Apparently there are people getting away with it, the second link is pure comedy http://www.paynoincometax.com/ http://paynoincometax.com/pdf/irwins_2004_zero_return.pdf
There are thousands of people not paying taxes or filing... but your right it doesn't always go well for them... cj...
I don't think most of those people are making in excess of 1 million a year, as it seems that this guy was. ($300,000.00 tax bill) Most people who don't pay taxes slide under the radar.
According to frequently quoted statistics, 95% of all traders outsmart the IRS simply by being a net loser...
How ingenious, "keep from paying taxes by being a "net loser". I feel like an idiot. Every year, I paid my taxes and all the while you "net losers" were living in gorgeous split level dumpsters in alleys behind fast food restaurants all over the country. If only I had known. Congratulations Steve
hmmm... corporations only pay taxes on what's left after expenses. This includes: - autos (insurance, operating costs, maintenance, repairs) - depreciation of autos, buildings, assets - costs-of-operations: classes & training, phones, meals, R&D, phones, travel, hotels, conventions & seminars, hookers, etc. - salaries of officers, employees, outside contractors Gee... I only get paid below poverty-level from my corporation and I have no taxes. And the corporation, wow, it had no money left over after all those expenses... it pays no taxes either... BTW - did you know that a portion of gambling losses in Vegas are tax-deductible???
I understood it to be only if you have winnings...hey! can you carry the losses over from previous years? Can Retail Spot Forex trading in its secondary market, be considered gambling in this case? I can make it look very legite on a tax return BTW - did you know that a portion of gambling losses in Vegas are tax-deductible???