Chimmy1990
Junior Member
- Mar 24, 2018
- 199
- 157
if you don't know how it's done, pay someone good to do it for you. A CPA! othewise trying to avoid the IRS, is akin to always having to look over your shoulder
how do you guys avoid an audit from the IRS?
- Thread starter R1ckS4nch3z
- Start date
- Oct 25, 2018
- 2,241
- 9,567
I don't think so. When you've been a tax resident of another country and have filed your income there either by paying tax or just being in a tax free country, that income is considered already taxed. You don't have to pay tax on that when you take it back to your home country because that would count as double taxation and most countries these days have double taxation treaty with each other.
There can still be countries that tax you again but I'm sure double taxation is rare these days.
- Nov 22, 2019
- 6,959
- 1,681
Do not take shortcuts, pay full taxes and live happily.
mindmaster
Elite Member
- Sep 16, 2010
- 5,671
- 3,112
selmankaan1
Banned - Selling via PM
- Nov 8, 2021
- 99
- 61
Use crypto 
moonshine7000
Elite Member
- Mar 4, 2013
- 4,369
- 4,000
If you buying real estate with the loan the rental income will help pay for the debt.Interest is tax deductible.Appreciation is a bonus
moonshine7000
Elite Member
- Mar 4, 2013
- 4,369
- 4,000
In america there is tax write off called depreciation against your rental income because buildings wear and tear
- Mar 10, 2010
- 42,695
- 107,109
One of my favorite members.
- Mar 10, 2010
- 42,695
- 107,109
They work very well for some of us that know how to use them.
Nonetheless, trying to game the IRS is like trying to game the sunrise or the sunset... those are constant and are going to do what they do no matter how smart you think you are.
fd55
Regular Member
- Oct 24, 2016
- 348
- 152
It's not worth it unless you have millions, and if you did, the opportunities and resources would have made itself apparent. If it's hundreds of thousand, hire someone to find tax savings for you otherwise, all these other schemes are probably going to cost more / create more problems than what you would pay in taxes, unless you plan on buying specific assets anyways, like a house as mentioned. But only goes so far unless you're buying the property and hold title in a certain way, and file a certain way etc.
In any case, talk to a CPA. Would you take SEO advice from your mom? Talk to someone that's an expert in the field.
In any case, talk to a CPA. Would you take SEO advice from your mom? Talk to someone that's an expert in the field.
German Rodriguez
Elite Member
- Jun 20, 2016
- 2,391
- 1,026
if you live in US just pay the taxes, IRS is someone you don't mess with
moonshine7000
Elite Member
- Mar 4, 2013
- 4,369
- 4,000
Move to puerto rico if you are a US citizen.Peter Schiff the gold shill and bitcoin hater lives there.
- Mar 10, 2010
- 42,695
- 107,109
I don't pay my CPA that much though and I do not think most others do as well.
- Mar 10, 2010
- 42,695
- 107,109
I get what I pay for and am happy with that.
I'm in the US and know how to integrate myself in the communities that make a difference in our life and that pricing is certainly reasonable but more certainly negotiationed to something more reasonable.
fd55
Regular Member
- Oct 24, 2016
- 348
- 152
I pay mine with a bottle of whiskey.... I hope I'm getting my money's worth...
But it's not so much as how much money you "have" but rather how complicated your tax structure will be (do you have a lot of assets, holdings, dependents, etc.)
D
Deleted member 1416715
Guest
You need to talk to an accountant, that's 100% not true
- Oct 6, 2020
- 2,626
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