What’s the Easiest Way to Cheat on Your Taxes?

Discussion in 'Politics' started by Free Thinker, Apr 9, 2012.

  1. own a business. small business owners get all kinds if nice loopholes. from vehicles to home office to accelerated depreciation to travel. there is a long list of ways to get perks.

    So what’s the easiest way to cheat on your taxes?

    Run your own company. More specifically, as Greg Kyte, a Utah C.P.A., puts it, be the sole proprietor of a Schedule C business. Then you can buy stuff for yourself and probably write it off as a business expense. “You can look through your receipts for the year and say, ‘Here’s some stuff I bought at Home Depot,’ ” says Kyte (who, for the record, says he never does this). “The I.R.S. would have no idea if I bought that for my house or for my business.” There were more than 20 million Schedule C returns filed in 2009, with receipts of more than $1.2 trillion.

    Upstanding Schedule C filers have options, too. They can legally write off payment for office work done by family members, even if they’re in middle school. “I’ve seen people with infant children claiming that their kids are doing work,” says Howard Rosen, a St. Louis-based C.P.A. “I’m talking about a 3-year-old doing filing,” Rosen says. “He didn’t even know the alphabet.”
  2. Lucrum


    Duh! Get appointed as the Secretary of the Treasury?

    "I'll take How to elect an idiot for POTUS for $1,000 Alex"