Tax planning involves the careful use of refundable and transferrable credits to maximize refunds.

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Tax planning involves various strategies to minimize tax liability and maximize refunds. One such strategy is the careful use of refundable and transferrable credits, which can help taxpayers get the maximum refunds possible. Refundable credits are those that can result in a refund even if the amount exceeds the taxpayer's tax liability, whereas transferrable credits can be transferred to another party to reduce their tax liability. By utilizing these credits strategically, taxpayers can optimize their tax planning and get the best possible outcome.

Tax Planning Involves the Careful Use of Refundable and Transferrable