tax shelters

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• Tax shelter — Tax shelters are any method of reducing taxable income resulting in a reduction of the payments to tax collecting entities, including state and federal governments. The methodology can vary depending on local and international tax laws.In North… …   Wikipedia

• Tax avoidance and tax evasion — Tax avoidance is the legal utilization of the tax regime to one s own advantage, in order to reduce the amount of tax that is payable by means that are within the law. By contrast tax evasion is the general term for efforts to not pay taxes by… …   Wikipedia

• tax shelter — n: an entity (as a partnership) or investment plan or arrangement whose principal purpose is the avoidance or evasion of income tax; also: an interest offered or purchased on the premise that it will provide favorable tax consequences purchased… …   Law dictionary

• tax-sheltered — tax shelter ˈtax ˌshelter noun [countable] TAX ACCOUNTING a plan or arrangement that allows you to legally avoid paying tax: • Many investors used annuities as a tax shelter rather than as a retirement savings program. tax sheltered adjective …   Financial and business terms

• tax shelter — tax shelters N COUNT A tax shelter is a way of arranging the finances of a business or a person so that they have to pay less tax. The consultancy offers advice on ethical tax shelters …   English dictionary

• Tax Reform Act of 1986 — The U.S. Congress passed the Tax Reform Act (TRA) of 1986, (USStatute|99|514|100|2085|1986|10|22) to simplify the income tax code, broaden the tax base and eliminate many tax shelters and other preferences. Although often referred to as the… …   Wikipedia

• tax shelter — Legal methods taxpayers can use to reduce tax liabilities . An example is the use of depreciation of assets. Bloomberg Financial Dictionary * * * tax shelter ˈtax ˌshelter noun [countable] TAX ACCOUNTING a plan or arrangement that allows you to… …   Financial and business terms

• tax shelter — A device used by a taxpayer to reduce or defer payment of taxes. Common forms of tax shelters include: limited partnership interests, real estate investments which have deductions such as depreciation, interest, taxes, etc. The Tax Reform Act of… …   Black's law dictionary

• Tax Shelter — A legal method of minimizing or decreasing an investor s taxable income and, therefore, his or her tax liability. Tax shelters can range from investments or investment accounts that provide favorable tax treatment, to activities or transactions… …   Investment dictionary

• tax evasion — Illegal by reducing tax burden by underreporting income, overstating deductions, or using illegal tax shelters . Bloomberg Financial Dictionary An attempt to minimise the tax payable by illegal means, e.g., by reporting inaccurately. Financial… …   Financial and business terms

• tax avoidance — Minimizing tax burden through legal means such as tax free municipal bonds, tax shelters , IRA accounts, and trusts. Compare with tax evasion. Bloomberg Financial Dictionary An attempt to minimise the tax payable by legal means. Financial… …   Financial and business terms