Coe) fJsNOLO aw Home + other Personal Dscuctlons ane Tex Beaks How to Pay Zero Taxes Find out what it takes to be part of the Bys hen Fishman JD. Need Profes: nal Help? Talk to a Tax Attorney. Please answer a few questions to help us match yo. with attorneys in your area, Whats the type of tax owed? 1 Federal ) State Local What are your tax problems? Property Tax. © Can't pay taxes/ United taxes © Amended taxes ) Child tax credit disputes Unpaid interest ‘Assets seized ‘Wage Garnishment 2 Lien filed © Received audit notice 1 Bank account levied 3 Innocent spouse You've probably heard ab al taxes, {the famed 44% of Americans wha pay no income taxes at all, How do you jan this club? Here are several ways you can paving Have Little or No Income (One easy way to pay no income tax s to have litle or re taxable income, incomes ar too low. Asa result ofthe Tax Cuts and Jobs Act, which took effect in 2028, single taxnayers receive a stan bout halt of the Americans whe pay ne income tax rd deduction of $12,950, Personal and dependent and marred taxpayers fling jointly eceive 2 $25,900 standard deduction (2022), subjec: to annual adjustments, ‘exemptions were eliminated, I your income is below these levels, you won't have to pay any income taxAY Prine Now standard deduction, they end up with ne income subject to income tax, Indeed, because the chid tax crest and E17C are refundable, they get money back trom te IRS. Families Uke these account for ane-seventh of those wha pay no taxes, Be Retired More than one-fith of those who pay ne income taxes are retirees with relatively modest incomes, although not living in poverty, who benefit from 5 benefits ‘2x breaks for seniors, The most signi 2s the tax exomption for most Socal Secu ant exemption among thé Have Lots of Itemized Deductions ‘Texoayers with high incomes can avoid paying income taxes by having lots of mized deductions, Unfortunately as a result of the Tax Cuts and Jobs Act, temized deductions are harder to come by than in the past. They only include deduction for: + health expenses over 7.5% of adjusted gross incorne (AGI) + charitable contributions + up to $10,000 in state and local taxes age interest (subject to home loan limits + casualty and tne losses due toa federally declared disaster, and + gambling losses fup to gambling winnings) As a result of these anges, only about 11% of taxpayers wil be able to itemize instead of taking the standard deduction, Stl higher-income: ‘taxpayers who make substantial charitable contributions andlor have large uninsured health expenses can stl avoid paying income taxes. Be Super-Rich hen itis earned or Finally it is quite easy to pay no income taxes i youre extremely ich, la our tax system, money is only subject to income tax hen an assets sold at a prof. You don'shave lo pay income taxes on the appreciation af assets like realestate or stocks unt you sell Moreover. there is no tax on consumption or on borrowed money. So, the simple strategy of the super-rich isto buy assets like realestate and stocks ‘and held on to them, ant row against them when needed to nance their lifestyles. They don't have to pay any taxes at al on their borrowed 1asnt hagpened. althy, but so far, income, Some poitcians have proposed imposing assets owned by te The rich atzo avo substantia interest income from tax-free municinal bonds. They also sock money away in ind vidual paying taxes by earin rement accounts where t grows tax-free. There aren’ that many rich people, so the numberof super-wealthy taxpayers wro actually take advantage ofthese strategies is quite smal nr Talk To A Tax Attorney. PAW LIL cy on Nae aoeU pos oo Sales