What is a tax loophole and how can it reduce your tax liability?
A tax loophole usually arises from an omission, ambiguity, or exception to a certain aspect of the tax code, the set of rules that dictate how much money you are due to pay the government each year.Exploiting tax loopholes is not unlawful. However, because loopholes tend to be quirks resulting from the unintended consequences of legislation, they are not guaranteed to exist forever.
This means that loopholes can always be amended or closed, which would shut down any benefits that had previously...
This means that loopholes can always be amended or closed, which would shut down any benefits that had previously...