Different types of tax planning strategies (e.g. timing, conversion, and income-shifting strategies).These strategies can be implemented by ANY taxpayer, regardless of your age, economic status or the complexity of your income tax return.

Explain how taxes influence decisions and to employ tax planning strategies.

If you are having a conversation with a young child who is still in grade school and you are trying to explain the difference between tax avoidance and tax evasion, how can that be explained to a child?

Describe at least one tax planning strategy you will consider implementing with respect to your individual tax return soon .Explain how this chosen strategy is commonly implemented by taxpayers, and, if possible, provide an overview of how you might tailor the strategy to your specific tax situation.

Describe at least one of the judicial doctrines from Chapter 3 that could potentially limit the effectiveness of your classmate's chosen tax planning strategy.Explain the premise of the judicial doctrine and provide suggestions for how your classmate should structure their tax planning strategy to avoid the application of this judicial doctrine altogether, if applicable.

Explain how a future increase and/or decrease in tax rates might impact the effectiveness of your classmate's chosen tax planning strategy.