Business / Real Estate / Tax Shelter: A phrase often used to describe some of the tax advantages of real estate or other investments, such as noncash deductions for cost recovery (depreciation), interest, taxes and postponement or even elimination of certain taxes. The tax shelter not only may offset the investors tax liability relevant to the real estate investment but also may reduce the investors other ordinary income, which reduces overall tax liability.
Shelter Noun Synonyms: protection, cover, refuge, asylum, sanctuary, haven, safety, security
Shelter Verb Synonyms: cover, covering, concealment, screen, umbrella
Tax Noun Synonyms: assess, exact, demand, charge, impose or levy a tax (on), tithe
Tax Adjective Synonyms: levy, impost, duty, tariff, assessment, tribute, toll, excise, customs, charge, contribution, scot, tithe, octroi, cess, rate(s), dues
Business / Finance / Tax Free Acquisition: Illegal by reducing tax burden by underreporting income, overstating deductions, or using illegal tax shelters. MORE
Business / Finance / Tax Base: Minimizing tax burden through legal means such as tax-free municipal bonds, tax shelters, IRA accounts, and trusts. Compare with tax evasion. MORE