Question: What are the elements that define a tax planning strategy as it applies to determining if a valuation allowance is necessary? Provide an example where

What are the elements that define a tax planning strategy as it applies to determining if a valuation allowance is necessary? Provide an example where a tax planning strategy may be necessary to avoid recording a valuation allowance. What happens if your tax planning strategy does not work out? Do you think that a tax planning strategy makes good policy to adjust a valuation allowance?

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