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Tax planning

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Tax planning can involve unbelievably complex maneuvers. Some of the strategies may be less certain than others. As a strictly opinion-type question or series of questions, consider the following.

In completing any tax planning for a corporation for which you are the CFO, to what degree would you be willing to be aggressive?

For instance, would you only want to take a reporting position that is almost certain to be upheld? Or would you be willing to really "push the envelope" and take positions that are arguably defensible but subject to very likely challenge if the Internal Revenue Service audits the return?

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Solution Summary

Tax planning can involve unbelievably complex maneuvers. Some of the strategies may be less certain than others. As a strictly opinion-type question or series of questions, consider the following.

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In completing tax planning, I will willing to be aggressive, as long as my actions does not violate any legal rulings or accounting standards, as outlined by the regulatory bodies, Sarbanes-Oxley Act, etc. Further, I will fully adhere to the ethical guidelines prescribed by the authorities and ensure that my actions would not cross the ethical limits advised by the regulatory and industry bodies. ...

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Sandeep Bardia, MBA
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  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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