Abusive tax shelters are transactions that have no legitimate business purpose and are used solely to reduce or eliminate tax liability. Unfortunately, business owners can be tricked into using one of these shelters and end up facing back taxes, interest and penalties. To protect yourself, be wary of unsolicited offers that promise to make you money through tax write-offs. Also be suspicious of one-size-fits-all solutions and those that involve third parties such as foreign corporations and tax-exempt entities. Contact us for responsible tax-minimizing strategies.