Which of the following statements best describes the process of tax planning?

a.	Tax planning is equivalent to tax evasion.
b.	Tax planning is the avoidance of tax traps.
c.	Tax planning is the process of arranging ones financial affairs to minimize ones overall tax liability.
d.	Tax planning is the deferral of tax on income.
e.	Tax planning is the calculation of a taxpayers marginal rate of tax.