Abusive tax shelters
don’t have to be enormous multi-million dollar tax schemes: they can involve
simple trust arrangements, offshore tax schemes, and the use of multiple
pass-through companies (like Limited Liability Companies (LLCs) and Limited
Liability Partnerships (LLPs)) to hide ownership of the taxable income and/or
Remember that when
something feels “too good to be true,” it probably is: you generally can’t
legally avoid taxation by creating multiple layers of companies or trusts or by
manipulating the ownership of assets.
Legitimate tax planning
is not the same as tax evasion.
Don’t get sucked into
schemes promoted by advisors who promise you that you can permanently avoid
taxation by buying their shelters and/products.