Research on individual tax planning

Danielle Winchester and P. Jeffrey Christakos

Chapter 15 in Research Handbook on Personal Finance, 2026, pp 265-280 from Edward Elgar Publishing

Abstract: Tax planning is an essential component of personal finance, enabling individuals and households to strategically manage their tax liabilities, optimize deductions and credits, and enhance long-term wealth accumulation. Despite its importance, individual tax planning is often overlooked due to its complexity and the rapid evolution of tax laws. This chapter examines traditional strategies for minimizing taxation as well as recent key legislative reforms, including, in the US, the Tax Cuts and Jobs Act (TCJA) of 2017 and temporary COVID-19 relief policies, and explores their implications for individual tax planning, economic behavior, and household financial stability. Global tax structures, technological advancements in tax compliance, and the growing role of artificial intelligence (AI) in tax administration and planning are discussed. By analyzing these topics through empirical research, this chapter provides insights into how tax policy influences financial decision-making, income distribution, and economic resilience.

Keywords: Fiinancial fairness; Tax credits; Tax efficiency; Tax history; Global tax considerations; Artificial intelligence in taxation (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035323005
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