shelter

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Tax Shelter

An investment vehicle that reduces one's tax liability. For example, a 401(k) defers taxation until withdrawal from the account and may therefore be considered a tax shelter. Tax shelters are legal unless their sole purpose is to avoid taxes. See also: Tax evasion.

shelter


shelter

To protect one's income from taxation. Some taxpayers shelter their income by investing in such activities as oil drilling ventures.
References in classic literature ?
For, the fugitive out on the marshes with the ironed leg, the mysterious young man, the file, the food, and the dreadful pledge I was under to commit a larceny on those sheltering premises, rose before me in the avenging coals.
MY curiosity, in a sense, was stronger than my fear, for I could not remain where I was, but crept back to the bank again, whence, sheltering my head behind a bush of broom, I might command the road before our door.
It was the work of but a moment for me to reach the windows above, and soon I had drawn myself within the sheltering shadows of the unlighted third floor.
Once or twice its service was most effective, as when a fishing boat, with gunwale under water, rushed into the harbour, able, by the guidance of the sheltering light, to avoid the danger of dashing against the piers.
And to make this quite clear I say that I consider those who are able to support themselves by their own resources who can, either by abundance of men or money, raise a sufficient army to join battle against any one who comes to attack them; and I consider those always to have need of others who cannot show themselves against the enemy in the field, but are forced to defend themselves by sheltering behind walls.
And now the half- weaned calves that have been sheltering themselves in a gorse- built hovel against the left-hand wall come out and set up a silly answer to that terrible bark, doubtless supposing that it has reference to buckets of milk.
I felt the agitation of the heart, I saw "the purple light of love" cast its glowing reflection on cheeks, temples, neck; I desired to consult the eye, but sheltering lash and lid forbade.