Tuesday, 15 September 2009

Ask The Tight Fist: Avoiding and Evading Taxes


Dear Tight Fist,

The single biggest chunck that comes out of my paycheck every month is taxes. Instead of teaching me how to look and feel like a hungry moron riding his bike around in cheap pants with a roll of homemade sushi, how about some tax advice on how to beggar state and federal governments by setting up some offshore accounts 'n' shit?

Sincerely,

Horatio L Wigglesworth



What do I look like, an accountant? But OK Mr. Wigglesworth, I'm going to help you out anyway. First of all, with a name like 'Horatio L. Wigglesworth' I'm going to assume that you come from some snooty old money family, because only rich snobs would be audacious enough to name a child Horatio. So, being insanely rich, you should follow in the steps of Carnegie, Rockefeller, Gates, etc, and shovel your money into some 'philanthropic' trust. I'm pretty sure that all you have to do is start a foundation dedicated some amazing cause that you are ever-so-passionate about and funnel all your money into this foundation. Then just graft money from the foundation tax-free! Plus, since the general public isn't really intelligent enough to realize that the only reason you are doing this is to exploit a tax loophole, they will conveniently forget all the souls you crushed while amassing your fortune and instead remember you for the lollipops you give out to disabled children.

For instance, you could take a page from the book of those selfless angels who run IKEA. Did you know that every time you shop at IKEA all your cash goes not to evil CEOs but instead to a charity? And not just any charity, but a charity dedicated to the extremely important long-neglected cause of “innovation in the field of architectural and interior design”. And all of your IKEA shopping 'contributions' (combined with the virtually non-existent giveaways of the foundation) have made it arguably the richest foundation in the world (with around $36 billion in assets). Such saints!

A Passionate Army of Philanthropy

But what about tips for the rest of us, who are not rich enough to start phony foundations? Well, the first mistake you make is paying some 'professional' to do some data entry into tax software for you. Sure, maybe if you have three of your own businesses and twelve offshore accounts it would make sense to hire an accountant, but then you're certainly too rich to need my advice anyway. In fact, if you're truly poor you can fill out online tax returns for free and it takes like 30 minutes.

And for your tax bill itself? Well to be honest, for most of you average Joe's out there there is not too much you can do. You just need to get over it and realize that your post-tax pay is your pay and that's it.

But if that's not satisfactory, you'll have to follow the true way of The Tight Fist, who has personally not paid any taxes over the past three years. Here's my personal strategy in four easy steps:

1. Quit your lame, soulless, high-paying job.
2. Move to a country where scholarships are tax-free (such as the UK)
3. Get a scholarship and head back to school.
4. File tax returns only when W feels like sending you a check.

Too radical for you Mr. Wigglesworth? Well, if you really understood the ways of The Tight Fist you would know that slashing your paycheck by two thirds and living the frugal lifestyle is the only way to true liberation. You hear lots of people claim they are going to quit their job and move to a foreign country to work for a pittance, which would of course reduce their tax bill to zero. (Take that Uncle Sam!) But inevitably they come up with excuse after excuse and delay after delay and it never happens. Know anyone like that Mr. Wigglesworth?

---------------------------
Are you wasting your money without pause? The Tight Fist can help you. Email him at thetightfist@google.mail.com

2 comments:

  1. Set your exemptions super high so your employer hardly takes any taxes out. Invest the money that you would have paid in taxes in an interest bearing account. File an extension to give your money a few extra months to earn more interest.

    You'll pay a fat tax bill but you will get all that interest instead of the gov't.

    ReplyDelete
  2. When you said "only rich snobs would name their child Horatio" I though "Horatio Alger: rags to riches". However, it turns out that Horatio Alger just wrote stories where poor boys became rich. In reality, he went to prep school and then Harvard at the age of 16. He then entered the ministry only to be kicked out for having sex with young boys. After that he started a charity for young boys, and wrote stories about young boys (I dont know what else he did with young boys).

    In conclusion, I thought Horatio Alger Jr. was someone who became rich through hard work, when, in fact, he was a pedophile.

    ReplyDelete