35% is for max rate their todd, with tax credits and tax deductions, if your a student or not/ etc all apply to tax rate
and i total agree with you on the get best tax lawyer you can.
but at the end of a day , if say someone won 100m cash in a large jackpot
if said person don't give a <snip> about donating money away , a winfall the irs wants it all.
but before i posted this, i Had restudy ways to tax "avoid" to point out some stuff i already knew and would like to share/reshare
here are ways rich flat out play dodgeball with irs.
they use the potential of your spouse’s offshore status. to hold offshore profits. aka married someone who does not play irs for their profits oversea's
moved their band’s income to another offshore holding company in Netherlands to wallow in the happiness of tax free loyalties
what's really intresting is how the billionaires do it
1 must of their income is from dividends so their rate for 2010 would of been 15% , and not 35% max tax the rich people thinking
so when their tax rate in 15-20% area, its the dividends that lowered it to that amount people. the max tax rate sure is 35% on income if you file, but their so many ways to sidestep that its a sick joke to the rich.
the number 1 way for a jackpot winner to screw the govt is to abuse the fact of Gambling lose's taken off agiant Gambling winnings they tax you on
only a major lottery winner could pull off what i have planned thro.
govt max rate for gambling is 35%, seeing as amounts are sky high for pb and mm i had to think of proven ways to screw them out of ever penny i could by their own tax code/laws
You can take a deduction up to the amount of your gambling gains. so must people can't deduct all their lose's
seeing as whoever plays pb/mm thro just won say 50m cash, this would now work in our favor, spend/bet as much as they can bet, its all game now
their also invest money while taking money in, but offset with investment costs plan.
plus if you had the brains and wanted to, just start your own company that year, that makes a bit of profit per say, yet you on propuse over spend/invest is the company that startup year
tax deduction for losses you have as result of, among other things:
- Your trade or business
- Any non-business activity you undertake "for profit," that is, to make money or produce income
Now you have set up a future income as a business, but whatever profits they made that first tax year, you get to write off sense you did it to grow/setup perfect company before showballing of profits rolls in
but my plan is much more evil :D
sense on winnings vs loss's that year
i plan to bet millions and millions on lottery games, i risk a lot, whatever i don't put in put in dividend paying stocks, and buying nice items, goes to playing the lottery that remaining tax year.
if i win a other big amount, woot , if i lose, o will its just a write. charity, i got a charity, its called your self!,
i got other plans to ofc
if i won the lottery amount in high millions , but i can't say anything sense i need to do it behind closed doors for it to be flawless victory., can't have congress do their retroactive taxes on my plans like kind folks of DC city area did to their DC lottery powerball winner, greedy people at heads of govt, can't be trusted
, their are indeed more ways then 1 to skin the cat per say. so get best tax lawyer you can find, and beat the living crap out of ever loophole they put in their tax code!
their job is to be evil and steal ever penny they can for us, our job is keep ever penny we can for Our money.
so ya, tod right, a dumb lottery winner thro will pay 35% on a mm/pb largejackpot thro is my point , even that lottery changed my life show, did a story of a florida couple , thinking it was only paid 25%, buyed a house and a truck, moved up to tn, then got hit with that added tax bill come tax day., above the 25% they withholded already , and was in shock as no one told them they owned more then 25% the lottery withholded, LOL, dumbies don't see it coming, or learn how to avoid that high rate area . so person by person thing.
and remb, a none profit or other like entity can claim the jackpot in must states tax free, no withholding,
, and will, the irs would not be happy folk. even more so if they happy to be a overseas charity that has a usa base also
, Oh , o ya i just given you a hint to must evil plot ever. world wide charity, claims in usa, sends the money over seas, to a more"friendly" charity nation their in also , that nation just so happens to have no rules per say of what their chairty does with the cash. their ceo's over in that nation can be making hell 90% of money even, lets put it this way, it takes a evil genius to notice the bs their getting away with
, i know cease i have studyed flat out overseas charity waste, the irs won't tax a penny here, allows large charity's here based in many nations, to send money to their sister charity per say in other nation, google wasteful oversea's charity , and prepare to be dumb founded at in your face wasteful spending, if you think govt bad with money, you should see these people in action