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Latest revision as of 23:24, 26 July 2026


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There are two terms in tax law that need become readily familiar with - kontol and tax avoidance. Tax evasion is a low thing. It occurs when you break the law in an effort to not pay back taxes. The wealthy individuals who have been nailed for having unreported Swiss bank accounts at the UBS bank are facing such expenditure. The penalties are fines and jail time - not something you need want to tangle with these days.

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4) Do about to retire? Any amounts withdrawn from a retirement plan before your 59 1/2 are subject to early withdrawal penalties plus it'll be treated as regular taxable income. No early withdrawals!

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