Discussion Question $1-38($LO$.9)$

Select either "Yes" or $"$No$"$ for each of the following to indicate whether it is a key component of effective tax planning.

a$.$ Avoid the recognition of income.

b$.$ Defer recognition of income.

c$.$ Convert the classification of income.

d$.$ Choose the business entity with the desired tax attributes.

e$.$ Defer recognition of expenses.