Personal Finance 1st Edition by Jack R. Kapoor

Exercise 6

1 How should you consider taxes in your financial planning?

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2 What types of taxes do people frequently overlook when making financial decisions?

Action Application Prepare a list of taxes that people commonly encounter in your geographic region.

Step 1 of 2

(1) Tax planning should include knowing current tax laws and regulations, maintaining complete and appropriate tax records, and making financial decisions that reduce your tax liability.