Strategies to reduce your taxable income?

[Anonymous No.53606760]

Lets say you make $200k/yr in the us
Single, standard deductions
You're looking at $40-$60k owed in taxes
how do you fix this within the confines of the law

[Anonymous No.53606971]

I just don't pay taxes. It's really that simple.

No taxes for a government that hates me and discriminates against me.

[Anonymous No.53607914]

bump

[Anonymous No.53607941]

>>53606760
Increase your retirement plan contributions I guess

[Anonymous No.53608040]

>>53606760
Make investments that allow you to itemize?
Tax deferred contributions
Start an LLC and claim reasonable business expenses
Like trade wash investments
Marry a bro in an open relationship for the benefits and “divorce” when you want to settle down
Renegotiate your pay into tax deferred accounts or non-cash assets that may or may not do well

[Anonymous No.53608125]

>>53607941
>retirement plan
thats the standard strategy
has to be a scam
I fully expect retirement plans to be rugged
>>53608040
I see
so nothing that lets me keep the actual funds then?
not a fan of letting someone hold the money for the "future"
>Start an LLC and claim reasonable business expenses
there might be something to this

[Anonymous No.53608522]

shitcoin thread? 1000x replies
4chan is dead
I gotta get out of here

[Anonymous No.53608536]

>>53608125
>so nothing that lets me keep the actual funds then?
Are you talking about withholding? Then you are employee and your employee is following the law which requires them to report your earnings to the IRS. You can't avoid taxes, you're in the database, if you don't file or report they'll just automatically send you a bill. There is no way to avoid employment income.

[Anonymous No.53608543]

>>53608536
I mean: then you are an employee and your employer

[Anonymous No.53608664]

>>53608536
>There is no way to avoid employment income.
can you redirect this employment income so it never becomes employment income?
like an intermediary source?

[Anonymous No.53608762]

>>53608664
Depends on what it is. If you have an employer that follows the law and sends 1099s or w2s to the irs, then you can't do anything except claim personal deductions or use a retirement account, hsa, etc to reduce it. The only way to avoid that is to get paid under the table illegally or give them a fake name and get paid in cash / crypto.

If you are self employed you can spend money on business expenses to lower your income, but anything you don't spend or spend on yourself is taxable, unless you do fraud and make up expenses you can't redirect that any more than personal income. Setting up an LLC means nothing because its taxed the same way.

[Anonymous No.53608776]

>>53606971
This. I fudge the numbers every year. I was supposed to owe $65k extra on my taxes but I'm gonna get a refund for $2k LMAO

[Anonymous No.53608821]

>>53606760
Be self employed.

I'm an independent contractor and make over 200k. I claim everything I can as a business expense including new phone, new laptop, rent (home office), power, internet, etc. I probably increase my income by five figures just in tax savings compared to a wagie with an equivalent salary.

[Anonymous No.53608851]

>>53606760
You can't. High earning W-2 employees are in the worst tax situation possible.

t. CPA

[Anonymous No.53608900]

>>53608762
thanks for the info
seems fucked
>>53608776
you mean theoretically
>>53608821
I guess thats the end goal
>>53608851
LAND OF THE FREE
:(
what happened to shady offshore accounts
I'm guessing thats only for businesses
wagecucks are wagecucks :l

[Anonymous No.53608957]

>>53608900
Yeah "theoretically"
I would post screenshots but you never if the feds watching

[Anonymous No.53609028]

>>53608957
>if
I'm sure the 4chan servers sit in their datacenter

[Anonymous No.53609042]

>>53608900
>what happened to shady offshore accounts
They may still exist, but you're problem is problem is your current income is already reported. A foreign account would only help if you received income overseas. Any income from the US is taxed. However, if you have investment income you can set up a foreign corporation in a country with no tax. Then any investment returns the company makes isn't taxed immediately. Only taxed as income when you distribute it back to yourself. But, the company can't do business with anyone in the US or it has to pay tax itself, and you can't own more than 10% of the business or you have to pay every year on its income not just when you distribute. Certain banks can help you set it up in a way where you don't own 10%.

[Anonymous No.53609152]

I am an American and live outside the US in the UAE.
I earn $250K per year.
IRS doesn't tax first $109K.
Then I have my single man deduction and then I also have my foreign housing deduction.
Also have some investment losses carried forward.
Charitable donations.
Maxing out my IRA.
Set up an LLC that is losing money through depreciation of assets
I pay 0 income tax.
I also hired a jewish CPA specializing in international taxation to help me with all of this and that jew charges me a lot.
Recently acquired a second passport, going to ditch my US passport in the next 12 months if my contract is renewed because this shit is exhausting and I am probably not coming back to the US.
for you, going the LLC route is the best - but you can only do this for a few years before you get flagged for an audit.

[Anonymous No.53609172]

>>53606760
get into political office and change it

[Anonymous No.53609183]

>>53609172
you would easily have the support of the masses ironclad once done. Probably make a holiday after you and you can rest easy knowing the irs never got that.

[Anonymous No.53609203]

>>53608776
I don’t understand this. How do you “fudge the numbers”? Filing with software you have a set of documents and you just plug them in. If you put the wrong ones the IRS “knows” and fails them back to you seems like (I’ve made genuine unintentional errors before and they always catch them). I’ve had family blatantly lie on their taxes and get audited. Are you fudging dependents or something? Don’t get how people are doing it so care free with seemingly no risk or fear of being caught. Unless you’re self employed or in a cash occupation for example.

[Anonymous No.53609266]

Move to a country when your taxes actually benefit you instead of going to welfare checks for nigs

[Anonymous No.53609276]

>>53609203
Hes just saying commit fraud. If you run a business you can fudge your numbers.

[Anonymous No.53609302]

>>53609203
Most crypto exchanges don't issue tax forms or report to the government. I do my business throughout the year, use cointracker to compile everything for me, and then I use convenients hide/ignore the transactions that will cause me to owe retarded sums to the government. It's that easy. I've been doing it since 2017. I did report 2019 honestly since I "lost" like $70k by doing wash sale. I still use it for carryover losses lol. There's no way I'm the only person taking advantage of lax rules in crypto like this.

[Anonymous No.53609331]

>>53609203
And I do pay taxes as normal from my regular job. $50k+ a year gets stolen from my paychecks. I don't think I owe the government more from my crypto.

[Anonymous No.53609427]

>>53609266
leaving out Asians for some reason

[Anonymous No.53609508]

Move your company or job online and base it from Dubai. Relocate to Dubai. Invest in every tax deferred govt scheme there is. Start a non profit and donate all your income at zero tax to it and then buy shit in your non profit with it. Start any type of business, immediately put your car, phone, business meetings and training, aka meals and hotels and events through it. Only invest in things for long term to fall into capital gains taxes. In US invest in property, start a property company and deduct depreciation and any furniture and appliances and general house related shit you ever buy. All of your companies may never make a profit on paper. If you have an actual business just heavily reinvest all profits each year to snowball the business without corporate tax. Look into trusts, I don’t know a lot about them but people seem to do tax evasion things with them

[Anonymous No.53609520]

>>53607941

[Anonymous No.53609527]

>>53609508
Dubai is expensive as fuck and the chicks are not for free. but yeah this is all good advice.

[Anonymous No.53609565]

>>53608125
Start a not for profit. Donate as much of your pre-tax income as you can to the not for profit. Write these donations off. Donate your stocks as well. Use your not for profit only in ways that financially benefit you, so long as you can do so legally. Hire your wife to your not for profit. Then divorce your wife, but only on paper, making sure she only controls the assets on paper.

[Anonymous No.53609589]

>>53609427
it's fine, let whitey, paco, and tyrone duke it out

[Anonymous No.53609672]

>>53609565
is that you bill

[Anonymous No.53609705]

>>53609427

Asians are the highest earning group in America. They make the most money and commit the least crime.

[Anonymous No.53609841]

>>53606760

1. Max out tax sheltered accounts. 401k, IRA, HSA
2. Move to a state with no state income tax like WA, the more regressive the tax system the better for high earners
3. Capital loss harvesting
4. Get married and have kids
5. Get a big mortgage and pay lots of interest which is tax deductible
6. Avoid short term capital gains like the plague, always hold for at least a year. If you want to fuck around with active trading do it within a self directed IRA which has no capital gains

[Anonymous No.53609858]

4chin came through for once
thanks for all the advice
how about that derivatives market :^)
>>53609042
thanks for all the info
>>53609152
>that jew charges me a lot.
they get there cut somewhere
godspeed anon
thanks for the info
>>53609172
>>53609183
and commit suicide with two taps to the back of the head?
>>53609266
just taking whats owed :^)
>>53609508
seems solid outside of the dubai thing
thanks
>>53609520
100% agreed
which is why I need that money now
it wont exist later
physical assets and resources > fictional investments
>>53609565
seems to a be theme
I was looking at this earlier as well
overall seems workable if you combine this with what the other anons are saying

[Anonymous No.53609865]

>>53609841
>4. Get married and have kids
>5. Get a big mortgage and pay lots of interest which is tax deductible
lol
this wipes out any potential longterm gains

[Anonymous No.53610002]

Work less hours?
I'm at $150k on 40 hours per week with a huge tax bill but I switched to 20 hour weeks last year to help my wife out with a newborn. We actually qualified for gibs in my state and SNAP (food stamps), and I had more time with my family.

[Anonymous No.53610024]

>>53609858
While you're in office being a real hero you can bring gun laws back in line to the way the founding fathers intended and carry the piece on you at all times. They can't double tap you if you shoot them first and at the end of the day dead assassins tell no tales nor deserve to have the truth be honored in the court of law.

[Anonymous No.53610036]

>>53610024
they don't let you in unless you're
bought and paid for
willing to be bought and paid for
truly clueless
if you deviate once in you die or get ruined

[Anonymous No.53610058]

>>53610036
Could just lie to them, take their "donations", invest in alternatives, and just do whatever you want. It's okay to say no. They are cuckholds. It's why they hide behind armed forces. You know what works? Doing all the work. Suddenly, people trust you and vouch for you.

[Anonymous No.53610076]

>>53610036
The only circles that can't be truly penetrated are the jewish only circles because they do judge like that.