Practice Quiz

Financial Planner

Category - Tax Planning

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To what other areas of financial planning does tax planning most closely apply?
  1. Education planning
  2. Risk management and insurance planning
  3. Retirement savings and income planning
  4. Estate planning
Explanation
Answer: D - Tax planning most directly affects estate planning. In that regard, the income tax consequences of estates and trusts are vitally important in order to create efficient and effective estate plans. You also must know what properties and investments are appropriate to transfer into a trust and the tax consequences of doing so.
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