ELI5: Explain Like I'm 5

Tax shelter

A tax shelter is a way to lower the amount of taxes you have to pay. It's like a secret hiding place that helps protect your money from taxes. For example, you can put your money in a special account at your bank and if you do that, you don't have to pay taxes on the money until you take it out. This can be a good way to save money and keep more of your money for yourself.