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MINIMIZING TAXES
Judge Billings Learned Hand
(1872-1961), one of the most important federal judges of the last century,
wrote:
"Over and over again, courts have said that
there is nothing sinister in arranging one's affairs as to keep taxes as
low as possible. Everybody does so, rich and poor; and all do right, for
nobody owes any public duty to pay more than the law demands: taxes are
enforced exactions, not voluntary contributions."
Commissioner of Internal
Revenue v. Newman, 159 F.2d 848 (2d Cir. 1947) (dissenting opinion).
Moreover, Justice George
Sutherland (1862-1942) of the United States Supreme Court wrote:
"[T]he legal right of a taxpayer to decrease
the amount of... what otherwise would be his taxes, or altogether avoid them,
by means which the law permits cannot be avoided."
Gregory v. Helvering, 293
U.S. 465 (1935).
These words establish a clear
principal: Tax minimization, through legal means, is not only allowable,
it is wise and it is universal.
There is absolutely nothing
immoral, illegal, unethical or even unpatriotic about minimizing your tax
obligation.
It is a criminal act to
engage in tax evasion or tax fraud.
However, tax avoidance, the
structuring of your assets, by legal means, to pay as little as possible
to the IRS and preserve as much as possible for yourself and your family
is completely valid and legal.
Qualified counsel such as
Rubinstein & Rubinstein, LLP,
experienced and well-versed in the intricacies of the complex tax law, can
help you navigate through the tax laws and best use them to your
advantage.
We can implement effective,
tax-compliant strategies to achieve your goals: preservation of wealth for
you and your heirs.
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