Buy a home and live in it as your main home for at least 2 years. When you sell it, any gain below $250,000 is tax free (assuming you haven't taken advantage of this tax rule within the prior 2 years). $500,000 if you're married and file jointly.

A former client started in a small 1 bedroom apartment back in the early 2000s. He would buy a new and better home every 2 to 3 years. Now he's living in a huge home in one of the most exclusive communities in our city, and he hasn't paid a penny in taxes for any of the homes he's sold over the years because of this rule.

It may be a rule that is well-known among tax pros. But the average US citizen doesn't know about this rule.