Tax Avoidance General #1

[Anonymous No.26325247]

Last threads 404'd on /pol/ Jannies mad. Removed from Wayback Machine.

PURPOSE: For anons to help anons pay less in taxes. This is for discussion of only legal ways to pay less in taxes.

HIGHLIGHTS:
>Ok actual advice from an actual rich person who got rich avoiding taxes.

>Buy real estate. Loans are dirt cheap, you write off all your expenses, but the best part is you get the depreciation deduction while using other people’s money. Rent it out.

>Start a business. It can be anything and it doesn’t have to make money. Hire your children. All your expenses can be deducted from your taxes and if the kids won’t make enough to pay income tax. Put all of that into their Roth IRA and it will grow tax free.

>Debt and taxes are how rich people get rich. >Read a book and educate yourselves.

>Homestead. Get land in an area with low property taxes. Once you own the land, you don't pay rent. Buy solar, once you own your own electricity you don't pay an electric bill. Heat your place with wood. Live in an RV to keep the property value low and thus keeping property taxes low. Collect rain water, compost your waste. This prevents you from having to dig a well and install a septic system. Grow your own food, raise your own animals and get a job that keep you below the taxable level of income if you need money until you are producing enough to sell to cover your very miniscule monthly expenses. Use regenerative agriculture techniques, using cover crops to generate animal feed and manure to fertilize your garden. Think about making barter transactions that don't require exchange of fiat to acquire what you need. They don't tax barter transactions. Get creative, get on it.

[Anonymous No.26325309]

Good thread have a bump. Fuck jannies.

[Anonymous No.26325312]

>>26325247
Bump. Interesting.

[Anonymous No.26325351]

>>26325247
>Once you own the land, you don't pay rent.
Property taxes are still rent, no?

[Anonymous No.26325368]

>>26325247

Based. Fuck paying to an organization that aims to destroy you and your future children’s life.

[Anonymous No.26325374]

bump

[Anonymous No.26325448]

Move to cheap tax haven with no capital gains. Other wise just tumble your stablecoins through tor and finger your asshole

[Anonymous No.26325490]

What US states have the lowest property taxes? Alaska? Wyoming? Any anon know anything about getting an allodial title to your land?

[Anonymous No.26325533]

>>26325448
Or wait for atomic swaps on xmr and then localmonero that shi

[Anonymous No.26325600]

Based.
Fuck jannies

[Anonymous No.26325815]

A syndicated conservation easement transaction can be used to offset up to 50 percent of an investor’s adjusted gross income in a tax year. The IRS does allow you to carry over contributions that exceed your adjusted gross income. For a qualified conservation transaction, the time limit on those carry-overs is 15 years.

The potential tax benefits of these deals has led some financial advisors to pursue these investments on behalf of clients. Certain characteristics need to be in place when sourcing these private transactions — such as top-notch legal and accounting teams

[Anonymous No.26325825]

>>26325247
I live in the UK and I have never paid capital gains tax - AMA

[Anonymous No.26325878]

>>26325351
>Property taxes are still rent, no?
>>26325247
>>26325448
>>26325490
Just want to add here that Vietnam is hyper-capitalist since the past decade and has NO ongoing property tax. You pay an amount on the sale and then you're clear

[Anonymous No.26325892]

Lowest taxes in the US:
>Alaska: 5.7 (based)
>Delaware: 6.1 (cringe)
>Montana: 7.0 (redpilled)

[Anonymous No.26325890]

>>26325247
im not paying a single cent in taxes.

[Anonymous No.26325897]

>>26325815

IRS is cracking down on that though. You're two years too late.

[Anonymous No.26325950]

Bump. Imagine paying taxes

[Anonymous No.26325954]

>>26325247
Based thread fren. Very interested in hearing what my fellow /biz/ness men do to keep their hard earned schekels

[Anonymous No.26326067]

>Nevada
>In 1997, the Nevada Legislature created a new section of statutes within the property tax statutory scheme. Nevada Revised Statutes (NRS) 361.900 to 361.920. These statutes, which are entitled "Allodial Title", became effective on 1 July 1998, and were intended to protect property owners from the burden of the high increases in property taxes that often occur when unincorporated land becomes part of a town or city. Nevada allowed persons who owned and lived in single family residences to obtain allodial title if the property was not mortgaged and had no tax liens. Allodial titles were subject to exemptions from seizure in debt or bankruptcy under homestead laws; however, a property could be seized if used in a criminal enterprise. In 2005, the Nevada Legislature prohibited applications by property owner for an allodial title after June 13 of that year.

I don't know law gobbledygook

[Anonymous No.26326138]

Any Aussies here know how the ATO treats crypto? I was considering only logging my 8k startup going into crypto and then coming back out, and then letting them do their own investigative work on the portfolio
Would this work?

[Anonymous No.26326185]

wow what a helpful thread!

[Anonymous No.26326286]

>>26325247
Based. Fuck Jannies.

[Anonymous No.26326359]

>>26326185
tax avoidance is perfectly within legal bounds agent

[Anonymous No.26326384]

>>26325247
Accounting student here. Remember to keep is simple and consider buying municipal bonds (which are tax exempt) and provide a safe 6.5% return. If your employer has one, a HSA/HDHP is a great way to avoid taxes.

A youtube channel I'm a fan of is Mark J. Kohler. He talks a lot about ways to minimize taxes, and he's both a CPA and an Attorney.

[Anonymous No.26326402]

>>26326138
I do.
Depends on how the profit was made.
Mining or trading fast (like arbitraging) they want it as revenue /income But mainly only if you're profitable because then you can claim the losses easier.
If buying and holding then it's an investment and it's a capital gain. Hold for a year and get discounted capital gains.
Crypto to crypto is a capital gain event. This can send you broke if you realise your portfolio in a bubble by churning investments and then not take cash. Value of your crypto after crash can be worth lease than your tax liability

[Anonymous No.26326409]

>>26325897
True, but I believe it can still be lucrative in majority privately owned states or states with less "protected areas." And conservation Orgs may be willing to pay top dollar to expand their land trusts which can be a way out after making use of tax benefit depending on income. Largest generational swap in private lands occurring this decade. Most new owners will probably relinquish ownership due to disinterest in rurality and land will be fragmented. Might be something to work with in the coming years.

[Anonymous No.26326723]

>>26325825
how did you get away with it?

[Anonymous No.26326739]

>>26325247
So with all this Panama Papers leak, all these restrictions, with FATCA and CRS and Putin's palace offshore uncovering... is offshore still a legitimate strategy to hide wealth in 2021 for those who are non-US people?

I know that US citizens are extremely restricted and no banks will accept them, but what for citizens of Europe, for example?

From what I see US is trying to become THE offshore capital of the world. They aren't really rejecting Europeans from holding stocks in their brokerages and money in their banks.

Are they sharing this information with respective governments automatically?

Do US brokers share info on EU stock holders?

Do US banks share info on personal EU citizen accounts?

What other options are there if you want to transfer wealth from individual to an offshore company in 2021?

With mandatory beneficiary owner declaration, what methods work?

What are your thoughts on having offshore that is registered by another offshore in another jurisdiction, that are held by a trust?

Do these schemes still work?

There was a lot of buzz about automatic exchange of information, but in practice, is anyone really doing anything?

Which structures still work?

[Anonymous No.26326804]

>>26325247
RBC AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

[Anonymous No.26326947]

>>26325490
I followed a sovereign citizen rabbit hole on the title subject and it seems to involve paying for all the likely property taxes you'd pay over your lifetime or ownership of it, but up front. Maybe something about them accounting for descendants' life spans too.

[Anonymous No.26326973]

Hypothetical guys. I live in the US. Say i cash out 8k and my principal was 2k. Will the IRS really to after me over 6k if I’m a poorfag income wise too?

[Anonymous No.26327050]

>>26326973
Seen rumors that state amounts under the personal standard deduction (10.6k? Can't remember) aren't worth stressing about since they'd be untaxed anyway. Dyor though

[Anonymous No.26327184]

>>26326739
>Panama Papers leak

Literally nothing happened because of it.

Can you imagine being a top tier hacker group exposing insane conspiracy theories only to be laughed off? I can because most haxxor's are establishment as fuck.

[Anonymous No.26327199]

>>26325890
either superrich or just poor

[Anonymous No.26327272]

Two questions

1) Does trading crypto for an item create a taxable event? e.g. if you directly swapped crypto for a car

2) redpill me on crypto loans. What is to stop me from depositing all my crypto on a loan platform like nexo, and using it as collateral for a loan? The APR is only 5% per year. Is this viable long term?

[Anonymous No.26327327]

>>26327050
I did research on it and theres so many anecdotes that vary.

[Anonymous No.26327781]

blessed thread

[Anonymous No.26327887]

Bump

[Anonymous No.26327961]

https://i.warosu.org/biz/thread/S25252580#p25252580
for the offshore anons with high 6 figures or 7. It might be worth while to put the magic circle firms wiki in the OP
>>26327272
>Does trading crypto for an item create a taxable event? e.g. if you directly swapped crypto for a car
yes.
> redpill me on crypto loans. What is to stop me from depositing all my crypto on a loan platform like nexo, and using it as collateral for a loan? The APR is only 5% per year. Is this viable long term?
trusting your crypto with some random loan company. other than that not much

[Anonymous No.26328070]

This is a good thread... I have an pdf of a tax planning book that helps develop strategies for reducing taxes. Also, OP, going forward, call it tax REDUCTION and not avoidance to avoid getting these threads deleted/archived as it will sound as if we're colluding to perform illegal acts.

I'll post the book in a while... I gotta get my laptop out of my car.

[Anonymous No.26328210]

>>26328070

Holding you to that Anon

[Anonymous No.26328316]

>>26325247
Dont flee the states. just dont pay. Stick your neck out for your republic and avoid taxes at all cost but dont move eventually you will have no where to run.

[Anonymous No.26328331]

>>26328070
Don't get suicided by the glowwies on your way anon!

[Anonymous No.26328407]

>>26328210
I need help with where to upload it once I grab it though. Whats a good place that doesn't require creating an account?

>>26328331
It is ABSOUTELY LEGAL to reduce your tax liabilities as long as you to it under lawful means. The book I have is a best seller and doesn't show you how to cheat the system.

[Anonymous No.26328516]

>>26325247
The best way to avoid having to pay taxes is to not work and to become self sufficient.

[Anonymous No.26328566]

>>26328407

Try DocDroid

[Anonymous No.26328945]

>>26325247
Any austrian bros in here? How do you deal with taxes? 55% above 100k is raping me.

[Anonymous No.26328991]

1. Open up an account at interactive brokers.
2. Perform a ACATS transfer to maintain your cost basis for what stocks you own.
3. When you need money for something instead of selling stock just use margin to buy what you want since margin loan rates are around 1% a year.
4. Never pay capital gains tax since you didn't sell.

This is one way rich people avoid paying taxes. Won't work for 95% of /biz/ because noone will give you a margin loan on doge coin.

[Anonymous No.26329126]

>>26325247
fucking based.

[Anonymous No.26329216]

How does creating a non profit help with taxes?

[Anonymous No.26329320]

>>26325825
Do you just never go above the capital gains allowance?

[Anonymous No.26329414]

>>26326723
He never had any capital gains.

[Anonymous No.26329806]

If I collateralize a loan on aave with link, then it crashes and I get liquidated, is that a taxable event?

[Anonymous No.26330077]

>>26328991
>margin loan rates are around 1% a year
where. my broker charges prime+3.50%. Interest is based on an annual rate, calculated daily and charged or credited to your account midway through the following month.

[Anonymous No.26330164]

>>26328945
Doesn't Germany have 0% tax on crypto? Maybe you should move across the Reich.

[Anonymous No.26330319]

>>26330077
See my original post that you should move your stocks over to interactive brokers. Margin rates are around 1%.

[Anonymous No.26331028]

>>26328991
>noone will give you a margin loan on doge coin.
defi will