Quote:
Originally Posted by preciousjeni
True, but then again we tax our business within an inch of their lives. It's not surprising that they would seek loopholes or opt out of paying when possible.
I'm afraid I have people like this in my family. They will take tax avoidance to the legal limit and then move into tax evasion if necessary. When you're talking about millions of dollars, it's worth keeping the money a little extra longer to make even more money on it. The penalties (if you have to pay) don't outweigh the benefits.
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See, I have no problem with people finding "loopholes." If there are loopholes in the tax code, which there are, more power to the people who can take advantage of them.
I'm no expert on the subject; I've only taken one federal income tax class in law school (albeit with a guy who's a world-renowned expert on taxation), but my view is that I'm willing to cut more slack to the less sophisticated tax payer, or the individual with less income. People with more income can afford to hire more intelligent accountants, and don't really have an excuse for using sketchy tax people or pleading ignorance.
That said; the tax code is a HUGE and complicated piece of information, which is probably part of the problem.
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