What legal steps you can take to reduce your taxes?

[jimmyle]

Here are what I am doing right now:

1. Max out on 401K contribution. But no contribution to Roth IRA because I need to save cash for buying a house in the near future.
2. Buy online (ebay, craiglist where you don’t have to pay taxes) whenever I can.

What other action can I take?

[DataAgent]

1. Have a non-working spouse start a home-based business. Most businesses show taxable losses the first few years.
2. Buy a rental property. Even if you break-even with your cash flow, you can still depreciate the property creating a taxable loss.

[DataAgent]

1. Have a non-working spouse start a home-based business. Most businesses show taxable losses the first few years.
2. Buy a rental property. Even if you break-even with your cash flow, you can still depreciate the property creating a taxable loss.

[DataAgent]

1. Have a non-working spouse start a home-based business. Most businesses show taxable losses the first few years.
2. Buy a rental property. Even if you break-even with your cash flow, you can still depreciate the property creating a taxable loss.

[DataAgent]

1. Have a non-working spouse start a home-based business. Most businesses show taxable losses the first few years.
2. Buy a rental property. Even if you break-even with your cash flow, you can still depreciate the property creating a taxable loss.

[DataAgent]

1. Have a non-working spouse start a home-based business. Most businesses show taxable losses the first few years.
2. Buy a rental property. Even if you break-even with your cash flow, you can still depreciate the property creating a taxable loss.

[Noob]

In order to reduce:

[Noob]

In order to reduce:

Income taxes, make less money.

Real Estate taxes, own cheaper property.

Use taxes, use less.

Sales taxes, consume less.

Sin taxes, sin less fequently.

Less is more.

[Noob]

In order to reduce:

Income taxes, make less money.

Real Estate taxes, own cheaper property.

Use taxes, use less.

Sales taxes, consume less.

Sin taxes, sin less fequently.

Less is more.

[Noob]

In order to reduce:

Income taxes, make less money.

Real Estate taxes, own cheaper property.

Use taxes, use less.

Sales taxes, consume less.

Sin taxes, sin less fequently.

Less is more.

[Noob]

In order to reduce:

Income taxes, make less money.

Real Estate taxes, own cheaper property.

Use taxes, use less.

Sales taxes, consume less.

Sin taxes, sin less fequently.

Less is more.

[Coronita]

#2 you suggested (buying online without paying taxes) is technically not legal.

[Coronita]

#2 you suggested (buying online without paying taxes) is technically not legal.

[Coronita]

#2 you suggested (buying online without paying taxes) is technically not legal.

[Coronita]

#2 you suggested (buying online without paying taxes) is technically not legal.

[Author]

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