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Reply #29: I would go to a lawyer to set up the documentation required to [View All]

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Ganja Ninja Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-26-09 02:01 PM
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29. I would go to a lawyer to set up the documentation required to
divide the winnings with the people I want to share them with. It's better to divide the winnings before you collect so you'll only have to pay taxes once on them. That's not avoiding taxes. That's avoiding unnecessary double taxation.

Once I've paid my taxes I would put the money into CD's and gold coins and bullion. After that the only taxes I would have to pay is on the interest I would make on the CD's
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