Deductions & credits

The question was - what service do you preform that is worth 25K?

If your parents are just gifting you 25K (which this is sounding like) and are treating you as an employee or contractor to be able to deduct it a wages paid, than that is tax fraud if you did not actually do 25K worth of work for them.

 

Might (probably) get away with it but maybe not and the penalty can be jail time.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**