HOW CAN I AVOID PAYINGTAX?

sonprofesor · Jun 15, 2022

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.)

Project Limitless · Jun 15, 2022

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.

CPANathan · Jun 15, 2022

press f to enter cells

Lil_ · Jun 15, 2022

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.

Gogol · Jun 15, 2022

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.

CPANathan · Jun 15, 2022

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.

Bookmarked to evade cells

muratback · Jun 15, 2022

You can get payment with crypto

True Miller · Jun 15, 2022

Spend your money on investments. Like more plugins, upgraded PC, sample packs.

sonprofesor · Jun 15, 2022

muratback said:
You can get payment with crypto

I told this to a music company I work for, but they refused.

muratback · Jun 15, 2022

sonprofesor said:
I told this to a music company I work for, but they refused.

Then you can use paypal, probably untraceable as it is banned in turkey

mirrorer · Jun 15, 2022

Move to Romania. 1% tax on turnover for less than 1m euro/year.
Enjoy life.

oldguyjoe · Jun 15, 2022

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.

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.

Project Limitless · Jun 15, 2022

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.

He never said his salary will be tax free. But by re-investing the profits into the company he can reduce his tax liability.

oldguyjoe · Jun 15, 2022

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.

Gogol said:
Then take salary from your own company (take as much as it will be tax free.

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.

Gogol · Jun 15, 2022

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.

Hmm then it is tough to save tax on the salary. But I think company expenses can still be shown for tax write off.

agedaccs · Jun 15, 2022

Find an accountant that can decrease the taxes you pay. i guess that’s all you can do legally if you can’t use crypto..

oldguyjoe · Jun 15, 2022

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.

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.

homeriscool · Jun 15, 2022

Pay tax dude - you'll sleep better.

Look at it like this.....the global economy is going down the toilet.

Your tax money could be feeding a few kids who's parents can't get a job.

Titanlord · Jun 15, 2022

best way to avoid tax is not to earn money at all, its very simple lol

Ni12 · Jun 16, 2022

sonprofesor said:
What would you do if you were me?

I would pay my taxes.

HOW CAN I AVOID PAYINGTAX?

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