Anyone use a home-base business for Tax Avoidance?

[WorkingMan69]

I'll just cut to the chase....
Anyone have a home-based business for the purpose of Tax Avoidance?

Ya I know... I've heard it before. That's not legal, it's not worth the effort, you'll get an IRS audit, and so on. But the truth is, it is legal if you follow all the rules the IRS expects to be followed and if your "real" intent and paper work shows you are making vialble efforts to make a profit.

Just wondering..

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[Srijana Pandey]

[QUOTE=WorkingMan69;76650]I'll just cut to the chase....
Anyone have a home-based business for the purpose of Tax Avoidance?

Ya I know... I've heard it before. That's not legal, it's not worth the effort, you'll get an IRS audit, and so on. But the truth is, it is legal if you follow all the rules the IRS expects to be followed and if your "real" intent and paper work shows you are making vialble efforts to make a profit.

Just wondering...

I do appreciate the words and the legal term that you have shared with us. Thanks for clarifying the law of the IRS on tax avoidance and aware us from the other words.

[Zwallace]

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[Brookburst]

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[amelyjcob]

Tax avoidance is a means of lowering your taxes -- legally.
Common examples of tax avoidance include contributing to a retirement account with pre-tax dollars and claiming deductions and credits.

[amelyjcob]

Tax avoidance is a means of lowering your taxes -- legally.
Common examples of tax avoidance include contributing to a retirement account with pre-tax dollars and claiming deductions and credits.

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