Re: I need a plan to avoid paying taxes in full.
1. Gambling losses can only be used to offset gambling winnings.
2. Buying a home wouldn't get you a huge tax break this year.
3. You could invest in a retirement plan such as a deferred annuity. You can contribute to the annuity in a lump sum or gradually over time. All of your earnings are tax deferred until you withdraw your money, usually at retirement.
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