News, They Earn $200,000 and Pay No Taxes.

[NewToCA]

According to the story, it appears the majority of this group escaped taxes due to having foreign earned income, and paying income taxes to foreign countries. These credits negated their Federal income tax bill.

But they still paid income taxes, just not here.

The remainder could document that they gave the majority of their income to charity.

[GeminiGal]

I thought the pic in the article to be quite laughable - people who earn around this mark do not consider themselves wealthy by any means so boarding a private jet is a little over the top.

No doubt the IRS is looking heavily at this bracket and the loopholes that are being used. That creativity only works until the audit and then it's over - future and past. And again - I would hardly catagorize this group as being wealthy.

[Driller1]

Originally Posted by GeminiGal

I thought the pic in the article to be quite laughable - people who earn around this mark do not consider themselves wealthy by any means so boarding a private jet is a little over the top.

No doubt the IRS is looking heavily at this bracket and the loopholes that are being used. That creativity only works until the audit and then it's over - future and past. And again - I would hardly catagorize this group as being wealthy.

What "loop-hole" did you have in mind???

[forest beekeeper]

Many employers provide their own 'private' airplanes for transporting employees around between job sites. One of my current neighbors is a helo pilot for such an employer, he works six-weeks on and he has six-weeks off. His job is entirely transporting employees, supplies and mail; between job sites.

Also I did not see any mention of loopholes either.