Minimize Your Tax Bill: Top Legal and Illegal Methods to Paying Less Taxes

Daniel Penzing
Written by
Last update:

Tax Avoidance

Tax Deferral

Tax deferral means that you don’t have to pay your taxes until later. This is done through a variety of means, including the 401(k) and IRA.

In a 401(k), you set aside money before tax deduction, and later pay taxes when you start taking the money out. The IRA is pretty similar to a 401(k) but with a few differences.

Tax Evasion

Is not a good idea in any country, country!