What are some tax saving tricks, which very few people know of?
Organisations like Apple, Google use complex tax structuring to minimize their taxes, how can an employee do such forms of tax structuring? Say like giving on paper offer as contractor and treating as employee for tax efficiency ? Or giving salary as gold/bitcoin rewards / flight tickets / paid holiday trips etc. These are some tricks people use, what are more?
Good luck with W2. You can if you are your own boss. Be a contractor.
On a side note, who is of the opinion that taxation is theft?
Not much you can do for income, really. If you have roommates on a property you mortgage you can deduct depreciation and the PITI and operating costs associated with those rents (essentially only pay taxes on the net income less your portion). That's about as good as most people are probably going to get without a second business or rental income, but I feel like tax benefits always get exaggerated
Make money outside of a w2
How is that possible except business?
Get a brokers license and invest in RE. You can earn a cash return and report losses against income because of how depreciation works.
Hang on, can I report REI losses to my W2? Is is possible?
Yup, if you're a real estate professional, which the tax courts have ruled that a broker is. But bear in mind, the maximum you'll be able to offset isn't gigantic, but it does feed into your ROI for RE.
That's it guys?
Renounce US Citizenship. That's the best trick in the book
There's an exit tax
If you're a covered expatriate only