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I have a problem with calling explicit exemptions, call outs, and other things as "loop holes" as if they were no intended to be used to avoid taxation. This
by phpisthebest 3y ago
I have a problem with calling explicit exemptions, call outs, and other things as "loop holes" as if they were no intended to be used to avoid taxation.
This is simply incorrect, organizations, people, and groups all lobby the government to include their pet line item as an exemption, deduction, or credit.
These are not "loop holes" and a CPA or tax lawyer having the knowledge to fully utilize all of them is not " legally avoid paying taxes" as those taxes where not owed in the first place.
In order to get to the point where paying the correct amount of taxes you owe by law is "using loophole to avoid taxes" one has to assume 100% of all income is belongs to the government and we are just figuring out how much the government is going to allow us to keep. I reject that
- amarshall 3y agoLoopholes exploit ambiguity or complexity in rules in ways that betray the authors’ intent. Following this definition, there’s no need to conclude that “100% of all income belongs to the government”.