People have been trying to beat the tax man since taxes were invented. Al Capone couldn't be convicted for the majority of his crimes but tax evasion got him. Here is a method I bet none of you have ever heard of.
In 1985 Ron Paul was the frontrunner congressman in passing the Gold Bullion Coin Act. This laws states that the US Govt is required to print and place in circulation Gold Coins in denominations of $50, $25, $10, and $5 dollars to meet demand. These coins are made of 91.67% Gold.
In the mid 90's a small businessman decided to compensate his employees using this alternate currency. The method of this madness is thus:
I'll pay you $50 a week with a gold coin with a face value of $50. This equates to an annual income of $2600. This is less than reportable income by IRS Code. However this US Govt minted "$50" coin is really worth $800. Which means if you converted the value of the Gold Coins currency to Federal Reserve Notes (dollars) you just made ~$42,000.
So, "If a coin says it is a $50 gold piece, and it says 'In God We Trust', and the law says that it is legal tender, and it is in circulation, isn't it reasonable for people to think that they can calculate their tax liability based on that?"
So go tell your boss that you want to get paid $100 a week in US Minted Gold currency!
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