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  #1  
Old 03-28-2007, 09:01 PM
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Thumbs up Do you have any tax tips this year? Share them here.

Mine are already filed. Whew.....do i need more deductions. OUCH.

http://taxes.about.com/
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Old 03-28-2007, 09:02 PM
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don't make enough money during the year to get whacked in the nuts by the AMT
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  #3  
Old 03-28-2007, 09:07 PM
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Quote:
Originally Posted by gresch
don't make enough money during the year to get whacked in the nuts by the AMT
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Old 03-28-2007, 09:10 PM
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Decuct clothing donations to a charity. Using official IRS values for used clothes, you can knock a few hundered off your tax bill pretty easy.

Use Turbo Tax. Makes it easy.

Start a business. IRS requires that you need to show a profit 2 out of the first 5 years. Be creative, and you can decuct a lot of stuff as business expenses that you have to buy anyways.

When you go on vacation, do a couple job interviews. And document them. Then your vacation is deductible as a job search.

Have 10 kids. Then they are all write-offs!!
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  #5  
Old 03-28-2007, 09:19 PM
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Offshore account!
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  #6  
Old 03-28-2007, 09:20 PM
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An even dozen is more impressive.

Quote:
Originally Posted by X5 in AK
Have 10 kids. Then they are all write-offs!!
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Old 03-28-2007, 09:21 PM
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Quote:
Originally Posted by canamx5
Offshore account!


Just curious, how does it work if you buy real estate in another country. Sell it down the line. Bring the cash back. How does the man know whether it was an investment? As far as they're concerned, would it just be cash moving from one US bank account to a foreign one?
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  #8  
Old 03-28-2007, 09:25 PM
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But seriously. All joking aside. The tax deadline is fast approaching. If you have some good tips please post them so everyone can benifit.
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  #9  
Old 03-28-2007, 09:36 PM
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Quote:
Originally Posted by vinuneuro


Just curious, how does it work if you buy real estate in another country. Sell it down the line. Bring the cash back. How does the man know whether it was an investment? As far as they're concerned, would it just be cash moving from one US bank account to a foreign one?
I don't mind paying taxes, I think it's worth it. We have it pretty good in this part of the world.
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  #10  
Old 03-28-2007, 09:37 PM
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So what's your tax tip?

Quote:
Originally Posted by canamx5
I don't mind paying taxes, I think it's worth it. We have it pretty good in this part of the world.
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