Please remember, what everyone is interested in is tax avoidance, not tax evasion.
Claiming aggressively, using all the deductions you can etc is great - go for it (preferably under the guidance of a tax professional). This is tax avoidance, and is the game every good accountant is playing for you. If the IRS audits you, and has a different opinion as to what you should have deducted, then you have to pay some back taxes, some interest, and you are sent on your way with a slap on the wrist. Annoying? Absolutely. Criminal? No.
HOWEVER, not reporting income, hiding money etc falls in the tax evasion category... and even minor infractions here can get you in serious trouble (fines, criminal charges and so on). So please, avoidance not evasion should be the mantra when going through the tax process.
A great book on the subject is by Sandy Botkin, and is called How To Lower Your Taxes Big Time. Hardly a light and fluffy read, but a really good one for those interested in lowering their tax burden.
No comments:
Post a Comment