Announcement

Collapse
No announcement yet.

Tax Avoidance vs. Tax Evasion

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Tax Avoidance vs. Tax Evasion


    Att : Joe Hockey


    Tax avoidance is the legitimate minimizing of taxes, using methods approved by the IRS. Businesses avoid taxes by taking all legitimate deductions and by sheltering income from taxes by setting up employee retirement plans and other means, all legal and under the Internal Revenue Code or state tax codes.

    Tax evasion, on the other hand, is the illegal practice of not paying taxes, by not reporting income, reporting expenses not legally allowed, or by not paying taxes owed.

    Tax evasion is most commonly thought of in relation to income taxes, but tax evasion can be practiced by businesses on state sales taxes and on employment taxes. In fact, tax evasion can be practiced on all the taxes a business owes.

    http://biztaxlaw.about.com/od/busine...avoidevade.htm


    Sadly the Australian Treasurer thinks they are one and the same .
    http://thailandchatter.com/showthrea...ll=1#post45112

  • #2
    surely the nations treasurer should know the difference .

    http://www.afr.com/p/national/joe_ho...Ff5vHTU8Aj39yN
    http://thailandchatter.com/showthrea...ll=1#post45112

    Comment


    • #3
      If it is avoidance he is concerned about then he needs to be speaking to the politicians about new fiscal legislation.

      If he is concerned about evasion then maybe his own staff need better training. Believe me, this latter point is a given.

      Comment


      • #4
        Hockey is live on Oz TV now speaking about Tax reform as part of the G20 and has just stated

        Tax evasion and avoidence are a global problem
        the man has absolutely no idea .
        http://thailandchatter.com/showthrea...ll=1#post45112

        Comment


        • #5
          Politicos at every level (city state and federal) look at tax revenue as their money to spend. They find it personally insulting when someone uses a legal method of sheltering savings and income from taxes -- unless of course it's their savings or income being sheltered.

          Tax shelters are proverbially taking food out of their political mouths. Without that revenue, they have a more difficult time playing Santa Claus and more importantly getting re-elected.

          Comment

          Valentina Jewels gets pounded like a btich dog ?????? ??????? ????????? ???????? ???? diferentes tipos de bajinas
          antalya escort bayan
          Working...
          X