cashing out paypal

[LeviathanW]

hi,

First of all: nice forum! Found it yesterday googling for my answers, and there is much useful information here!
Too bad I didn't find my answer yet, so here it goes:

I'm wondering what you should/can do when you make quite some money(couple 1000's usd/month) with warez(rapidshare/megaupload)? How can you use the money?
They both pay with paypal, and some googl'ing learned me that you should declare the money you made with paypal to your taxservice.

Won't they ask serious questions when (for example) some student is makeing 10k's of dollars extra a year? How do you explain where that money comes from?

Just not declaring it doesn't seem to work either, paypal seems to have to report 10k+ transactions(split or all at once doesn't make a difference).

Making multiple unvalidated account doesn't seem to work either, since they get blocked and keep asking for more details (cc/bank account/documents for identification etc). And if you would validate it using a vcc, where can you transfer the money too so you can use it?

What can you do?

 

[all_for_war]

hi,

First of all: nice forum! Found it yesterday googling for my answers, and there is much useful information here!
Too bad I didn't find my answer yet, so here it goes:

I'm wondering what you should/can do when you make quite some money(couple 1000's usd/month) with warez(rapidshare/megaupload)? How can you use the money?
They both pay with paypal, and some googl'ing learned me that you should declare the money you made with paypal to your taxservice.

Won't they ask serious questions when (for example) some student is makeing 10k's of dollars extra a year? How do you explain where that money comes from?

Just not declaring it doesn't seem to work either, paypal seems to have to report 10k+ transactions(split or all at once doesn't make a difference).

Making multiple unvalidated account doesn't seem to work either, since they get blocked and keep asking for more details (cc/bank account/documents for identification etc). And if you would validate it using a vcc, where can you transfer the money too so you can use it?

What can you do?

buy something on ebay than sell it?

 

[LeviathanW]

That might be an option, but it's quite alot of trouble, and you might loose quite some money on doing that :/

 

[superduper3]

buy servers like 3 and sell master reseller accounts and reseller accounts also then buy script like rapidshare and start your own site , you make more and more money then all the money you make buy gold with it , then sell the gold for cash , with gold you make loads of cash simple

 

[atom6402]

buy a debit card or use some exchangers

 

[LeviathanW]

buy servers like 3 and sell master reseller accounts and reseller accounts also then buy script like rapidshare and start your own site , you make more and more money then all the money you make buy gold with it , then sell the gold for cash , with gold you make loads of cash simple

I don't think it's that easy to start just another webhosting company, and you'll need to advertise much. I think that's to hard to start nowadays?

@atom: how's a debit card gonna help me with paypal?
Exchanging was what I was thinking too, BUT most don't exchange with paypal, or want to see id's etc to confirm you're legit. Another problem is that exchangingcompanies seem to only allow you to use the paypal with the same e-mailaddress you used to register with the exchangingcompany, even if you verified your id/address/etc.

I've been googling for the last 2 weeks now after a decent option. If you know a legit exchanger/exchangingcompany that accepts payments from multiple paypals, please tell me.

 

[arain]

I suggest find some one honest making huge transactions with paypal offer him some cut say 10% and and then ask him to send money to you by WU or any other method you like..........I am sure and Indian guy would love to do it......... try GAF and you will see plenty of people arround doing similar stuff like this

 

[LeviathanW]

Hm, that's worth checking out, thank you

 

[arain]

Hm, that's worth checking out, thank you

Well Thats good and if you need any sort of further assistance I may be able to help...........But I must tell you I dont have a paypal as I am in Pakistan but can help you in sorting GAF thing

 

[mrcash]

Using exchangers might be your best bet, just make sure you find legitimate one and with good testimonials, so that you won`t get ripped off.

 

[omarabid]

im also facing same issue n didnt find a way. shitty govs!
Posted via Mobile Device

 

[gloomy]

I have a romsite that I've owned for about a year now. I just use PayPal and transfer it to my bank account.

 

[abbeynism]

I hope you sign up with plimus.com and make a product link that will cost up to $500 then copy the link and buy the product by yourself with your paypal account then you will have variety of ways to receive your money through plimus either Prepaid Credit card or Bank Wire Transfer and many more just check. and if you dont understyabd mush you can lave a post here and I will get you full info.

 

[pavan]

I can help you out
add me up on yahoo
u can get my id from my profile page or just pm me

 

[omarabid]

@abbeynism trying this out with FastSpring, will post the results as soon as I complete it successfully!

 

[LeviathanW]

I hope you sign up with plimus.com and make a product link that will cost up to $500 then copy the link and buy the product by yourself with your paypal account then you will have variety of ways to receive your money through plimus either Prepaid Credit card or Bank Wire Transfer and many more just check. and if you dont understyabd mush you can lave a post here and I will get you full info.

That is a very interesting way! I will definitely check it out, thank you!

 

[abbeynism]

That is a very interesting way! I will definitely check it out, thank you!

I hope you get this simple trick it is working as I have used it before.
If it works please make a post here

And I will like to know if you can sell Paypal for me while I pay you with Liberty Reserve.Thanks.