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how much can you withdraw with payoneer without being "caught" ?

Discussion in 'Business & Tax Advice' started by georgedelajungla, Jun 20, 2016.

  1. georgedelajungla

    georgedelajungla Newbie

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    Well, I hope the title is clear :) . I have read a lot of different stories. From people saying they know someone who got caught by the t a x guys after withdrawing a few thousands $$$ to other ones telling they´ve been pulling 2000 bucks / month via ATM during years with no issues.

    Please, post here your personal experiences to know if it a safe method to collect the IM earnings. I know depending on the country you live , it might change the monthly amount to stay under the radar. But I am sure it will help everyone to get a general idea.

    thank you !
     
  2. THUNDERELVI

    THUNDERELVI Elite Member

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    It really depends on the country you live and how actively it pursues tax evasion. Third world countries in Europe (hell a couple of them are even in the EU) don't usually give a shit, so you can withdraw plenty without any problems and this is talking from my experience and a friend's of mine in real life.
     
  3. lemon

    lemon Junior Member

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    honestly, it is better just to report your income. Fees and penalties can be thousands of dollars, nevermind the fact that it is a crime to avoid taxes. Why bother with this headache? Even if you don't get caught from the payment provider reporting the income to the IRS, you can still be caught years later if you are audited.
     
  4. LordCameltoe

    LordCameltoe Regular Member

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    This x1000

    If you're earning decent numbers with IM, just report it. You will get caught one day and it will hurt a lot (if you live in a first world country)
     
  5. archixet

    archixet Jr. VIP Jr. VIP

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    Im a webcam model and a part-time bottle washer!!!
    here in my country you can withdraw as much as you want!
     
  6. janeeth20

    janeeth20 Registered Member

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    useless to ask here. you should ask people in your own country. every country has different tax system
     
  7. TayaX

    TayaX Jr. VIP Jr. VIP

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    It depends on how you brag about it. Keep a low profile and a low life (if thats your main source of revenues) and you'll be good
     
  8. HoNeYBiRD

    HoNeYBiRD Jr. VIP Jr. VIP

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    Payoneer isn't required to report to any tax agency of any country by default, although if they're asked to do it, in that case they need to comply.

    This is an answer from a Payoneer rep to a question similar to yours: "In regards to your question about reporting, Payoneer is not required to report earnings as we only provide you with a payment method. These earnings are already being reported by the company paying you, in this case Amazon. We are of course required to comply with any specific government requests for information."

    If you do what TayaX recommended above, you are pretty much safe.

    It's another thing if the ATM withdrawals are monitored in your country, it has nothing to do with Payoneer. You must know the limits, so you can fly under the radar. The daily withdrawal limit is $2.5k with Payoneer, if you think that's too much to withdraw at once, do it in more installments at different ATMs/banks and use your card for purchasing whereever you can, so you can minimize the amount you actually need to withdraw at an ATM.
     
    Last edited: Jun 23, 2016
  9. charliebrooker

    charliebrooker Jr. VIP Jr. VIP

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    They can't monitor withdrawals in detail and match them easily. Just pull it out in smallish amounts.
     
  10. Heisenberg

    Heisenberg Jr. VIP Jr. VIP

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    Imagine this, you are spending your precious time working and working and working to make some money online, you get payout and some fat guy slaps you and takes 40%. Thats how I would feel if I was reporting my incomes and doing everything by the books. I'd rather take the risk.
     
    • Thanks Thanks x 2
    Last edited: Jun 23, 2016
  11. diemou

    diemou Power Member

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    Payoneer doesnt report ur income to any agency as well as CPA networks. You are just expense for them. In payoneer you dont have real own Bank Account, just virtual one with your name on Credit Card.

    Thing is. Never withdraw big cash from same ATM. Always withdraw smaller amounts from more ATMs. Banks do not care about low amounts of withdrawals. Big withdrawals can send signal for checking out.
     
  12. Bleght

    Bleght BANNED BANNED

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    Move to a country where they don't care and the added bonus will be that it'll also be cheaper to live.
     
  13. Heisenberg

    Heisenberg Jr. VIP Jr. VIP

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    Because its just so easy to move to another country, lol.
     
  14. Bleght

    Bleght BANNED BANNED

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    It hurts my feelings when people don't understand when I'm joking... :p
     
  15. Heisenberg

    Heisenberg Jr. VIP Jr. VIP

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    Whops, my bad :(
    There are so many stupid people here that I can't figure out if its sarcasm or just retarded
     
  16. diemou

    diemou Power Member

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    Payoneer for the win.
     
  17. nSnoopy

    nSnoopy Registered Member

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    As long as you don't brag about what you're doing online to everyone you are safe.
    If don't feel safe with payoneer then open up an offshore company and you're good to go but it will cost more having an offshore company than using payoneer.
    Many people above talking about getting in trouble in a first world country, from his name i can tell he is romanian and Romania is a 3rd world country(correct me if i'm wrong).
     
  18. NoGameNoLife

    NoGameNoLife Regular Member

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    I usually withdraw 200$ from ATM's,about half of the average salary in my country...
    Any more than that and I get strange looks from other people waiting in line
     
  19. Masterofeverything

    Masterofeverything Registered Member

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    Stay under the radar, move to Afghanistan, and withdraw $10 at a time and you will live miserably but give the middle finger to the tax man. Depends which cheers you up the most.
     
  20. nicefor

    nicefor Regular Member

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    Well, I make around 700$ per month, when the minimum wage in my country is about $600 , if I want to report this income I have to start a company, pay $300 + for insurance, pay 29% tax, prepay tax for next year , and this results on more than 50% from my earnings, leaving me with $200 to live. I prefer the risk at the moment , and if I reach $2000 + earnings then I will think to go legal.