Tax Evasion Vs․ Tax Avoidance: Which One is Legal and How Can You Take Advantage of it?

Would you rather

So, anyways,

Tax evasion is illegal. Tax avoidance is legal.

Don’t commit tax evasion.

Or you will be thrown into prison by the government. Or the IRS.

You don’t want the IRS coming after you, do you?

So, to take advantage of legal loopholes to do tax avoidance, just collect the child tax credit.

Or, if you are rich, buy stocks, bonds, expensive art, etc. You won’t owe income tax on the growth of the assets’ value unless they are sold, in which case you can make a decent profit.

But don’t do tax evasion.

Don’t be like Ehab.

Pay your taxes.