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tax avoidance


Meanings
  • Noun

    The deliberate reduction or elimination of a tax liability through legal means.

    - "Tax avoidance strategies often involve taking advantage of tax loopholes and deductions."
    - "Large corporations are known for their complex tax structures designed for tax avoidance."

Rhymes
Words rhyming with tax avoidance
evasion , rave-enhancement , nauseation
Variants
List of all variants of tax avoidance that leads to same result
avoidance , avoidances
Etymology
origin and the way in which meanings have changed throughout history.

The term 'tax avoidance' emerged in the late 19th century as tax laws became more complex.


Trivia
Any details, considerations, events or pieces of information regarding the word
  1. The term 'tax avoidance' was first used in a U.S. Supreme Court case in 1895.

  2. The IRS estimates that taxpayers underreport their income by approximately $450 billion each year through various tax avoidance strategies.


Related Concepts
informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to
  1. Tax evasion: Illegal practice of not reporting income or underreporting income to reduce tax liability.

  2. Tax planning: Legal practice of arranging financial affairs to minimize tax liability.


Culture
Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Tax avoidance has been a topic of controversy and debate in literature and politics, with some arguing it is unethical or even illegal.

How to Memorize "tax avoidance"

  1. visualize

    - Imagine a large corporation with numerous subsidiaries and complex financial structures designed to minimize their tax liability.

  2. associate

    - Associate tax avoidance with the image of a tax accountant or financial advisor helping clients minimize their tax liability.

  3. mnemonics

    - Use the acronym TAX to remember Taxes Are Expensive.


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