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.