Tax

New York residents may not know that tax avoidance is legal and tax evasion is illegal. Whether you pay taxes as an individual or a business owner, the Internal Revenue Code permits you to avoid paying some taxes by following specific practices. For instance, the tax code allows companies deductions to mitigate the cost of operating a business. You as an individual are also permitted to set up 401(k) plans for employees so that you can delay paying taxes until a future date. Tax avoidance loopholes exist to help lower your taxes Although IRS rules are complex and easily misinterpreted, it is...