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STEP #1 :
A - Give a gift of $24,000 to each of your children
B - Now deduct $24,000 from your taxable for each of your children
STEP #2 :
A - Set up part of your home as a business office
B - Deduct part of your home utility expenses, phone bill, internet expenses, mortgage payments, and property taxes
STEP #3 :
A - Get serious about bartering for new and used items and services
STEP #4 :
A - THE BUFFET RULE: Alternate (deductible) business lunches (and other meals) with other friendly business peeps
B - Investigate the mucho El Cheapo vehicle full replacement insurance coverage for your garaged Classic Car (or PU or SUV) from Hagarty and the other Classic Car insurance company (I forget the company name - Try GOOGLE!) that advertises on the SPEED Channel
C - Deduct all or part the expenses, maintenance, insurance, and gasoline for for some or all your motor vehicles
D - Investigate leasing business use vehicles from your brother or another close relative
STEP #4 :
A - By now you should made great friends with a great CPA and bartered their services for some of your new or used items or services
STEP #5 :
A - By now the IRS and State Revenue Department will find you are a nearly or actually non-profit tax-exempt entity
STEP #6 :
A - Apply for any and all government bailouts and/or subsides and/or rebates
STEP #7 :
A - Improvise, etc.
B - Get a job with the GSA
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in other words, just play ball with said dictator
Maybe I need a new CPA but she tells me the 24k is not deductible to the gift giver (you) but is not a taxable event to the receiver (anybody you want to give a gift to).
Anybody want to chime in on this?