Former Supreme Court Justice Louis Brandeis:
“For my tax evasion, I should be punished. For my tax avoidance, I should be commended.”
TAX AVOIDANCE SHOULD BE COMMENDED!
Former Supreme Court Justice Louis Brandeis was famous for telling the story about the difference between tax evasion and tax avoidance.
When living in Washington DC and sitting on the Supreme Court, Louis Brandeis lived outside of the city of Washington DC. As he told it, there were two ways into town, one was using a toll bridge, it was the quickest way into town, but you had to pay a fee in order to cross the bridge.
Or, if you didn't mind traveling down the road a mile or two, there was another bridge crossing into the DC area, this bridge, however, was free to cross.
And this, he said, was the difference between tax evasion and tax avoidance. If you cross the toll bridge and did not pay the tax, that was tax evasion. However, if you travel down the road a mile or two and crossed over the free bridge, that was an example of tax avoidance.
By going to the free bridge, you did not violate any laws, you simply took the road that was free thereby avoiding the toll bridge or paying a tax. He also lamented, that so few people knew there was a free bridge.
---
At Pro Advisors Group, we specialize in legal tax avoidance, or using the free bridge. In fact, we have three free bridges. For your hard to please clients, looking for more tax savings, give us a call. Our consults are free. We also provide free CPE credit seminars, offering specific training in our unique and effective tax strategies.
