None. They don't exist, at least not legally.
The only way you can avoid income taxes is to earn less than the filing requirement amount for your filing status. For 2007, that's a measly $8,750 per year for a single taxpayer who is not the dependent of another taxpayer. Even if you earned less than that, your wages are still subject to Social Security tax withholding at 6.2% and Medicare tax withholding at 1.45%.
If you are self-employed you have to pay double the Social Security and Medicare tax that an employee pays. And you must make quarterly estimated payments to the IRS and to your state tax authorities if your state levies an income tax. Writing those checks for what can be thousands of dollars every 2 to 4 months gest old REALLY quick!
There is no legal way to avoid your tax liability.
2007-12-26 12:26:47
·
answer #1
·
answered by Bostonian In MO 7
·
2⤊
0⤋
Aside from having a job that pays a six figure salary off loading empty trucks and having two six month vacations, you would have to become self employed. One cannot avoid paying income tax, but that will at least avoid having to pay withholding tax. Even then there are still quarterly estimated taxes that would have to be paid to avoid a penalty.
2007-12-26 20:34:00
·
answer #2
·
answered by ap 1
·
0⤊
0⤋
Employers are required to withhold payroll taxes. You might avoid that by working as an independent contractor... but then you have to pay self employment tax which amounts to about the same amount except you have to deal with the paperwork.
Great idea, though.
2007-12-26 20:27:53
·
answer #3
·
answered by Anonymous
·
0⤊
1⤋
work as a contract worker and fill out a w9 and get a 1099 at the end of the year .. You will still have to pay taxes at the end of the year. OR start your own business and pay taxes at the end of the year as wel..
2007-12-26 20:32:25
·
answer #4
·
answered by wearecara 2
·
0⤊
1⤋
Nail Salons?
2007-12-26 21:36:53
·
answer #5
·
answered by Anonymous
·
0⤊
0⤋
Start your own business. You are responsible for paying your own taxes.
2007-12-26 22:53:50
·
answer #6
·
answered by InsideMan77 2
·
0⤊
0⤋