Tax planning is the process of organizing your financial affairs in a way that helps you minimize the amount of taxes you owe legally. It involves making strategic decisions about your income, investments, expenses, and other financial activities to optimize your tax liability. The goal of tax planning is to ensure that you are compliant with tax laws while taking advantage of available deductions, credits, and incentives to reduce your overall tax burden.

Seeking advice from a qualified tax professional or financial advisor can be beneficial in developing a tax planning strategy that aligns with your financial goals while remaining compliant with tax regulations.