Anybody watch NewsHour Tax evasion (legal) techniques???

[LittleApple81]

I guess all of us should declare ourselves as businesses abroad, or maybe we could "sell" our salaries to a bank and then "rent" them so that we can "depreciate" them and not pay taxes... wait, salaried taxpayers are THE taxpayers..

[Wwagsthedog]

1. Check out the book "Perfectly Legal...."...

... by David Cay Johnston. He does a good job of explaining how most of us are the victims of a "feed the rich" system which is getting worse with every tax cut. It isn't a book to read before you go to bed.

[LittleApple81]

2. No, I don't wanna. Unless I could do something about it.... n/t

[papau]

3. I agree - he misses a few packaging frauds - but covers most.

I do like the $2 million and $3 million fees the accounting firms and Mutual Funds and Morgan Stanley and Insurance groups would charge - making you sign a non-disclosure - for the frauds they had invented - because they were so creative - and they were sure they had influence with the IRS such that you would not get caught - but just in case you might get caught they had lawyers that would get a more likely than not opinion into your files so no fraud penalty - and they would help with getting the IRS to accept 50 cents on each tax dollar owed!

[librechik]

4. There's an interview with David Cay Johnston in the piece

good segment for the NH

[AP]

5. That's the thing. Employees should form personal service corporations.

Of course, you'd have to contract to get all the protections employees normally get. But you could seriously lower your tax rate.

Then you could pay out the profits as dividends taxed at 15%.