Write 200–250 words that respond to the following questions with your thoughts, ideas, and comments. Be substantive and clear, and use examples to reinforce your ideas. Understanding tax concepts, po

Write 200–250 words that respond to the following questions with your thoughts, ideas, and comments. Be substantive and clear, and use examples to reinforce your ideas. 

Understanding tax concepts, policies, and effective tax planning strategies is essential for individuals. Explore the rationale behind two of the tax concepts, policies, or planning strategies listed below, and share insights.

Using what you have learned, choose 2 topics from the following list to discuss and provide examples: 

• Compare taxable income versus gross income
• Contrast tax deductions, credits, and exemptions
• Explain the goals and objectives behind specific tax policies (e.g., promoting homeownership, stimulating economic growth).
• Describe how tax policies influence behavior and decision making.
• Compare effective tax planning strategies for individuals.
• Identify methods to minimize tax liability legally and ethically.