Posted on 02/15/2009 11:52:47 AM PST by Mad Dawgg
This Thread is to bring together Freepers to institute a legal way to Starve the US government of our Tax Dollars. Please add any and all suggestions to this thread for legal ways to STARVE THE BEAST!
Spread the Word to your Non-Freeper Friends. Show people how to keep more of their hard earned money and get more back from Uncle Obama.
OK so here goes:
So you feel like its all hopeless. You feel the inmates are in charge of the asylum.
Yeah its bad BUT there is something we can all do. AND it benefits yourself WHILE putting it to the looters in Washington.
First understand that the engine that drives Liberalism/ Socialism is taxpayer money. Without it they can't do all the crap they wish to.
So the first thing to do is strangle the dollars going to Washington on a weekly basis.
How you ask? Its simple really. Contact your employer and change your withholding on your W-2 Forms. Claim more dependents. This takes less out of your paycheck to send to Washington. (I suggest you claim one or two more than you actually have.)
Take that extra money per pay period and put it in a local bank in a Savings or Money Market account.
If at Tax Time you then owe some back you have it in your savings and you have made money on it rather than giving Uncle Sam a tax free loan on your money.
The next thing you can do is turn a hobby or interest into a legal side business and use it for more tax deductions. (Contact your accountant on the particulars on how to legally do such)
One of the benefits of turning a hobby into a side business is you can take a holiday vacation and legally turn most of it into a tax deduction.
I quit smoking about eight years ago. Knowing what I paid for a pack of cigs then and how much the taxes have increased since then, I’m very glad I did.
I smoke - I finally convinced my daughter and son-in-law to quit (smoke free for 3 years). I played on every low down trick and sympathy in the book and reminded them about what they’d have to confront with their three daughters. Me, I’m hoping I cost the new O’ministration healthcare system a shitload in treatment costs.
That is so true. Most of us would like to think that the objective of the Tax system is to raise funds for the operation of Gov’t. I think that is an objective but it is secondary to that of manipulating our behavior and enslaving us to the system by imposing the requirement to comply with this broken system.
I was talking to a friend the other day about this. After looking at the Stimulus Bill I had to ask them to name one facet of our lives that is not indirectly or directly impacted/controlled by some level of Gov’t. They had an awakening at that moment since virtually every aspect of our life is controlled by the power hungry Politicians (of both Parties BTW).
The Tax mechanism is probably the most pervasive invasion of our freedoms there is. Virtually every aspect of our lives is either reinforced or, more likely, deterred, by the artful use of the Tax mechanism to either reward or punish behavior.
In the process the Gov’t nor only manipulates our behavior, it also imposes a tremendous burden on us in complying with all of these arbitrary regulations.
/vent!
No Problem, the nice thing about a movement such as this is that if you don't believe in it you don't have to participate in any way.
Good Luck to you!
Yes I do have one. It works quite well and has all the bells and whistles included.
“Your idea, while it sounds O.K. is illegal, the Gov has already taken care of that ploy, and has made it illegal to overclaim dependents. Check with your tax preparer.”
I haven’t been a w-2 employee for 7 years, but my recollection is that you have the idea mixed up. It is illegal to overclaim dependents on your tax return.
However, for the deduction number you give your employer, you do a worksheet. The worksheet gives you a final number and that is what the employer uses to figure out your withholding. The worksheet itself is not something you file. Furthermore, the number your provide has no bearing on your actual tax burden. It just changes your withholding amount.
Most people should adjust their deduction number anyway, and don’t. If you have a mortgage, kids, etc.
My idea is that those of us who file quarterlies should severely underestimate our income and send very low amounts. The penalties are very small compared to the money you get to hang on to while you wait for April 15.
The last idea in the write-up is good and bad. Yes, a s-corp can give you more deductions. At some point you have to show some income or you will be naked to an audit. Also, there is a lot of chatter that the lawmakers want to make all dividends taxable as wages for service based s-corps. Doctors, lawyers, IT, accountants, etc... we’ll all have to grease up.
Anyone have a Ping list that would fit this thread/ Maybe something Like Galt’s Gulch or Atlas Shrugs?
Avoid unionizing your business by “Adopting” employees
as owners.
I really don’t know anyone on here personally (although I’d love to), but I’m sure someone will run across this thread and start pinging people.
givemeliberty.org/
Don’t give to United Way, Habitat for Humanity...give to conservative Churches and MILITARY groups who get money directly to those fighting for our freedoms!
I was just recomending that you look at alternative ways to avoid this tax since Schips (ms?) is going to be paid for by yall.I understand you weren't telling anyone to stop. I was just pointing out that you provided a good incentive for someone to make that decision.
The insurance program is S-CHIP (State Child Health Insurance Program), I believe.
IMO it's healthier and cheapier all around.
“And don’t get a Roth IRA, where you pay taxes going in, even if your tax bracket is low.”
My mom is a CPA and claims the Roth is the biggest government scam she can remember. Her logic is as follows:
1 - A bunch of dummies converted IRA to Roth IRA and incurred a huge tax burden, boosting the overall government revenue.
2 - The gov’t never leaves rules alone and she believes they will means test the “tax free” part on the backend.
3 - MOST IMPORTANT. Most people have a much higher tax bracket during their savings years than during their retirement. So, you being taxed more now on your principal (Roth) than you would be later on your compound interest (normal IRA). The overall power of the extra principal wields it’s mathematical edge very quickly for normal IRAs.
It may not work on the bubble creators, but it will work on state/local gov!
I have always been leery of Government Approved/Sponsored Tax Savings plans for Financial Investing. What can be given can be whisked away with the stroke of a Pen.
401k
“IF” you have any thing LEFT in it????????
Use pay as you go credit cards that get sold in convenience stores. Buy them with cash and they can’t be tracked. On line merchants will ship to any name at your address.
I used one of those savings plans for medical issues. The rules were that I had to spend it all by the end of the year or lose my money. It worked well until I quit my job. I didn’t know that I could not use it after the day I resigned or I would have went on a medical spending spree. I ended up losing over 500 dollars. I won’t touch them now.
Yes they can be tracked. You have to submit your information before you get your card in the mail.
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