and dividing income between spouses. The process should also have a long-term approach by providing for an adequate stream of retirement income and preserving assets for designated beneficiaries.

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