950: Friday Q&A: Reduce Taxes in Retirement, Transfer Money Abroad, Alternatives to USA, Rip-offs, etc!
Radical Personal Finance
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How to Pay Zero Taxes
If your itemized deductions are larger than your standard deduction, then you can zero out your income taxes by giving all your money away to charity. So if you needed $0 of income to live on, and you gave away the entirety of your income, then you would pay no income taxes. The same thing can happen with regard to any portion of your income. There's not a lot that you can do to reduce your taxes other than use retirement accounts. I've spent 20 years searching for the magic of how to pay zero taxes. And there is magic in some situations.
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