Legal Investments Where The IRS Cannot See?
I am handicapped and on a disability pension. I do not wish to be on this forever as I hate depending on the gov for funds. So i’d like to invest now since i am young but as it turns out I am not allowed to own more than 2k of any investments or they cut me.. which is hardly a strong foundation to survive on the profits of. =(
I’ve been studying different markets; stocks, realestate, bonds, tax liens but it seems the IRS would always know what i’m doing even if i didn’t report. And I dont really want to do anything illegal but I also do not want them in my business if i can invest in territory that they have no control over.
So i thought that they couldn’t possibly watch over everything..
Yes, I know i’m really suppose to report every little dime I earn from anything and everything, from any location but I look at it as a don’t-ask-don’t-tell.
The only thing i can think of is maybe some stock markets in other places of the world have markets in countries that dont report?
Like this post? Subscribe to my RSS feed and get loads more!
One comment
muncie birder on July 15, 2009 at 8:53 pm
there are certain devious ways around the IRS. The main one that come into mind is owning a cash only business. Bars are one of the most popular of these types of businesses and therefore extremely popular. There is only one way to verify a cash only business. That is to look at the books and back track through the source of supplies the amount of beer, etc being purchased and then extrapolating foreward to determine the revenue generated. Very difficult to do but not impossible.
You must be logged in to post a comment.