[POLL]How do you pay less taxes?

[liquidrage]

I don't recommend the not paying at all method. I tried it and now I have to write them a really fat check each month. I.R.S= worse then the M.O.B

 

[mr.breakit]

I use legal ways I just make sure all business expenses are in there otherwise I would be running a line I would not want to get my hand slapped uncle sam is nasty if you try and f him

 

[RebelMaster]

Here's a link to a site that does some decent explaining about various company setups (C-Corp, S-Corp, LLC, etc.)

http://www.bizfilings.com/Learn_About/

Maybe it will help someone understand this stuff a bit better.

NOTE: Not recommending this site one way or other but it helped me to find the right questions to ask when I consulted with my attorney and accountant about setting up my LLC properly for MY needs.

Bottom line ... GET your advice from an atty & accountant - NOT from a forum. Everyone's situation is different.

FWIW ...

RM

 

[dre7]

Get an offshore company set up this is the best way.

 

[theadultsplayground]

no, it goes towards outsized salaries for lazy sponges. old people, school administrators, policeman, other politically connected sleazebags like haliburton and goldman sachs.

Thank you, I'm glad someone has some sense about where your taxes go.

 

[johnqpublic]

I end up paying quite a bit of taxes because I really have no business deductions to speak of . Most of my traffic is free, I do all my coding myself, and I rarely buy any kind of supplies or anything (and you can only claim things like computers, etc ONCE).

It's a bit dishearting to give away 35% of my income every quarter, but the way I see it, it's a good problem to have. I could be making NO money online.

Man, 'my friend' runs lots of money through paypal and there no taxes there... AdSence yearly 1099 is getting bigger but not anything 'my friend' cant offset. Dependents are the key to lower taxes. Make sure you have 2.. Get creative. Start a new business that takes a loss... Learn the taxcut program back and forth...

They give 'my friend' credits and take the tax out of that, then give 'my friend' the difference.. Truth be told 'my friend' makes 4k at tax time.. Oh dont get married,...lol... both get 4k...8k a year.... run some money through girl friends name your Childs name, start a trust-fund.

Hope this helps...

 

[myniche]

Watch this video and for those in the U.S., you can ask what taxes you are obligated to pay.......

http://video.google.com/videoplay?docid=-1656880303867390173#

 

[hatdance]

Yes, China is going to own the west in 50 years. Not because we consume and spend but because the West has lost sight of the fact that the only way to create lasting wealth is to have a manufacturing infrastructure that takes raw materials and creates tangible products. Our shift to a primarily service oriented economy has doomed us to failure.


-SDT

Not to mention a service-oriented country that out sources our services so that previously salaried people no longer have money to spend...

 

[WebmasterDeluxe]

By voting out the STUPID communist that raise taxes on everything they possibly can....then spend more, just to come back to raise taxes again.

If you're in the US, get ready to be REEMED by taxes.

 

[FrozenSpade]

luckily i am not from the us

 

[dvdvids]

What taxes???

 

[Hierarchy]

just write it off

 

[scubasteve]

When I lived in the states, I used to be completely against paying taxes. Ever since moving to Costa Rica 6 years ago, I fully see the necessity in paying taxes, and I now hav zero issues paying them.

Imagine living in a place where you have perfect roads, cheap cars, retail goods, food, rapid emergency, police, fire department service, fast internet at cheap prices, etc. That place is the United States. Taxes pay for a lot of those things.

 

[rocket]

i've got my own methods, but LLC is a great start.

for instance, did you know you can give yourself up to a $1500 gift for anything like "being with the company for a year and not getting hurt" or any award you want? And write that $1500 off! Give yourself a flatscreen plasma just for the fun of it!

Also, write off every last nickel - groceries for stocking the "company kitchen", gym member ship for the "company wellness program", dinners, auto, etc. If you are home based write off rent, home owners insurance, party expenses, etc..

DEDUCTIONS + GOOD ACCOUNTANT = MORE MONEY FOR YOU


**BE CREATIVE JUST LIKE YOU ARE WITH IM**

 

[relicon]

i don't pay at all because i transfer payments to the other foreign countries

 

[ghettogong]

i don't pay at all because i transfer payments to the other foreign countries

Hey relicon, can u explain a bit more? I am also wanting to transfer money to a bank account/paypal other then in my own country.

So i can create expenses what will be used as tax write off and thus lowering my taxable income. But the money I will be sending I have to create something were it still remains in my possesion.
Posted via Mobile Device

 

[ExtraWinner]

Why you guys pay taxes?

Please let me understand why somebody is willing to pay taxes from online business that is in most cases impossible to track?

Looking realy for answer to this...

 

[ghettogong]

Why you guys pay taxes?

Please let me understand why somebody is willing to pay taxes from online business that is in most cases impossible to track?

Looking realy for answer to this...

If you receive money it means you have income. And money from income is what sustains the economy of a country.

Your tax department will check each incoming transaction where it came from.

If i send you money now, the tax people will ask you: "why did you get this money"
Posted via Mobile Device

 

[ExtraWinner]

Well depends on country... In Ireland they dont give a sh*t about money transfers unless they are like more than 10K in one transaction...

I never heard of person being asked by Tax Office in IE or GB about - where are your money from? - if they manage to keep resonable...

On the end you are paying taxes anyways in VAT etc....

 

[paincake]

If anyone is in NYC, I use an excellent corporate accountant; been working with him for years; last year I made well over $95K for my IM (LLC) and I didn't pay a dime. He is very good, he knows what to deduct and how much so as to not bring in too much attention. Of course, that 0% tax wasn't every year, you have to show some profit to the IRS but it is 'ok' to show small profit 1-2 years of every 5 years.

Can you elaborate please? I'm very intrigued.