Declare earning from ads

Hi,

i have a question about how you guys earning money declare their income.
Most of my earnings where like 500$ monthly, through paypal or payoneer. Mostly payoneer and than i would withdraw it from atm.

Now business is rising for me and i'm making 80$ daily with ads. If i would transfer that money into my bank account, i'm scared i get noticed.

What's the best option? Use a different provider like paxum and than just cash out from ATM. Can goverment see that?

Or just get a accountant and declare everything. Downside it that i lose almost 30% since i already have a full time job..

People that try to hide income from the taxing authorities can end up in situations that really suck.

Ok, i'll guess i'll just go for the safest way

as far as i know when you do atm withdrawals they are transcripted with an id,, dont remember much and im not really sure about it but that's what i heard so you might want to have a look

Well What i do. Since i have multiple income sources.

1 network which is ringpartner pays directly through the bank in which that's how I declare taxes.
And other networks are through E-payments and Payoneer. In which I just withdraw daily and just have a safe for local money. Don't really hold it all in banks.
The reason why I have 1 network deposit straight to bank since I have an LLC registered locally so I would need to provide income and for basic taxation

Well the laws here in PH are really not that strict though.
Will be starting a livestock and aquaponic soon to diversify income

Well, problem here in Be is that taxes are so high. I've spend year testing, buying server etc.. Spending my own money to make something work.

Now it's finally paying off but here in Be you have to pay like 50% taxes. If i earn 2k i have to give away 1k. I find that not fair

SpexHaru said:

Well What i do. Since i have multiple income sources.

1 network which is ringpartner pays directly through the bank in which that's how I declare taxes.
And other networks are through E-payments and Payoneer. In which I just withdraw daily and just have a safe for local money. Don't really hold it all in banks.
The reason why I have 1 network deposit straight to bank since I have an LLC registered locally so I would need to provide income and for basic taxation

Well the laws here in PH are really not that strict though.
Will be starting a livestock and aquaponic soon to diversify income

Click to expand...

It's pretty bad / risky to try and hide your income in hopes that your tax man never finds out.

But it's 1,000x worse to come to a public forum and post about it, as whenever you do get involved in an investigation this is an additional piece of proof that your tax authority will be very thankful they have!

Really appreciate the feedback though @bryanon but the thing with my country in terms of laws is very loose.

Having no problems as long as everything is lowkey. That's why I diversify my income sources

There's 2 solutions, either declare the income or downgrade your business. The reason for this is because if you choose not to declare your income, at $80 (and growing) per day, you'd have a lot of money either sitting at home as cash or at the ATM as numbers. Over $25,000 at the end of the year to be precise.

At $500 per month (just over a mere $15 a day) you could easily spend the money with $6,000 per year in cash at home. In fact, forget the IRS, I think >$25,000/y is enough to earn you a spot on a FBI's list. There's no point working extra hours just to earn an extra few zeros which you can't even use without a knock on the door.

Therefore, declare it and then keep expanding. You earn so much you could probably spend 10% of your money rather than waste 40% towards Government by paying a clever accountant that could write off your car, house and pet dog as "business expense".