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There is nothing wrong with reducing your taxes. Taxes can be reduced without fear of violating any tax laws or the risk of an audit, providing that you doing everything according to tax laws, and you maintain the proper records. Your taxes can be reduced by taking advantage of deductions and credits available to the tax codes. Deductions allowed by the IRS are subtracted from your adjusted gross income. Credits reduce the amount of taxes you owe. Generally a credit is better than a deduction. Consider discussing with your financial consultant or tax preparer some of the following tax-savings techniques:

 Tax-free income

 Tax-deferred income

 Tax-sheltered income

 “Bunching” deductions

 Prepaying deductible taxes (Make an extra payment on property taxes for example)

 Tax-advantages investments

 Postpone income (taking that Christmas bonus in the next year for example)

 1031 exchange for real estate sales

There are many other examples that may fit your situation. As an example, consider the difference between the yield on tax-free bonds as compared to the return on a bank savings account.

Taxes can be reduced legally and conservatively, and every taxpayer may feel comfortable in doing so. Consider this statement from U. S. Appeals Judge Learned Hand:

“Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one’s taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands.” Source: in the case of Gregory v. Helvering (1935)

Tax laws change frequently; consult with your tax advisor for the latest changes and how they may affect you.