Tax avoidance

Five Ways to Avoid Taxes-Not Evade-Taxes

When it comes to lowering your tax bill, it is crucial to make sure you are avoiding taxes and not evading them. Here’s the difference: Tax avoidance is the use of governmentally-sanctioned legal methods to minimize, defer or eliminate your tax liability. Tax evasion is when illegal means are used to not pay your taxes. Evasion can include not reporting …