Which of the Following Is a Legal Method of Reducing

question 60

Multiple Choice

Which of the following is a legal method of reducing your current tax liability?

• A) Not reporting taxable income you receive
• B) Investing in a tax deferred annuity
• C) Shifting income to your children
• D) Writing off deductions above the actual amount(s)spent
• E) b and c

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Definitions:

Regional Links

Connections or relationships between entities, businesses, or governments within a specific geographical area for mutual benefit.

Economic Relationships

Connections between entities (such as individuals, companies, or countries) that are based on financial transactions and the exchange of goods and services.

Trans-Tasman Trade

Describes the trade relationship and economic exchanges between Australia and New Zealand, named after the Tasman Sea that separates the two countries.

Economic Agenda

A set of priorities and plans designed by a government or organization to guide economic policies and actions.