Seeing how well my latest income tax tips (here, here and here) have gone over, I figure I would link to some of my older articles on blogging and income tax. Back in July, I did an entire series on how to avoid income tax. That series got a huge reaction as well, with some people saying what I wrote about was illegal. I can assure you it’s not. Tax avoidance is not illegal, tax evasion is. For those readers who were not around in July, you’ll find the following posts to be worth reading.
In this opener, I talk about the number 1 way to avoid income tax and that is not to make income. How do you live with no income? Read the post to find out. You’ll be amazed at how well you can live without income.
In part two, I gave three examples on how someone can earn from $30,000 to unlimited each year and pay zero taxes. The income earners profiled were the principal resident flipper, the dividend earner and the perpetual traveler.
In the final part of the series I show how setting up an International Business Company in an offshore district can reduce your tax to zero. I also explain how multinational companies use their offshore subsidiaries to effectively reduce their corporate income tax to 3%.
Those of you who already read My Blog Business Structure will know how I do this. However, the article is still worth a read because I go into another benefit of owning a corp and that is making $750,000 of tax-free capital gain.
Remember, it’s not how much you make, it’s how much you keep!