TAX PLANNING

The Tax Planning course explores the various methods of the U.S. tax system, its development, its applicability to individual (and corporate) taxpayers, and steps taxpayers of various income and wealth levels take to determine, meet, and minimize their tax obligations, depending on their goals. Students will learn how to identify sources, nature, and taxability of taxpayers income and gains, to determine the deductibility of any expenses they incur to reduce income, identify credits they may have to offset taxes due, understand filing and payment obligations, and apply the methods of minimizing tax - avoidance, deferral, and use of lower brackets or realization by other taxpayers.