Tax strategies

Every strategy gets its own page with a community verdict, cited sources, and a discussion where you can add support, a counterpoint, or a source.

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Showing all 8 strategies.

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Holds upverified Sep 19, 2026

Contribute to a workplace pension to defer tax

Contributions to a qualifying workplace pension reduce taxable income now, and growth is tax-deferred until withdrawal. Limits and rules vary by plan and jurisdiction.

2 replies92 votesby J. Okafor
Holds upverified Sep 16, 2026

Rent out your home for 14 days tax-free

The 'Masters exemption': if you rent your home for 14 or fewer days a year, the rental income is not reportable. This is a real, narrow rule — not a license to run a full-time rental.

3 replies1 votesby R. Lindqvist
Holds upverified Sep 29, 2026

HSA triple tax advantage

Contributions, growth, and qualified withdrawals are all tax-free. The catch: you must be enrolled in a qualifying high-deductible health plan, and there are annual contribution limits.

4 replies1 votesby M. Kessler
Debunkedverified Oct 6, 2026

Flagged: may cross into illegal tax evasion. Shown for discussion only, not endorsed.

Pay yourself a salary to dodge self-employment tax

The claim: incorporate, pay yourself a tiny salary, and take the rest as distributions to avoid self-employment tax. This is aggressive and often crosses into evasion — the IRS requires reasonable compensation.

AggressiveNeeds a professional
2 replies86 votesby P. Moreau
Holds upverified Sep 21, 2026

Tax-loss harvesting with wash-sale caveats

Sell losing investments to offset gains and reduce taxable income. The wash-sale rule blocks the deduction if you buy a substantially identical security within 30 days before or after the sale.

3 replies95 votesby R. Lindqvist
It dependsverified Sep 23, 2026

Crypto losses are fully deductible

You can deduct realized crypto losses, but only against capital gains first, then up to $3,000 of ordinary income. Unrealized losses (paper losses) are not deductible at all.

Outdated
2 replies86 votesby M. Kessler
Debunkedverified Oct 3, 2026

Write off your car as a business expense

The common myth: buy a car, call it a business expense, and deduct the whole thing. In reality you can only deduct the business-use portion, and you must pass a business-use test with records.

Needs a professional
3 replies95 votesby P. Moreau
Debunkedverified Sep 26, 2026

An LLC magically eliminates taxes

A popular myth. An LLC is a legal structure, not a tax status. By default it's a pass-through entity — you still pay income tax on profits, and you may owe self-employment tax.

2 replies95 votesby J. Okafor