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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction -- Ignore unavailable to you. Want to Upgrade?

To: Solon who wrote (53608)11/17/2006 4:19:47 PM
From: Alan Smithee  Read Replies (3) | Respond to of 90947
 
The difference is don't get caught.

That's not true.

Tax avoidance is the term used for taking steps to ensure that you avoid paying unnecessary taxes through making use of all legal means.

If a deduction is allowed and you take it, that's avoidance.

If a deduction is not allowed, and you nevertheless take it, that's evasion.

Big difference.



To: Solon who wrote (53608)11/17/2006 5:52:41 PM
From: Peter Dierks  Read Replies (1) | Respond to of 90947
 
"A wise man once asked me if I knew the difference between tax evasion and tax avoidance"

The difference is don't get caught.

Perhaps this applies in Canada, in the US it is not. <g>

Avoiding paying tax by rearranging my affairs in a legal way is called tax avoidance. Rearranging my affairs in an illegal way to evade taxes can result in jail time, and it should.


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