How to hide your taxes from thetaxmen notes1. Take advantage of corporation-only tax benefits likeAppleThe Everyman Solution: Small-business owners and individual contractors can often take advantage ofspecial tax laws for corporations. For example, tax rates on corporate earnings are generally lower thanpersonal-income rates, and business-related expenses can be written off. In addition, keep an eye on thedifferences between U.S. law and laws in other nations. Finding a loophole can help you save a substantialamount of money through completely legal means.2. Give back.Donations are tax-deductible, and they carry the additional incentive of giving you the warm fuzzies. Keepin mind that you’ll need to itemize your deductions to take advantage of write-offs for charitable giving,and that receipts are required to prove you actually donated what you claim. In many cases, taking thestandard deduction is a better deal than itemizing, so be sure to do your calculations.3. Tax HavenHanging onto money using the world’s many tax havens has a long and dishonorable history, with areaslike the Channel Islands’ freedom from taxes dating back as far as the Norman conquests. This trick isbased on the fairly simple idea that if taxes are high in one location, you can gain an advantage byregistering your location as being somewhere else instead.
