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How you deal with taxes?

Discussion in 'Black Hat SEO' started by seo4life, Apr 29, 2014.

  1. seo4life

    seo4life Regular Member

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    I travel a lot and I wonder how you deal with tax. Do you have your own company, or you just pay a cut of your all incomes?

    In my country I have to pay 40% of all income.......that is without company
    If I make a company I have to dish out each month 500 to run it and then 20% of all income.
     
  2. yensidtlaw

    yensidtlaw Power Member

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    I don't know where you live... But I never want to go there.

    What country is it?
     
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  3. seo4life

    seo4life Regular Member

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    Austria
    I gess you Americans are very lucky, you have to pay only 20%, am I correct?
     
  4. mickyfu

    mickyfu Jr. VIP Jr. VIP Premium Member

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    I have two companies, one a limited company and the other a sole trader.
     
  5. Argoss

    Argoss Junior Member

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    It really depends. We technically have several different taxes. Sales tax gets tacked onto every purchase and the percentages vary from state to state. And then for income tax, there are two separate taxes that have to be filed....one goes to the state and the other goes to the country as a whole. Depending on your household size, income bracket, and how many deductions are available, is what determines how much you actually pay in. This might end up being 0% or it could be 30%.
     
  6. ikstob

    ikstob Junior Member

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    I am sure there are more cost effective ways to run a company in Austria than '500 a month'. Companies generally only pay taxes on profit meaning you can offset legitimate expenses like hosting, rent, utilities and office running costs.
     
  7. seo4life

    seo4life Regular Member

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    trust me it is ven more than 500 usd. You have to pay social securilty, accountant for taxes....... it gets over 500 usd per month

    it is just crazy!
     
  8. davids355

    davids355 Jr. VIP Jr. VIP Premium Member

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    Based on what you said, you should start a company. F' paying 40% (you only pay that in the uk on earnings over £35k I think).
     
  9. saxgod

    saxgod Regular Member

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    I pay way to much taxes :(
     
    Last edited: Apr 30, 2014
  10. Macthetrix

    Macthetrix Regular Member

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    Hire an accountant. Thats how I deal with taxes.
     
  11. wizdorf

    wizdorf Regular Member

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    Find a tax haven county, become citizen, renounce previous citizenship and then pay little to no taxes.

    Welcome to the future for internet entrepreneurs.
     
  12. auxiliarus

    auxiliarus Regular Member

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    Around 15% to 25%, depends.

    If you are born an Emirati then you are a lucky son of a bitch.
     
  13. erickishere

    erickishere Elite Member

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    How do I deal with taxes? I pay them lol
     
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  14. tony_d

    tony_d Elite Member

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    Just register a Hong Kong company, and do all business through that company... the tax rate in Hong Kong for profit earned outside HK is 0% :)

    You then need to only pay personal income tax, but, if you're traveling a lot there's a good chance that you're not considered a resident in any country for tax purposes, meaning you don't need to pay any personal income tax either.

    Welcome to the world of 0% tax, 100% legally :)
     
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  15. Macthetrix

    Macthetrix Regular Member

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  16. OrangeNRG

    OrangeNRG Jr. VIP Jr. VIP Premium Member

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    I don't deal with them... if you know what I mean...
     
  17. ficfroc

    ficfroc Regular Member

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    You can do even more by taking a loan from the hong kong bank that is hosting your money, this way they wire the money to your country and you pay no taxes because there are no taxes on loans, you only pay the interest of the loan which could be as low as 5%.

    In Europe you are allowed to contract a loan from a bank outside your country or even outside Europe. All you have to do to cover up your arse is to try having some loans from some banks in your city and manage to be refused.

    Oh by the way this is what apple did last year when they needed some funds, instead of transferring funds from their offshore accounts and pay taxes on them, they just contracted a loan from their offshore bank and had the funds available.

    Of course, I'm saying this for people who need their money in order to buy a house or some expensive car, kind of stuff you can't pay in cash.
     
    Last edited: Apr 30, 2014
  18. funkybunker

    funkybunker Supreme Member

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    Are you telling me I can avoid business income tax through a Hong Kong company? What about things we WANT tax cuts on like collateral/marketing, necessities etc. since tax liability is based on your total profits?

     
  19. DamageX

    DamageX Elite Member

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    Depending on how much you travel, that alone could give you a good tax break. As in pay 0% in your home country. Many countries (don't know about Austria, but consult with a tax lawyer, and I mean LAWYER, not accountant) have a provision where you don't have to pay taxes if you 1. Spend less than six months/year living there and 2. no longer OFFICIALLY reside there. Meaning you'd have to OFFICIALLY change your country of domicile to another country, preferably a low-tax one.

    Easier said than done. Many tax-haven countries require sizeable amounts of money be brought with you ($200K+), or make investments/buy property of at least similar sizes. Which isn't realistic for most IM-ers, sadly.

    That being said, there are countries where you can effectively be a perpetual tourist. As in no visa application prior to entry, stay for 90 days, take a day trip to a neighboring country, stay another 90 days, rinse and repeat.

    Actually that's not entirely true. Sure, HK companies are anonymous (last I heard) and only required to pay tax on revenue generated domestically. However that doesn't mean you don't have to pay taxes in your home country. In fact, many countries will still tax the shit out of you, as long as the work you do is being done from within your country of residence. As in they'll simply ignore the fact that the company being used as a front for your business is based elsewhere and they'll judge the income according to where the profit-generating activities are being performed. I.e. in your mother's basement, in many BHW members' cases. :D

    Also, in the case of the US citizens, they'll pay personal US taxes REGARDLESS of where they reside, as long as they are citizens of the USA. The only way around that is to renounce your US citizenship. And even if you do that I've read about cases where US tax still has to be paid for a number of years after that.

    Having an anonymous tax-haven company is simply less risky tax evasion, but it's still tax evasion. Meaning, don't drop the soap if you get caught.
     
  20. GentlemanX

    GentlemanX Junior Member

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    I know people who pay upwards of around $30,000 in taxes a year here in Canada. Free health care and other perks but huge taxes and I think it's great because everyone is covered! I think it's a good idea to always file taxes especially here when the government agencies do get suspicious if individuals buy a new Mercedes or house without a listed job.