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Traditional pension plans are being used by some doctors, lawyers and other wealthy small business owners to shield hundreds of thousands of dollars in income from taxes, Bloomberg’s Ben ...
When it's time to settle with Uncle Sam at the end of the year, don't overlook some IRS-approved tax shelters that might lower your tax bill. A good tax shelter is a legal way for a taxpayer to...
Here’s a breakdown of Tu’s recommendations, along with expert insights on whether her claims are accurate and — perhaps even more importantly — whether it’s ethical for small business ...
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The Internal Revenue Service and the United States Department of Justice have recently teamed up to crack down on abusive tax shelters. In 2003 the Senate's Permanent Subcommittee on Investigations held hearings about tax shelters which are entitled U.S. tax shelter industry: the role of accountants, lawyers, and financial professionals. Many ...
Michael Hamersley is a tax lawyer who, in 2003, became a corporate whistleblower against the accounting firm KPMG's tax shelter fraud.In 2006 he was a candidate for the U.S. Congress in California's 4th congressional district, obtaining third place in the Democratic party primary.
The IRS regards a tax shelter as abusive if it has no legitimate business purpose or genuine economic substance, in contrast to real loans, with money at risk, or real investments. According to Makov, although BLIPS were created on paper to look like seven-year investments, they involved neither real loans nor real investment components.
If you want to avoid taxes, look at this list of tax shelters. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us. Sign in ... Business. Elections ...
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