HOW CAN I AVOID PAYINGTAX?

sonprofesor

sonprofesor

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Hello, I'm a music producer from Turkey. My income has increased in the last 5-6 months,
I currently earn close to 1800 dollars per month on average.
But the problem is that already distrokid is making deductions and I don't want to pay taxes to this country I hate.
Currently, my money naturally comes to Turkey from America. I'm withdrawing my money,
I haven't received a tax related penalty for now, and I haven't made a statement that I have to pay tax.
but I can foresee that it might be a problem for me one day, I was using Wise while getting payment,
but I learned that it was also audited. what are your recommendations? What would you do if you were me?

(btw, if I were really in another country, I would gladly pay my taxes as long as I live in peace and prosperity.)
 
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Your income is not enough or I would have suggested you to move to a tax haven. As long as you're a tax resident in your country you'll have to continue to pay taxes.
 
I don't know of any loophole and I wouldn't suggest one if I did. If you are serious about avoiding tax find a financial advisor either in the states or in Turkey and work it out from there. I also don't know many financial advisors that would help you based on the amount of money. Not trying to discredit you, I don't see a real solution for your problem as of right now.
 
Don't avoid tax. That's fraud.

Instead of taking the money in your personal account, open a business (type of business depends on the country. Talk to a CA). Then take salary from your own company (take as much as it will be tax free. On top of that, you can show certain expenses like home loan as write off from your personal account. It depends on the country as well). For expenditures, use your company account (BE SURE TO SPEAK TO YOUR CA). Those expenditures can then be shown for tax write off.
 
Gogol said:
Don't avoid tax. That's fraud.

Instead of taking the money in your personal account, open a business (type of business depends on the country. Talk to a CA). Then take salary from your own company. For expenditures, use your company account (BE SURE TO SPEAK TO YOUR CA). Those expenditures can then be shown for tax write off.
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Bookmarked to evade cells
 
Spend your money on investments. Like more plugins, upgraded PC, sample packs.
 
Gogol said:
Don't avoid tax. That's fraud.

Instead of taking the money in your personal account, open a business (type of business depends on the country. Talk to a CA). Then take salary from your own company (take as much as it will be tax free. On top of that, you can show certain expenses like home loan as write off from your personal account. It depends on the country as well). For expenditures, use your company account (BE SURE TO SPEAK TO YOUR CA). Those expenditures can then be shown for tax write off.
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I never heard of any 1st world country where a salary can be effectively tax free, even at minimum wage there are always social and healthcare contributions, which can be substantial and larger than income tax up to a certain wage.
 
oldguyjoe said:
I never heard of any 1st world country where a salary can be effectively tax free, even at minimum wage there are always social and healthcare contributions, which can be substantial and larger than income tax up to a certain wage.
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He never said his salary will be tax free. But by re-investing the profits into the company he can reduce his tax liability.
 
Project Limitless said:
He never said his salary will be tax free. But by re-investing the profits into the company he can reduce his tax liability.
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Gogol said:
Then take salary from your own company (take as much as it will be tax free.
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He probably meant only to limit the wage in order to minimize or nullify income tax only. Pension/health contributions are unavoidable in most of the western world.
 
oldguyjoe said:
I never heard of any 1st world country where a salary can be effectively tax free, even at minimum wage there are always social and healthcare contributions, which can be substantial and larger than income tax up to a certain wage.
Click to expand...
Hmm then it is tough to save tax on the salary. But I think company expenses can still be shown for tax write off.
 
Gogol said:
Hmm then it is tough to save tax on the salary. But I think company expenses can still be shown for tax write off.
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Indeed. One option that some countries have is for business owners (usually only applies to sole proprietors) to pay a flat tax on their revenue (not profit), which can be very handy, when you are running a high margin business. OP could look into that, no idea if Turkey has it though.
 
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