Legal Investments Where The IRS Cannot See?

Question

I am handicapped and on a disability pension. I do not wish to be on this forever as I hate depending on the gov for funds. So i'd like to invest now since i am young but as it turns out I am not allowed to own more than 2k of any investments or they cut me.. which is hardly a strong foundation to survive on the profits of. =(

I've been studying different markets; stocks, realestate, bonds, tax liens but it seems the IRS would always know what i'm doing even if i didn't report. And I dont really want to do anything illegal but I also do not want them in my business if i can invest in territory that they have no control over.

So i thought that they couldn't possibly watch over everything..

Yes, I know i'm really suppose to report every little dime I earn from anything and everything, from any location but I look at it as a don't-ask-don't-tell.

The only thing i can think of is maybe some stock markets in other places of the world have markets in countries that dont report?

Answer 1

The truth:  Birth, Taxes and Death, there isn't a way around any!  Do the right thing as an American, PAY YOUR TAXES!

Answer 2

I sure don't know of any! In Australia we are allowed to invest substantial amounts into superannuation and the interest goes back in to your funds. I'm sure that in the states a similar program would be in place to encourage people to be self sufficient in Old age. Talk with your social worker and you may be surprised. The IRS will know about it and be happy with it.

Good Luck

Answer 3

there are certain devious ways around the IRS.  The main one that come into mind is owning a cash only business.  Bars are one of the most popular of these types of businesses and therefore extremely popular.  There is only one way to verify a cash only business.  That is to look at the books and back track through the source of supplies the amount of beer, etc being purchased and then extrapolating foreward to determine the revenue generated.  Very difficult to do but not impossible.