America: Starting with Daily Intelligence
Chapter 170 - 133 Reasonable Tax Avoidance

Chapter 170: Chapter 133 Reasonable Tax Avoidance

"How should I go about evading taxes in a lawful way? To avoid paying the IRS?"

Allen Zhang asked.

Dave paused for a moment, "Young man, that’s a dangerous thought!

But, you’ve asked the right person.

Indeed, there are many ways.

He said subtly: "If you don’t have assets over a hundred million, I wouldn’t suggest you go the route of lawful tax evasion. Actually, it is very simple to not pay this amount, you just need to change the concept, you know people from charity organizations right? Rena works at a shelter, you just need to donate your pre-tax income to a charity that meets IRS requirements, then use internal staff to cook the books, open another savings card, and all your future expenditures use that card under the pretense of charity, the items you buy won’t be under your name, transferring money from left hand to right hand allows you to lawfully evade taxes."

"If the amount is small, a few hundred thousand or million, you can also use virtual coins like USTD for transactions, Jennifer’s earned money has never been taxed, since it’s not settled in US dollars, and as long as you don’t exchange them into US dollars, there are no transaction records, the virtual market’s Ethereum, Dogecoin, Bitcoin and other virtual prices fluctuate, also it won’t affect Tether (USTD)."

Allen Zhang suddenly understood, and decided to set up a virtual coin account when he got a chance.

He also sent a message to Rena.

Allen Zhang: I want to donate some money to the shelter in the name of our team.

Rena: Are you out of your mind? Allen? You can’t even support yourself, and you want to donate? How much are you planning to donate to the charity?

Allen Zhang: $12,000.

Rena: $12,000? Are you sure? You must not really want to donate, you’re trying to evade taxes, aren’t you!

Just as expected, you guessed it right away.

Allen Zhang: Correct.

Rena quickly understood his approach and agreed to accept his donation.

She asked him to come to the shelter in the afternoon to discuss the details.

These days, many wealthy people rack their brains to evade taxes, other than having many children and raising them, the simplest way is through charitable donations.

Since she started working at the shelter, Rena herself has hardly ever paid much tax, and she converts the salary she receives into donations through another method to the charity organization, then spends using the staff account, and there are also many benefits and discounts for buying cars and houses.

Allen Zhang and Rena scheduled a time.

It was afternoon, Dave had work to do at the court, after a brief conversation they went their separate ways.

Sieg drove Allen Zhang to the entrance of the shelter, Allen asked him to check on the situation in the cabins in the suburbs, to supervise if Feis and others were slacking off, and whether they had refined any gold.

After sending off Sieg, Allen Zhang confidently entered the shelter’s lobby, and saw Rena at work along with the supervisor, Cooper.

Cooper, noticing this familiar person, warmly greeted him.

"Hey! Hanberger, or should I say, Li, you’re here?" Cooper cheerfully patted his shoulder, "Rena has already told me about your idea, charitable donation? Pretty good, please come with me."

He gestured for Allen Zhang to follow him upstairs for a talk.

"Considering we all know each other, and last time you helped us solve a big problem, I can register you directly for an on-staff position, just to hang in the security room, the position is still a security personnel, to apply for an internal staff bank card for you, that way you’ll be our internal staff, enjoying the substantial tax benefits, no need to use Rena’s account," Supervisor Cooper got straight to the point.

Honestly, these benefits seemed too good, it was easy to suspect there was some ulterior motive.

Might as well ask straight up, "I don’t quite understand, just having my name at the shelter means I don’t have to pay taxes?"

"You don’t need to ask too much, every employee here has tax deductible quotas, you’re a friend of Rena’s, you just need to trust me, it’s definitely correct."

Cooper said, "Actually, the reason is quite simple, the shelter has a quota for recruitment, every additional employee allows me to request more welfare funds from above, but I won’t give this money to you, nor will I pay you a salary, understand?"

"If there are any issues with the security work, some situations that are inconvenient for us to handle, you’ll also be responsible to solve them, this benefits all of us. Besides using your salary for tax offsets, you can also make additional donations, designated directly to your own account."

That makes sense to me now.

As long as it meant transferring money from left hand to right hand to lawfully evade taxes, Allen Zhang had no reason not to agree.

"I won’t engage in illegal activities."

"We don’t do illegal activities, we just exploit legal bugs, and if a situation like the last time arises, you’ll need to resolve it. Actually, the reason why I wanted to collaborate with you is because I see potential in you. Lately, you’ve been making quite a stir in the Fifth District, a lot of homeless have mentioned your name."

Cooper took out two beverages from the fridge, handed one to Allen Zhang, opened another one for himself, and took a big gulp, smiling and said, "Your influence around here has exceeded my expectations, is this street under your responsibility now?"

"Not yet, this side is a welfare resource zone, many homeless gather here, you can think of it as a Neutral Zone in a game." Allen explained the street division and resources briefly.