Comments on: 5 Infallible Ways to Lower Your Income Taxes

By: foxroswell

foxroswell — Tue, 14 Apr 2009 04:08:54 +0000

I guess OctoMom will be collecting a cool $14000 for her brood of sperm donor babies.

By: tim

tim — Wed, 12 Nov 2008 15:51:56 +0000

Jeremy already mentioned this, but it bears repeating:

THE DIRTY LITTLE SECRET THE IRS DOESN’T WANT YOU TO KNOW!
Did you know that if you don’t work, you don’t don’t have to pay any taxes? Seriously! Just don’t make any money, and the IRS will be powerless!

By: Mary@SimplyForties

Mary@SimplyForties — Tue, 11 Nov 2008 18:29:38 +0000

Don’t forget if you’re a free-lancer, go back to work for someone else, which will do away with that pesky self-employment tax!

By: Ken Montville

Ken Montville — Tue, 11 Nov 2008 02:54:10 +0000

I’m with Shadox. You don’t need to find no-name penny stocks. Heck, the blue chips are losing more than enough t be able to take the capital loss against your taxes.

By: Shadox

Shadox — Mon, 10 Nov 2008 16:48:39 +0000

Awesome advice! I’ll get started immediately. In fact, I have been doing quite an excellent job at losing money in the stock market and if the economy continues to deteriorate, there is a fair chance that I will be making less too. Looks like I’m pretty much set!

By: Nick

Nick — Mon, 10 Nov 2008 14:16:55 +0000

There’s always money in the banana stand!

By: NickFro

NickFro — Mon, 10 Nov 2008 14:07:13 +0000

Jim, you’re not supposed to drink *before* writing your posts… also, I almost spit out my coffee when I read the “kids look like little bundles of hundred dollar bills” bit. Thanks for almost destroying my keyboard.

By: George

George — Mon, 10 Nov 2008 13:54:10 +0000

Love the article, this smells of Devil’s Advocate…

By: Patrick

Patrick — Mon, 10 Nov 2008 13:34:44 +0000

HAHA. Great article Jim. My fiancee and I watch John and Kate plus 8 all the time. That show is great as they really raise their kids right. I wish I would have bought a house I couldn’t afford now so I could be bailed out by the government.

By: Jeremy

Jeremy — Mon, 10 Nov 2008 13:28:31 +0000

An even better idea is to actually get paid by the government. Just quit working and live off of the various social programs. If you’re lucky, you live near a good soup kitchen and can score some free food as well. Let all of those suckers that work and pay taxes pay you!

By: That One Caveman

That One Caveman — Mon, 10 Nov 2008 13:20:00 +0000

Popping out kids is fun, especially if you can time them to come just before the new year. That way you get to claim them for the whole tax year, but they only cost you for a few days! Just kidding, really. While both of my children have/will have December birthdays, that’s far from the reason. (Think March birthday…)

As Bender found out in a classic episode of Futurama, those little rugrats cost you far more than the government pays you to produce/procure them.

By: Frugal Dad

Frugal Dad — Mon, 10 Nov 2008 12:14:09 +0000

I missed the call to place tongue-in-cheek when reading this (it’s still early), so my initial comment was going to question your advice to earn less money and buy more house (which I thought was a recipe for financial disaster). Ha!

You do make a good point about losing money in the stock market. With the year we’ve had, it might make sense to pull some losses off the table in stocks to reduce taxable income. Especially true of stocks you don’t have much faith in bouncing back any time soon.