37432700
Description
Mind Map by Lucille Lamberson, updated more than 1 year ago
|
Created by Lucille Lamberson
almost 2 years ago
|
|
Chapter 3- Tax Planning Strategies and
Related Limitations
- Tax avoidance
- Legal act of arranging your transactions to minimize taxes paid
- Legal act of arranging your transactions to minimize taxes paid
- Tax evasion
- Willful attempt to defraud the government by not paying taxes legally owed
- Willful attempt to defraud the government by not paying taxes legally owed
- Future value = Present value x (1 + r) ^n
- Present value = Future value / (1 +r) ^n
- Tax-related timing strategies when tax rates are constant
- Accelerate tax deductions
- Deduct in an earlier period
- Deduct in an earlier period
- Defer recognizing taxable income
- Recognize in a later period
- Recognize in a later period
- Accelerate tax deductions
Want to create your own Mind Maps for free with GoConqr? Learn more.