Jason Voorhees
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Found them through research on reddit and other forums
1. Agricultural Tax Exemptions: you can pay lower property taxes by qualifying for agricultural exemptions in ways that stretch the rules. For example, owning a small number of livestock (like six cows or even chinchillas in the past) or selling minimal agricultural products (like $2,500 in nursery stock) to meet state requirements for tax breaks meant for farmers.
2.Gifting Assets to Avoid Capital Gains: another famous tactic you must have seen this om tiktok it involves gifting appreciated assets, like stocks, to elderly parents (e.g., $18,000 per year per parent, or $72,000 total for a married couple to two parents). When the parent passes, the assets return to you with a "step-up in basis," meaning you avoid taxes on the stock's appreciation.
3.Overvaluing Charitable Donations: Another hack I have seen is to have a cheap item, like a painting, appraised at an inflated value (e.g., $10,000-$80,000) and donate it to a nonprofit for a tax deduction. Similarly, donating a car and claiming a value just under $5,000 is to avoid IRS scrutiny.
4.Setting Up a Church: many people also establish a "church" to gain tax-exempt status. It allows you to write off personal expenses like vacation homes as church related.
There are more sketichier and boderline criminal tactics I also found that could make a seperate thread on but those are catered for thr rich and involve creating shell companies and shifting capitals out of thr countries
1. Agricultural Tax Exemptions: you can pay lower property taxes by qualifying for agricultural exemptions in ways that stretch the rules. For example, owning a small number of livestock (like six cows or even chinchillas in the past) or selling minimal agricultural products (like $2,500 in nursery stock) to meet state requirements for tax breaks meant for farmers.
2.Gifting Assets to Avoid Capital Gains: another famous tactic you must have seen this om tiktok it involves gifting appreciated assets, like stocks, to elderly parents (e.g., $18,000 per year per parent, or $72,000 total for a married couple to two parents). When the parent passes, the assets return to you with a "step-up in basis," meaning you avoid taxes on the stock's appreciation.
3.Overvaluing Charitable Donations: Another hack I have seen is to have a cheap item, like a painting, appraised at an inflated value (e.g., $10,000-$80,000) and donate it to a nonprofit for a tax deduction. Similarly, donating a car and claiming a value just under $5,000 is to avoid IRS scrutiny.
4.Setting Up a Church: many people also establish a "church" to gain tax-exempt status. It allows you to write off personal expenses like vacation homes as church related.
There are more sketichier and boderline criminal tactics I also found that could make a seperate thread on but those are catered for thr rich and involve creating shell companies and shifting capitals out of thr countries
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