ha ha. what a fucking bozo

Wow how do you sleep at night jeez!

DH

oh jesus

Bad idea and very shortsighted, and here's why: Let's say a few years from now you are in a situation where you need a large loan or you want to buy a house. You go to your bank and the first thing they want from you is your income tax information for the past two or possibly even three years. This is obviously a situation where the more income you have to show them the better... But oops, you've been declaring only a fraction of your true income for the last few years. Instead of showing $50K/year you only claimed $25K. Or maybe you made $100K but only declared $40K.

The bank is going to take one look at that and tell you to take a hike on the $50K you want to borrow. They'll tell you access denied on the $200K mortgage you want.


Bottom line: it's always best to treat this business LIKE a business. Declare everything, always. Keep receipts to show for all your deductions, and either learn to find and take advantage of every deduction you're entitled to legally, or HIRE someone good with taxes and numbers who can do it for you.

The better way to go also is to find and hire a good investment broker, one who knows some good legal strategies for sheltering your savings from taxes while maximizing your ROI.


Your advice on "padding" the books is, well, for want of a better term... very ill-advised. I was going to say 'retarded' but it being so close to Christmas I suppose a modicum of tact is called for.

Not the best sometimes. But its not due to anything mentioned in this thread. Its due to my semi-insomnia. Without that, I'd sleep very well.

which is why he always laughs at you.

:1orglaugh

This looks like a page 2 candidate.

While I can't agree with all of that, I will be the first to advice everyone to be as creative as possible to legally reduce your tax burden. There is no reason to pay them a cent more than you have to, and there are LOTS of legal ways to reduce what you owe them, if you have to pay anything at all.

50 tax scammers

longest post, EVER

Bump for the tax evading thief scumbag.

You obviously have never heard of: "No Income Verification Mortgages".

In Florida we have them and I am sure they are available throughout the country... They are designed for people who are "off the grid". You have to have superior credit (800+) and a relationship with the bank helps.

Check it out and note how much can be borrowed...

http://www.suntrustmortgage.com/noincome.asp

Spike Lee
 

Isn't that Spike Lee?

Great I will ask Clickcash if they can start breaking my payment up into several checks so i dont trigger that one every week :upsidedow

bump for a scumbag thief

sounds like you told people what to do in your first posting so i don't really think the IRS will buy it as a detection guide :winkwink:

I speak from the Canadian perspective in my last post. Banks here want to know that you will be able to handle the mortgage payments along with all the other expenses that owning a home brings. If your declared income can't back that up then your chances of getting a mortgage here is slim to none.

But no matter, NIVM or not, I still say most if not ALL banks no matter where they are prefer it if you actually have an income that shows you can support a certain debt load rather than underwrite someone for a $250K mortgage whose income tax returns for the past several years shows then as living near the poverty line.


I have no doubt that going with minusonebit's advice of padding your expenses and failing to declare all of your income will eventually catch up with and bite in the ass anyone who takes that advice. Period.