Re: I DO NOT WANT TO PAY TAXES... HOW DO I REDUCE THEM
 

aww, still bitter, are we? Well you should be.

Re: I DO NOT WANT TO PAY TAXES... HOW DO I REDUCE THEM
 

Part of me is silently rooting for you to be audited and to have your post above be admitted into evidence by the IRS when they make their case that you knowingly evaded the tax law. Pay your effing taxes bud.

Re: I DO NOT WANT TO PAY TAXES... HOW DO I REDUCE THEM
 

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YSSCKY

Problem solved.

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then his money will get inheirited, more taxes




cactus: can you try withdrawing only with the neteller ATM/debit card and see if it works and if you can go without declaring it? i'd like to know. k thnx

Hijack
 

Ok i dont like to hijack threads but this one doesnt seem to be going anywhere. IM just curious if anyone knows how i can estimate my taxes. Ive used the h@r block calculator but im not sure how to calculate state taxes. Anyone know?

Re: I DO NOT WANT TO PAY TAXES... HOW DO I REDUCE THEM
 

Hire an awesome CPA...you can write off a crap load of stuff...part of your rent/mortage, books, computers, dsl line..etc.

If u want to pay less taxes, live outside the US for at least 180-200 days (something like that)...because u can pay a fraction of what u would inside the US (see Tstones thread in this forum about living abroad and taxes).

Also Ive heard good things about this book (but I cant vouche for it...havent read it, imo a good cpa is the way to go):

http://images.amazon.com/images/P/08...CLZZZZZZZ_.jpg



PS: also wtf is with ppl swinging from the governements cock about taxes. OMG this guy wants to find a way to not pay anything he doesnt have to. That should be the goal of everyone. imo. PPl need to relax.

Re: I DO NOT WANT TO PAY TAXES... HOW DO I REDUCE THEM
 

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Part of me is silently rooting for you to be audited and to have your post above be admitted into evidence by the IRS when they make their case that you knowingly evaded the tax law. Pay your effing taxes bud.

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And guess what? It will.

OP: I'm an attorney. Not a tax attorney, but an attorney just the same. I was really hoping that discussions like this would stop because of Ed Miller's recent articles in the 2+2 Magazine, but apparently, they haven't.

You should read the article, paying particular attention to the part where he says something to the effect of, "if someone from the IRS reads your post, 2+2 is going to get a subpoena from the federal government to help them figure out who you are."

Guess what happens after that? You're screwed. Don't steal from the biggest theives in the world. They hate competition.

You're also an idiot for discussing this on the internet.

Re: I DO NOT WANT TO PAY TAXES... HOW DO I REDUCE THEM
 

FYI, Rich Dad is actually a fictional character, and most legal tax loopholes have been closed. Some ways to reduce your income tax if you file as a professional gambler:

SEP IRA - probably the best way to reduce taxes. 25% of your income up to 40K per year may be tax deferred

Gambling Expenses - ISP, magazines, software, books, etc..computer equipment if it's used primarily for online gambling

As for some less ethical ways...

Travel expenses - do you travel to play in live games? If so, the travel expenses are deductable. As long as there is a casino at your vacation destination, you may be able to get away with expensing the vecation.

Gambling losses: anything online probably has an electronic paper trail once it leaves the poker site. Even if you transfer to a bank outside the US, most countries have tax treaties with the US and will report this. Do you play in live games, or gamble at other table games? If you don't make a 10K transaction within a 24 hour period, the IRS can do little to track it. It's possible that you made a lot online, but had a bad year playing blackjack...

If you file as a professional gambler, the probability of being audited is high. It's up to you to decide if the risk of tax fraud is worth paying less income tax.

p.s. I am not a tax professional, and this is not advice.

Re: I DO NOT WANT TO PAY TAXES... HOW DO I REDUCE THEM
 

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My question is where can I find an accountant so I can start to be on the parth to become the rich dad. Suggestions/Comments

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Not sure where you're from, but in the area where I live, they call it the Phone Book or Yellow Pages.

Re: I DO NOT WANT TO PAY TAXES... HOW DO I REDUCE THEM
 

What if you just keep most of your bankroll online at a poker site. They don't report any of that stuff to the IRS, and if you get audited, you can just show them a $10,000 deposit to Party Poker that offsets most of your winnings and claim you lost it.

Can the IRS subpoena your poker site records?
I dunno -- probably.

Re: I DO NOT WANT TO PAY TAXES... HOW DO I REDUCE THEM
 

buy a bunch of rental units. deduct the interest of your mortgage and the depreciating value of the home (all homes depreciate according to the government). make money off the equity buildup and save a fortune on taxes.