| Tax Audit, Tax Anticipation Note (TAN) | |
| Tax Base, Tax Basis |
Dictionary of Finance and Investment Terms. Copyright © 2010 by Barron's Educational Series, Inc. All rights reserved.
Finance (1 of 2 sources)
strategy to pay the least amount of tax possible through legal means. For example, taxpayers may buy tax-free municipal bonds; shelter gains inside tax-deferred ira, keogh accounts, salary reduction plans or tax free roth ira accounts; shift assets to children who need not pay taxes on part of their income; make legitimate charitable contributions to generate tax deductions; and establish trusts to avoid estate taxes. Illegal strategies to avoid paying taxes are called Tax Evasion.
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