Eight Types of Income The IRS Can't Touch

[LuxLiving]

Eight Types of Income The IRS Can't Touch

8 types of income the IRS can't touch - MSN Money

I thought this a relevant article in light of the recent postings about the desire to opt out of the Social Security System.


*Note to Jeffrey, I tried to post this in the Taxes section but wasn't able to access it.

[sweeps]

Good article. Unfortunately I'm already doing most of those things.

[Ima saver]

I can't get thru to read the article. Can some one post what the 8 things are??

[LuxLiving]

Ima - here's a brief listing:

1)Tax Free Interest - municipal bonds
2)Carpool Receipts - $'s received from riders to offset expenses
3)Capital Gains on home sale - 2 yr. rule

Tax Free Compensation
4)Health coverage supplied by employer
5)Group life insurance by employer
6)Education expenses by employer
7)Transporation costs covered by employer
8)Cafeteria Plans a/k/a Flexible Spending Accounts - disability insur, childcare expenses, accident benefits, etc.

IMHO, Ima #4-8 here would provide you and your husband the health /disability insurance you guys don't currently carry - IF you incorporated your business somehow and provide a tax break at the same time - even on the new van I would think.