Question

While most of us have to file taxes, we should also use our knowledge of tax...

While most of us have to file taxes, we should also use our knowledge of tax law to guide us in our financial decision making.

a) True
b) False

Business   Accounting   
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Answer #1

ANSWER   

TRUE

KNOWLEDGE OF TA LAWS WILL ALSO HELP US IN FINANCIAL DECISION MAKING. ONE OF THE EAMPLE IS CAPITAL UDGETING DECISION WHICH INVOLVE IDENTIFYING DIFFERENT INVESTMENT ALTERNATIVES AND CHOOSING ONE ALTERNATIVE WHICH IS MOST PROFITALE FOR THE COMPANY, SO THERE COMES THE ROLE OF TAX PLANNING AS TO WHICH ALTERNATIVE GIVE THE COMPANY MOST TAX ADVANTAGE.

THUS KNOWLEDGE OF TAX LAWS HELPS NOT ONLY IN FILING RETURNS BUT ALSO IN FINANCIAL DECISION MAKING.

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