How to Avoid Taxes Without Evading Them - Bad Strategies To Avoid Taxes And How To Detect Them
In this country there is the voluntary declaration of taxes. That is, the taxpayer is responsible for filing his annual tax return after the end of the year.
The government expects you to be honest on your tax returns, but they also have sophisticated ways to detect fraud. There are also very generous tax laws that allow you to avoid taxes legally.
These laws exist for a reason, mainly to stimulate business and simulate the country economy.
But one thing is to "avoid" taxes and another is to "evade" them. Allowing you to avoid taxes legally in return for doing something is a goal of the law. If you make a mistake, you may be subject to high monetary penalties and interest, as that is a civil matter. But if you "evade" taxes, you are facing criminal charges for fraud. After paying high fines, surcharges and interests, you may be facing a prison sentence.
There is an anti-tax movement that exists through the net, in books, videos and even seminars that preaches the belief that there is a fundamental right to evade taxes. Because no one likes to pay more taxes than absolutely necessary, many people are naturally attracted to charlatans who try to sell these ideas and beliefs without any legal basis.
With tax law in the United States as complicated as it is, how do you know the difference between a legitimate tax reduction strategy and an unfounded idea that will get you in trouble? The main problem with the anti-tax protesters' arguments are that they preach the idea that you can ignore the simple language of the law by saying that the IRS is not legitimate or that you are not subject to its jurisdiction or the rules.
But legal tax strategies work within the law. They center on finding deductions or ways to reduce your income that the tax code or the IRS have explicitly approved, rather than avoiding the law or ignoring it.
When you read about a tax strategy being paddled by someone, make sure that it focuses on how to keep your proof and records in order and that it cites the tax law, regulations or IRS guidance on which it is based.
There are some bad ideas and strategies floating around, including the arguments of anti-tax protesters who claim that you do not have to pay any taxes at all. But you can protect yourself by understanding what kinds of tax reduction strategies are legitimate and which are not.
The arguments of the anti-tax protesters have attracted and even trapped some very bright and successful entrepreneurs. But inevitably, ignoring the law or not employing a professional to follow it for you will cost you.
The government considers these arguments fraudulent and if employed, they will come down on you you like a hammer. When looking for tax strategies, be sure to find the ones that explain the types of deductions that the law allows, the documentation you need to back up your claims, and cite authorities like the tax code, regulations or other IRS guidance.
There are countless legal forms that are employed and professionals willing to help you reduce your tax burden legally. You will not always be able to reduce your tax bill to "zero", although that is possible, but if you do things legally, you will save money within the limits of the law, which will keep you and your wallet safe.
Lawyer's Advice:
• Always go to a tax professional to handle your accounting and prepare your tax return
• Keep receipts of all your expenses during the year
• Prepare a plan with your professional to legally deduct your expenses
• Do not listen to stories by internet radicals or charlatan authors. Always consult any plan with a licensed attorney or tax professional
And just in case ...
• Never try to "evade" taxes, the government is your partner and if you play by the rules you can earn money without the risk of losing everything. "Evadeing" is different from legally "avoiding"
• Never go to a tax audit alone, send your accountant or lawyer to attend for you
• If government agents start asking you questions, tell them that you first want to consult with your lawyer, you have that right
• Have a criminal defense attorney's number on speed dial
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