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earnings question

Discussion in 'Making Money' started by cashout453, Jan 3, 2013.

  1. cashout453

    cashout453 Junior Member

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    Hello everyone, just wanted some information about reporting your IM earnings. I want to know if I can get in trouble for reporting money made from black hat or white hat methods online. I want to know if I will get audited and what im suppose to say if that happens, I live in Canada btw. Thanks a lot.
     
  2. Checkmate

    Checkmate Elite Member

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    You won't get audited unless you are making a lot.
     
  3. aZoid

    aZoid BANNED BANNED

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    Nothing wrong about reporting them mate.
     
  4. whynotmakeit

    whynotmakeit Power Member

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    Imagine it is the same in every country. If you report earnings then you can also claim all your expenses- computer, iphone, interent, even your car etc....so well worth it. Most accountants will give a free first consultation to get your business. You don't need to take their advice but is good to know some facts. Having a good accountant always makes me much more money in savings each year than they charge.
    Also lets you sleep at night as sooner or later the IRS are gonna come knocking......
     
  5. burnett4congress

    burnett4congress Jr. VIP Jr. VIP Premium Member

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    G* terms of service are not laws. Your income is perfectly legal (possible exceptions included online gambling sites, using stolen credit card numbers, etc). Talk to a good tax accountant who knows Canadian laws.
     
  6. cashout453

    cashout453 Junior Member

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    Thank you guys all for the quick responses, but what if they want to see how I'm making my money though? Like obviously I'm not going to be defrauding anyone and only considering doing white hat, but with my method I'm not going to have a website.
     
  7. Checkmate

    Checkmate Elite Member

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    They don't ask you how you're making money. You just say you do online marketing.

    An audit just means you have to show all your receipts, proof of earnings etc.
     
  8. zebrahat

    zebrahat Elite Member

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    Laws differ from country to country, find out IF and WHAT you are actually required to do in Canada, and just as importantly, the limits of those requirements. From the point of view of fundamental human rights and real financial privacy, it's always better to not disclose your personal transaction data, and always appropriate to question governmental presumptions that they have a mandate to access it (claims that are usually excessive, and in violation of true lawful due process).

    So long as the feds don't know where you make money and where you store it, they are not in a position to know enough to audit you, period. IM allows you to decentralize your transactions (eg, through lots of affiliate programs) and storage points (eg, different processor accounts), and if you use stealth accounts or pseudonyms, you are defacto invisible unless they really dig, or get real warrants and so on. It's your choice as to how visible you want to be, but do understand the web readily gives you that opportunity, more than in offline earning.
     
  9. cashout453

    cashout453 Junior Member

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    Oh I see, sorry never knew that.
    Thanks for the info. I will check out what the laws are over here in regards to online earnings, but are you saying I don't even need to make any claims if I didn't want to? Also, where would I obtain a stealth account and how many should I have? Guess, it wouldn't make sense to deposit money into my main bank account right?
     
  10. cashout453

    cashout453 Junior Member

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    ^^^ I cant pm you back man, but I think I'll pass.
     
  11. zebrahat

    zebrahat Elite Member

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    As I said, first get clarity as to what the local laws require of you, and if they must apply to you. Stealth accounts are those that are not in your name, or operate without necessarily reporting (ie, acting as unpaid informants to the government). The easiest faux account to get is a stealth Paypal, but may be awkward to verify. The main bank account is okay for low amounts, but you should explore other options if you want to keep the bulk of your financial privacy intact.
     
  12. cashout453

    cashout453 Junior Member

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    Ok I will get clarity, but how would I get money out of a stealth paypal account, wouldn't I need to transfer the money to my main bank account anyways? And I thought the bank won't ask me the process of how I'm making my money? Also, do you know any decent white hat mtd for cl? Thanks in advance.
     
    Last edited: Jan 4, 2013
  13. zebrahat

    zebrahat Elite Member

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    If it's a US paypal, You can apply for a stealth debit card with a bank account (Ready Debit and Account Now don't do a rigorous check of the SSN and name supplied, you just need a real physical address). That bank account or PP can then be used to transfer funds wherever, without much of any questions. The best method for part time CL advertisers is to simply outsource work to full time people equipped to do heavy duty posting.
     
  14. Alonzx

    Alonzx Junior Member

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    your earnings are all legal.
     
  15. cashout453

    cashout453 Junior Member

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    Ok man thanks, just really paranoid. Even being on this public forum talking about this worries me, should I be on here with proxies?