Tax Planning Strategies and Audits

timer Asked: Feb 3rd, 2019
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Question Description

Please follow these guidelines

You are to write the research paper in accordance with APA standards and cite a minimum of five (5) scholarly peer reviewed sources and three (3) entire scripture verses.

Your paper submission should follow the below stated composition and formatting guidelines; and be composed unto a “Word Document.”

  • Title page with a “Running head:” page number (top right), your name, course, date, and an appropriate title.
  • Use double space, Times New Roman, and 12pt font.
  • Provide a short introduction stating your position and argument.
  • Support your position unto the body of the paper depicting Parts I, II & III
  • When all is done, give a brief conclusion.
  • Upon citing works, add a separate reference page.

These APA additions are NOT a part of the word count that should approximate 1500 words (approximately 350 words for Part I; 400 words for Part II and 750 words for the three subparts of Part III).

Deliverables = Post narrative responses to your paper designating Parts I, II & III with sub-parts A & B.

Compose a paper from a biblical worldview perspective that flows from the following financial concepts:


Part I. Discuss the three basic tax planning strategies.What different features of taxation does each of these strategies exploit?

Part II. Describe the differences between the three types of audits in terms of their scope and taxpayer type.

Part III. Blaise Pascal (1623–62) was a French philosopher, evangelist and mathematician, who is considered by many the father of probability theory. In order to sow the seed (Matthew 13) into the minds (Holy Spirit will convict) of a group of notorious alcoholic gamblers residing in his township; Blaise Pascal developed a polemic for the belief in Jesus Christ as one’s Lord and Savior that became known as “Pascal’s Wager.”

The Wager is directed to unbelieving skeptics, who say there is no God, Jesus Christ or they do not know Jesus, the great I am. The Wager explains to the non-believing gamblers that they have gambled incorrectly in that they have everything to lose, and nothing to gain from their unbelief.

Conversely, if they believe in Jesus Christ as their Lord and Savior, they may have the advantage of living a better life (following God’s Word) and when this pilgrimage is over; they will have an eternity in Paradise with God rather than an eternity in hell. A Win.

If the skeptic is correct and God does not exist, than the skeptic has still lived a better life by following the Words of God. A Win.

Therefore, by following Jesus Christ as your Lord and Savior; it is a Win Win.

Respond to the following Part III deliverables:

  • If a drunken gambler agrees to accept Pascal’s wager; would it be binding unto God? Why or why not. Explain.
  • Outline in detail your witness polemic on how you would witness to a drunken gambler, an unbelieving skeptic; who says there is no God, Jesus Christ or does not know Jesus, the great I am? Focus more on your polemic than on the shortcomings (real or imagined) of Pascal’s Wager. Emphasis is on winning souls = "Business as Missions."

“The fruit of the righteous is a tree of life; and he that winneth souls is wise” (Prov. 11:30, KJV).

Tutor Answer

School: UIUC

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Tax Planning Strategies and Audits




Tax Planning Strategies and Audits
Tax planning refers to the examination of the financial situation and planning from the
perspective of tax. It takes care of the approaches that will be used in collecting the tax as well
as how that will be utilized. Tax efficiency is one of the most critical elements of the wellbeing
of an economy (Barth & de Beer, 2018). The planning is aimed to achieve just that. The elements
of all financial plans made by a country collaborate better when there are elaborate plans on tax.
They interact to realize the best tax efficiency. Regarding the financial plans, it is the essential
part. In this way, the administration will reduce the liability of tax as well as maximize the
capacity to contribute to the functionality of the pension system. The following are the details of
the three fundamental tax planning strategies. All governments are after achieving tax efficiency
since it is the only way they will provide top-notch services to their citizens. This statement is
corroborated by Nehemiah 10:32 in which the author says that taxes are important for the service
of the house of God.
Part One: Basic tax planning strategies
The three types of tax planning are:
(a) The timing strategy. This approach is centered on exploiting the variations in tax across
time. For instance, this can be the “real” tax costs regarding the decrease in income
when the taxation is deferred. This is a very strategic approach to planning on tax.
There are variations on the way some which may have been predicted or not. However,
with this strategy, the variations are well taken care of. For instance, there are instances
deferring tax may result in taxation may lead to real tax costs going down.

(b) The “real” tax savings. This strategy is associated with reductions in tax increases when
the deductions in tax are accelerated. Here the strategy of shifting income makes the
most of the variations regarding taxation in all taxpayers.
(c) The conversion strategy. This approach exploits the variations in tax that touch all
activities. This means that the government can make the most of all opportunities
regarding all taxable activities. This level of flexibility is important in the sense that it
helps in addressing every possible probability regarding tax fluctuations.
Part Two: Differences between the three types of audi...

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