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/biz/ - Business & Finance

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57918226 No.57918226 [Reply] [Original]

I just jumped from 65k/yr to 120. Now I find out Im going to pay over 30k in income tax this year. What can I do to mitigate this? Holy shit, is there any way to avoid funding israel without being sent to the pokey?

>> No.57918239

just don't pay it

>> No.57918247

>>57918239
pokey

>> No.57918261

Isn't what you actually get still way way more than what you got previously...?
You greedy garbage shithead, first it's "muh rich peoplez must pay their fair share" but as soon it's you you become a greedy garbage jew. Kys

>> No.57918300

>>57918226
>buy 0DTE options
>donate to charity
>put tons of money into deferred comp or towards retirement
>pay for the largest health insurance plan you have
>marry someone
>have kids
just search for ways to lower your taxes it isnt hard

>> No.57918301

>>57918261
dickhead, weather you make 65k or 120k, you only have a 2% difference in your taxable percentage of income. Doesnt matter what you make, we should have a flat tax. The issue is tax breaks which allow billionaires to pay a lower percentage of income in taxes than mcdonalds workers. This system just oppresses anyone who starts to gsin momentum and keeps all the goyim in servitude.

>> No.57918304

>>57918226
invest it all in RLC so you outgain your tax problems

>> No.57918306

>>57918300
yeah but none of tyese actually end up in me keeping my money - or do they? Im no accountant
also nuce dubs

>> No.57918325

>>57918301
a flat % tax ye. you make more, you pay more
you still got a massive upgrade. pay your tax you greedfuck disaster of a human

>> No.57918338

>>57918306
depends
you get to keep the money you put into retirement
having kids costs money but they give you money to offset the cost of taxws
if you marry a rich enough girl it can actually be profitable for you
sometimes buying options hits

>> No.57918340

>>57918261
But Anon, he EARNED it. Most rich people getting their money doing nothing. OP earned it by buying shitcoins. Why are you trying to deprive him of his hard work?
>>57918301
>The issue is tax breaks which allow billionaires to pay a lower percentage of income in taxes than mcdonalds workers.
Anon, billionaires only pay a flat 20% on their long term capital gains. They already have a flat tax.

>> No.57918374

>>57918226
you seriously dont think most of us pay tax on crypto do you? I took out 80k in crypto years ago and aint paid shit

>> No.57918384

>>57918325
so Im a jew for not wanting to fund israel?
maybe if I had any control over where my taxes went I would be ok with paying them. schools, roads, basically any public service is horribly unfunded here. meanwhile thebus military us the most expensive thibg ever created. Best I can do is choose brandon or blumf? what a fucking joke. you will pay for your own demise with those taxes.
my work kills children. there is no way to avoid this living in this country. until I can ensure that money isnt spent on murder, I dont want to pay it fuck you

>> No.57918428

>>57918226
set up some bullshit company with zero investment/equipment needed, consulting whatever.
your crypto is your capital contribution. borrow 120k against it, then cash out via your company who then pays it to you as salary, as long as the company generates no profit, no tax. you'll stll have to bear some administrative/legal costs+interests on the loan, but it will be way less than 30k
the only part that'll require some work is finding the bank that'll play ball, but even that shouldn't be too hard

>> No.57918430
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57918430

>>57918384
Silly Anon. Your taxes don't fund the government. The government prints as much money as it needs. Taxes just formalizes the fact that you can be arrested at any time for not playing along.

>> No.57918453

>>57918226
>Holy shit, is there any way to avoid funding israel without being sent to the pokey?
No.

>> No.57918455

>>57918226
>65k/yr to 120
Why are Americans so fucking rich? These salaries are unheard of in Europe.

>> No.57918464

>>57918430
Don't forget taxes and debt payments (same difference at this point) are the fiat burn adres. Government can spend tokens but to keep the price up you need to burn them.

>> No.57918472

>>57918455
There's a reason you're called Europoors.

>> No.57918499

>>57918226
The tax man is the kikiest kike of all kikes. The only way to avoid him is paying out the ass to other kike lawyers, which all benefits Israel in the end.

>> No.57918544

>>57918226
max a pre-tax 401k and hsa

>> No.57918547

>>57918455
They have to pay their own medical bills remember?
They also spend an inordinate amount of money on stupid garbage. Burgers are retarded no matter the money

>> No.57918549

$30k in taxes, you're basically paying for some anon's autismbux, based.

>> No.57918570

>>57918428
im interested in doing this...maybe as educational videos or something like that...and just writing off shit im going to buy anyway. don't even care about monetizing the videos. maybe even find a way to write off finishing my masters

>> No.57918583

>>57918455
nice dubs.
for one, the euro is basically worth 10% more than the dollar
you would be surprised how little 65k gets you in america. 65k is basically the income of a decent waiter, and gets you little more than the bare essentials

>> No.57918608

>>57918428
>as long as the company generates no profit, no tax

are you forgetting your own personal income tax on the wage you are paid by your company? if not, how?

>> No.57918619

>>57918455
Sure we have those kind of salaries. Just not for normal workers. Upper management, finance, etc has those kind of salaries.

>> No.57919107

>>57918226
Max out your 401k and HSA and that's like 25k off your taxable income.
That's about all you can do as a wagie on W2 income.

>> No.57919666

>>57918428
Good luck with your business that has deducts expenses and generates zero profit. I'm sure they're irs won't see through that lmao.

>> No.57920368

>>57918455
bruh I made 75k eur/year
You were just not meant to I guess

>> No.57920379

>>57918301
Flat tax is called inflation

>> No.57920393

>>57918261
>You should be happy about your money being taken from you and given to brown people, israel, and brown people and israel killing your own people.

>> No.57920414

>>57918226
Maybe if you get paid in stock I guess

>> No.57920424

>>57918583
i've lived an extremely comfortable life on 50k/y in america
the main problem with burgerland is burgers. you are all raised to be maxconsoomers, with no impulse control and crazy spending habits. an european who spends like an european in america spends maybe 20% to 50% more than in europe, which is an excellent deal given salaries range 2x to 10x higher and taxes are lower

>> No.57920456

>>57920424
You live in the middle of nowhere or are using the term "comfortable" loosely. 50k ain't shit
>t.comifornia resident

>> No.57920950

>>57918455
bro I can tell you cost of living is insane in burgerland
rent 3x higher, food 2-3x more expensive, insurances are insane etc etc. at the end of the day most amerimutts live paycheck to paycheck
>t. yuropoor who lives in florida

>> No.57920980

Transfer everything out of your name and then they can't take anything away from you when you don't pay. No, you're not going to prison either

>> No.57921012

>>57920980
>Transfer everything out of your name
Like to a mother, huh? I think there was some soccer player that did that. Ex tried to steal half his wealth, but he had the assets under his mother's name so she couldn't do shit. Good way to piss off left winger so'yd up judges. I bet that judge had a temper tantrum when he found out. Prenups don't work, but this seems guaranteed to work as long as you can trust your mother

>> No.57921049

>>57921012
kek that's the exact scenario I was thinking of when I typed that. If you come from a dysfunctional family, it might not work out so well. I don't know if the same results would happen if you do that to the government vs your wife, though. The jews had thousands of years to perfect their system so, trying to out jew them can be a challenge

>> No.57921084
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57921084

>>57921012
Btw can I do something like that last minute?
Say I hold all my assets. Say a bitch wants to divorce. Can I then say "Okay, bitch. I'll divorce you, but I will be transferring ALL my assets to my mother first". If it's a last minute thing, would there be some jewish bullcrap that gets in my way first?

Another scenario. Say I had a good paying job and I had a kid with the bitch, but didn't want to pay child support (not that I wouldn't support the child, but I don't like the concept of child support because the bitch would just use 95% to spend it on clothes). Do they look at your current income or the income from the prior year? Cause I'm thinking a loophole for that is to get fired/quit job (and move in with your mother who you gave access to all your assets) and make your income be basically 0 for the tax year, then you divorce the year afterwards. Then when the judge looks at your income, they'll basically make you pay or potentially nothing at all (idk the nuances for that).

Did I just come up with a big brain loophole?

>> No.57921095

>>57921084
>they'll basically make you pay
*the minimum

>> No.57921113

>>57921095
Also might not be worth doing if the child support paid results in less of a hit than a year without a job. But then again could be seen as R&R anyways which is priceless

>> No.57921162

>>57921049
Hmm actually that is something I wonder about. Say you were going to file for bankruptcy. You have to liquidate your assets.. but why don't people just give their assets to a trustworthy person first before filing? Kind of odd. And it does beg the question on how jews would react to this loophole

>> No.57921172

>>57921084
No, the judge can find that you are underemployed and peg your income at the previous income you were making. It won’t work

>> No.57921240

>>57921172
>and peg your income at the previous income you were making
That doesn't sound difficult to circumvent. Just be creative. You can just work an uber job like once for the year, state that as the income, then problem solved. Or if a day is considered too little, then like once a week or whatever the minimum is for it to count as the "source of income". If a gig doesn't work, then a part time job at a walmart for a month. Then state that as the last place of employment

>> No.57923104

>>57918455
65k isn't enough to rent in any major city in america THOUGH. 65k in europe you can live like a king

>> No.57923297

>>57918226
stop being retarded that's not how tax brackets work. you're going to be in a 2% higher bracket for 25k dollars so a whopping $500 more all at the cost of making twice as much. If being in the 22% bracket is such a big deal to you then go marry a seamonkey

>> No.57923407

>>57923104
>65k in europe you can live like a king
Lol no. Make just above 65k pre tax, middle class maybe.

>> No.57923408

>>57918549
>1100 in 1st bracket
>4050 in 2nd bracket
>11,140 in 3rd bracket
>6,000 in 4th bracket
it's $22,290 in federal taxes so with with SALT it may be close to $30k, but that was without accounting for deductions and tax breaks, so in reality his total tax bill could be lower than $20,000

>> No.57923920

the only real way to duck taxes seem to involve foreign banks or outright fleeing for foreign citizenship in a tax haven like sg

>> No.57923998

>is there any way to avoid funding israel without being sent to the pokey?
if it makes you feel better we print money to fund things, your taxes are just burned to lower inflation, so you can always cope that you're not directly paying for shit

>> No.57924161
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57924161

>>57918226
kek i paid over $50k in income tax last year
your hard work will be used to pay for the bombing of poor people no matter what you do. refuse to pay and you'll be locked in a concrete box and used as an even lower form of cattle

>Holy shit, is there any way to avoid funding israel without being sent to the pokey?
literally fly to some jungle island country with your life savings in Monero and never use a bank account again i guess

>> No.57924185

>>57920393
>He doesn't realize he has to pay taxes to brown people because the country needs more working class Americans to pay taxes because rich people refuse to pay

>> No.57924216

>>57920950
>rent 3x higher, food 2-3x more expensive
kek what is this nonsense
i will agree with rent being higher in american cities, but food is a fraction of the cost compared to europe
a dozen eggs in copenhagen? like $5-6
want to raise your own chickens? need a license for that anon

>> No.57924296

Why are people so stupid about taxes?
An example:
If everything under $100k was taxed at 1% and everything over that was taxed at 2%;
When you make $120k you would pay $1,000 for the 100k you made and $400 for the extra $20,000 you made.

It's not like when you're making 99k and you take home ~70k and all of a sudden at 100k you take home 50k because of "muh higher tax bracket".

>> No.57924305

>>57924296
nobody said it was like than anon
OP is just realizing the sheer number of cluster bombs that he is dropping into ukraine to kill slavic lads

>> No.57925440

>>57918455
europoors. they do work like half as much as americans though.

there is no way you're going to avoid paying taxes on regular legal income that gets reported to the government on a 1040, w2 or as 1099 contractor. if someone is handing you cash don't report it. that's illegal though.

>> No.57925505

>>57925440
Europe has the richest coutnries in the world, retarded nigger

>> No.57925518

>>57920456
Lol? Dude, $700/month room rental. Less than 150/month on groceries (milk/fruits/meat). No car, no insurance of any kind. Bike ride to closeby places for Essentials.

Fully remote customer support job, 49k/year. I was living amazingly. Al hambra btw. 15 min from downtown LA. Beautiful walks on the beach every day, hiking in the valley on the weekends through busrides

Now im in software making almost 10x that. But those days were awesome dude. Its easier than you think

>> No.57925537

>>57924296
think of how stupid the average person is. half of everyone is dumber than that. since these people are in this very thread let me explain. taxes are a percentage of what you make in buckets. there is no way you can ever owe more than 47 cents in tax per one dollar you make. you only pay the bucket rate on however much was in buckets.

for example if tax rates were
10% on first 10k = 1000
15% on the next 10k = 1500
20% on the next 20k = 4000
50% on the next 100k = 50000

if you made 50k you'd owe the sum, 1000 + 1500 + 4000 + (10,000 * .50) for the 50% bucket = 11500 . NOT 50% of 50k = 25000 like so many people think.

thats why the effective tax rate of working class people is much higher than the ultra rich, the ultra rich pay 10% on 10 million while the working chumps pay an effective tax rate between 15 and 40%

wife and i made 350k paid in 2023 and paid a 21% effective federal tax rate. adding in state, social security, all the other bullshit we're paying over 32% in taxes.

>> No.57925548
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57925548

>>57925505
kek

>> No.57925667

>>57924216
>i will agree with rent being higher in american cities, but food is a fraction of the cost compared to europe
bro if you want REAL food its gonna be 2-3X more expensive in America than in europe. go to whole foods right now and look at the salmon there. 90% of that shit is garbage with fucking sugar and food colouring. I have to buy imported salmon from norway just to get some proper fish out here. Same with the "bread", it has 50 ingredients. I have to buy imported bread from germany to get the real deal. most amerimutts have no idea how cucked they are when it comes to food, its all tainted with chemicals and horrible things. like who in their right mind would put sugar and colouring into salmon? I spend like a grand a month here on food, in europe it was maybe 400-500. im stuck here for another year for work cant wait to fuck off home to europe again desu.

>> No.57925682

>>57925667
oh and the rent is literally 3X more than what I paid back home. paid about 800 bucks for a 2BR in yuropistan here its 2500 for a 1BR lmao. America is really dystopian unless you make tons of money. I make 90k a year in South Florida and take the bike to work because insurance here is just insane.,

>> No.57925714
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57925714

>>57918455
we need higher salaries to pay higher taxes to Ukraine to fight wars against other Europoors.

We're secretly killing you all but very slowly.