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Do you pay taxes on the IM money?

Discussion in 'BlackHat Lounge' started by spectrejoe, Nov 14, 2016.

  1. spectrejoe

    spectrejoe Jr. VIP Jr. VIP

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    I'm making over the national minimum wage so it's about to become decent numbers, up to today I haven't paid a single tax like you would in a regular job (where you give a certain % to the state not sure how to call it in english) and I wonder if I should start doing it and if so how did you go about it?
     
  2. binaryking

    binaryking Regular Member

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    no .
     
  3. asap1

    asap1 BANNED BANNED Jr. VIP

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    Yes.
     
  4. Heisenberg

    Heisenberg Jr. VIP Jr. VIP

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    Hell no.
     
  5. amoon

    amoon Jr. VIP Jr. VIP

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    yes, now if you have some growing income coming every month in your bank account, the tax will be taken automatically

    i do not know if this exist in your country
     
  6. spectrejoe

    spectrejoe Jr. VIP Jr. VIP

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    I don't think so, I know they do that automatically when you get a job but it has never happened to me so far with IM money, will go to my bank and see, don't wanna have to pay a 5k fee in 3 years when my sht country remembers that I exist
     
  7. amoon

    amoon Jr. VIP Jr. VIP

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    if its small amounts, then its OK , but if you receive some interestting numbers, then even the bank will notice that, and that is why its preferable to start a company,
     
  8. artur241097

    artur241097 Registered Member

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    Good attempt, Tax Inspector.
     
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  9. ste83

    ste83 Registered Member

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    Relocate to a country where foreign income is not taxed, create an offshore company with offshore bank, and you won't pay taxes. You will then need a good private health insurance and you're set. You can live like a digital nomad for the rest of your life, traveling 365 days/year.

    I think this won't work if you're from the US, and it definitely won't work if you get residency in that country and you keep living in your home country.
     
  10. spectrejoe

    spectrejoe Jr. VIP Jr. VIP

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    Just slightly above minimum wage for now, no way I'd start a company for such little money tbh
     
  11. amoon

    amoon Jr. VIP Jr. VIP

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  12. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    Nope, it won't be considered foreign earned income as you worked on it inside the country.
     
  13. datsunguy

    datsunguy Supreme Member

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    consider setting up a business in another country with low taxes for companies and pay your self a wage from out the company. all legal (depending on your countries laws) and save on paying tax.
     
  14. ste83

    ste83 Registered Member

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    Do a google search about Paraguay ;)

    It's a common country of residence for digital nomads, because once you get the residence you are not required to spend not even one day per year in the country to keep it, and they don't tax foreign income (income generated from outside the country).


    But I repeat: this won't work for US citizens, because US taxes you based on your citizenship and not on your residency, so you should give up your passport for this to work (not good if you want to travel)
     
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  15. The Magician

    The Magician Jr. VIP Jr. VIP

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    3 things I don't fuck with:
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    3. The Tax Office
    Pay you're taxes kids, the tax man doesn't fuck around.
     
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  16. Heisenberg

    Heisenberg Jr. VIP Jr. VIP

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    You would be fine with paying ~45% of all your income to your country? I'm not.
     
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  17. datsunguy

    datsunguy Supreme Member

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    you're right to fear the tax-man. dont risk your freedom to save money. But there are plenty of legal ways to pay less tax. but i do believe the Americans have quite strict laws compared to most of western EU. cant say for the rest of the world.

    Had people close to me fuck up their lives because they wanted to save a bit. Dont fight the law. work around and with it.
     
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  18. Vapys.Com

    Vapys.Com Regular Member

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    Pay your taxes.
    77805-wu-tang-clan-aliens-guy-meme-cuD8.jpeg
     
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  19. a hungry bear

    a hungry bear Regular Member

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  20. zebrahat

    zebrahat Elite Member

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    There is no positive law requiring most Americans to pay or file, period. See SEDM.org for details. So it's not about "fighting the law," it's about not having the law falsely or fraudulently misapplied to you. Keep yourself judgment -proof, avoid having the government-assigned SSN/TIN tracking number attached to your private financial activity, and challenge all assessments, and you'll be fine. I have not filed or paid in 16 years.
     
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