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  You may think that tax avoidance and tax evasion are two names for the same thing. However, both tax evasion and tax avoidance are different, even though the sound of both is similar. So today, as Adslither , a Business Accounting Services provider, we will tell you the difference. What is Tax Avoidance? The first thing to know about tax evasion is that it is legal. By definition, it is the lawful process of using techniques written in the tax code to reduce the amount of taxes you owe. Using the software available to you, you can keep more of your after-tax money. For example, tax avoidance tools such as the ones you use to reduce deductions and tax credits, which you must pay, or the establishment of employee retirement plans, which hide income. Here are two more tax avoidance strategies, which you can take advantage of. ●        Tax deferral plans include SEP-IRAs, 401 (k) plans, and IRAs. All of these postpone tax liabilities. ●        Tax deductions and credits are av