Planning and time buckets profile are one and the same. Dont think there is a difference there. It is just a representation of how you want to see time in terms of granularity of detail. Say it is monthly time buckets for next 6 months, quarterly for the next and yearly after that. So this is a telescopic view of time - farther you go the less detail you want to see. This profile is useful for display of data in DP and SNP.
Storage bucket profile is the granularity with which you want to save data in the planning area. So as an example you may want to save data in monthly and weekly time buckets as you may want to do forecasting at monthly level but want to track sales at a weekly level.
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