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How to dodge as much tax as legally possible?...
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How to dodge as much tax as legally possible? any books on this subject?
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>>1055998
by posting on a public forum so that the IRS can easily trace your IP address
>>
Spend all your money on tax deductible donations to charity. If done correctly you will end up paying no tax, and it's perfectly legal.
Good luck!
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>>1056000
nice scaremongering faggot

>as legally possible
>>
>>1056000
>>1056001

>1:13 between consecutive posts

Nice ded board
>>
>>1056001
>start up business
>become profitable
>startup charity
>donate business tax payable to charity
>use charity money to pay self a salary of $2m a year, rest goto actual charitable causes

is this legal? whats the highest amount I can pay myself as a charity director without losing a charity status?
>>
least helpful board on this cunting site
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>>1056019
You could do it, but you wouldn't really avoid any tax. You would still have to pay personal income tax on your $2 million salary.
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>>1056025
mmm...
whats the best strategy at that point then?
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>>1056019
Holy shit is this what Trump has been doing
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>>1056028
You can't have your income and donate it too. You either keep the money and pay tax, or give it to charity and don't pay tax.
If you try and get the money back out of the charity you're just going to end up back at square one.
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>>1056002
>legally possible
If you dodge any tax at all it is immediately illegal.
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>>1056029
This is what literally every rich charity ever does
This is how the rich launder money
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>>1056037
tax minimization isnt illegal
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>>1055998
The only way is to hire a lawyer. Have you read your tax laws? Very complicated. If you're making enough money to warrant evading taxes, hiring a lawyer should be no trouble. Otherwise, just lie on your tax returns. Deduct the shit out of everything; claim you got paid 10% of what you actually made in income. If you can't even afford a tax lawyer to do it for you, the tax man won't notice.
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>>1056037
yes upon reflection
>how much can i minimize tax legally
is more appropriate
>>
traditional IRA and 401k can take care of a lot of your annual income

avoid owning house/car or purchasing anything to eliminate property and sales tax
>>
>start a LLC in hong kong
>sell random product outside of honk kong (should be virtual good so you dont have any costs)
>theres no tax unless you sell your product in honk kong
>enjoy bad hong kong air
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>>1056584

401k and IRA's has a max cap of 18.5k a year.
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>>1056028
Give yourself a small reasonable salary
Leave the rest in the charities name and just spend it from there when needed
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>>1056000
>implying IRS has money and resources to monitor all internet activity.

They literally have to decide between auditing richfags and poorfags. Who do you thinks going to pay up? Who do you think they go after
>>
>>1056025
>>1056035

The idea is to avoid corporate taxes with this routine, NOT personal income tax.
So it stops your money from being double taxed
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>>1058346
But you are double taxing yourself anyway, you are losing the money that goes for actual charity.
>>
5 flags theory
Perpetual travel

Essentially, don't settle anywhere specific and have accounts in fiscally attractive locations such as HK, Singap, dubai or panama.

Hiding in plain sight (filling tax form and cheat on it) is incredibly hard compared to merely escaping therefore making you nearly invisible to a tax agency.
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>>1055998

>>1056041
^This is the only advice worth listening to. You need to operate within the bounds of the system. With currencies moving more and more towards electronic, you'll end up getting crucified if you try to operate outside the system unless your idea is super clever.

(And if your idea was that clever you wouldn't be here in the first place.)
>>
>Start business
>Make money
>Take cash payments at 2-5% discount, tell them you don't need to pay Visa transaction fees or some shot
>pay your wife and yourself minimally to avoid tax
>spend cash on the businesses profits, buy cars, electronics, certain types of clothes, etc
>now since your revenue is largely unreported cash, your profits are near zero
>tfw the only tax you paid this year is sales tax and you're cruising in a Benz wearing expensive clothes and your kids go to college for free
Poor fags will never live this life.
>>
>>1056600
>posting with a trip on /biz/
>doesn't even know the basics of personal finance
>>
Don't document your income. No document, no tax. I personally don't pay tax, except VAT which I cannot dodge.
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>>1055998
Figure out how much you owe in taxes.
Divide this number in half.
Spend up to that amount on lawyers & accountants to figure it out for you.
This is what major corporations do.
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>>1058346
Then you just register as an S Corp or an LLC you dunce.
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>>1056019
You have to pay income tax on the salary. Your dividends as a company owner (assuming incorporated) would be much more tax friendly than the charity thing.

In Canada non-profits are allowed 'reasonable remuneration' for directors and officers of non-profits
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>>1058346
Double taxed?

Payroll is a tax writeoff. If you make $10, and pay out $5 to employees, you only get taxed on the $5.

It's the SS benefits that kills you on paying employees. much better to keep it in the corp and then pay out as dividends
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>>1058699
If you get audited, revenue services can look at your lifestyle to judge if you take part in the 'underground economy.' If you spend your money on untraceable shit like booze and gambling then you'll probably be okay to a certain extent. But you could get fucked for not giving out receipts.
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>>1055998
If you can dodge incoming traffic, you can dodge taxes.
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>>1061258
JIDF detected
>>1061224
Thread replies: 35
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