Definitions
American Heritage® Dictionary of the English Language, Fourth Edition
- n. A financial arrangement, such as the use of special depletion allowances, that reduces taxes on current earnings.
Wiktionary
WordNet 3.0
- n. a way of organizing business to reduce the taxes it must pay on current earnings
Examples
“Single-premium life insurance is a second-class tax shelter because you must buy whole life insurance before you can make the investment.”
“Then, in 1954, Congress changed the tax code to make it more profitable for developers to create shopping malls, basically making a tax shelter out of shopping mall construction.89 As Stacy Mitchell writes in Big-Box Swindle, 6 million square feet of shopping centers were constructed in 1953; just three years later that figure had increased by 500 percent; and over the next twenty years, eighteen thousand shopping centers were built across the United States.90 And the owners of these shopping centers often preferred to make chain stores their tenants considered a better bet for a landlord, some actually going so far as to bar independently owned stores.91”
“I could show them marvelous ways of obtaining a badly needed tax shelter and much higher rates of return in well-selected investment real estate, without having to invest a lot of cash.”
“My partner at the time, Howard Zuker, raised $1 million through dentists and doctors investing $25,000 to $50,000 apiece, each of whom could write off seven or eight times that amount under the tax shelter laws then in place.”
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