# Tax dodging for dummies



## Metairie Road (Apr 30, 2014)

Of course I mean completely legally within current US tax law. I don't want to end up in prison. Ethicality is not a consideration however, so I'm open to any suggestions.

How can I exploit the holes in the system for my own financial benefit?

All I will say about my financial situation is that it is not below the Federally defined poverty level - but not much above it either!

'Consult a tax specialist' is not an acceptable answer.

Best wishes
Metairie Road


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## SixFootScowl (Oct 17, 2011)

There are a lot of complex factors. One thing is you can put money in a traditional IRA to shelter it from taxes until you take it out which will not be until you are 59.5 years old (so a Google search says). There may be other conditions, such as Roth IRA has to be in the ROTH 5 years before you can pull earnings out.


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## Guest (May 26, 2018)

Spend as little as possible to avoid indirect taxes. Earn as little as possible to avoid direct tax.


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## EddieRUKiddingVarese (Jan 8, 2013)

Move to a tax haven or a 3rd world country


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## joen_cph (Jan 17, 2010)

Actually, the primary problem is your income.


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## CnC Bartok (Jun 5, 2017)

Pay the tax as you are placing the bet. This way you are guaranteed to make a shedload of money (with the minor proviso that your chosen horsey wins the race)


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## SixFootScowl (Oct 17, 2011)

Another option is to get a government job. Then you are paying yourself, sort of, when you pay taxes. If that would make you feel any better about it.


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## EddieRUKiddingVarese (Jan 8, 2013)

Raid the government treasury, on the plus side you pay no tax for that. 
On the negative side you get free board and accommodation if it does not go as hoped. 

So its a win/win foolproof plan really.................


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## Krummhorn (Feb 18, 2007)

If you are in the USA, an option is to take out an annuity account. An _annuity_ is a long term investment that is issued by an insurance company designed to help protect you from the risk of outliving your income.

Distributions do not take place until the year one turns 70½.


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## bharbeke (Mar 4, 2013)

Definitely check if LA offers any state tax credits for payments you would be likely to make anyway.

If you're in that middle range between poverty and wealth, there's not a lot you can do to change your tax outcome. You can double check that you are taking all of the 1040 page 1 deductions you are entitled to.


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