Tax Evasion vs Tax Avoidance vs Tax Planning

Understanding the difference between tax evasion, tax avoidance and tax planning is critical to implementing a legally permissible tax minimization strategy to optimize your profits and returns. While tax evasion is clearly illegal, it is the grey areas that exist between tax avoidance and tax planning where the true challenge exists, and where knowledgeable legal counsel can play a significant role in defending one's position against an adverse ruling from the tax authorities and the penalization that can result therefrom.
The information presented in this video is not tax or legal advice. We provide it for informational purposes only, so you may wish to check with your own tax and/or legal representatives. Tax and legal matters are highly fact specific, such that it is extremely important that any advice that you receive is specifically attuned to those facts and how the law might be specifically impact those distinct set of facts and what results you are striving to achieve from the particular transaction that you are seeking to implement.

** PLEASE NOTE: This is attorney advertising that is provide solely for informational purposes. The video only addresses very general aspects, without delving into specifics, which are absolutely critical to any legal analysis and approach. As such, it is ALWAYS recommended to engage the services of a knowledgeable lawyer to address the specifics of your particular situation, as this will dictate how you should approach any business or legal matter.
Your receipt of such information does not create a solicitor-client relationship with Neufeld Legal PC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. Prior results referred to in these materials do not guarantee or suggest a similar result in other matters.