I make 350$-400$ profit a day in a country where you earn 700$ in a month. Help me!

Status
Not open for further replies.

carrot03

Newbie
Joined
Sep 10, 2021
Messages
3
Reaction score
1
Hello ! I have a site and i make profit 350-400 $ every day. I use Stripe for my transactions and the money goes right into my back account after 7 days. Can you please tell me how to hide this money so i dont pay any taxes ? Can i open a bank account somewhere that doesnt send montly reports to the authorities ? I live in a 2nd world country if that helps.
 

paraztos

Power Member
Joined
Jan 4, 2021
Messages
537
Reaction score
596
Hello ! I have a site and i make profit 350-400 $ every day. I use Stripe for my transactions and the money goes right into my back account after 7 days. Can you please tell me how to hide this money so i dont pay any taxes ? Can i open a bank account somewhere that doesnt send montly reports to the authorities ? I live in a 2nd world country if that helps.
Please tell me, why you want to avoid taxes? Srsly?? Even with taxes you make around the average monthly in 3 days. It's so much easier to pay taxes than jumping through hoops to avoid them.
 

Jimoz

Supreme Member
Joined
Apr 22, 2020
Messages
1,272
Reaction score
1,241
Website
t-ranks.com
Hello ! I have a site and i make profit 350-400 $ every day. I use Stripe for my transactions and the money goes right into my back account after 7 days. Can you please tell me how to hide this money so i dont pay any taxes ? Can i open a bank account somewhere that doesnt send montly reports to the authorities ? I live in a 2nd world country if that helps.
If it goes into your back account, dont worry your back accounts are not taxable, enjoy.
 

Ranking Expert

Jr. VIP
Jr. VIP
Joined
Mar 26, 2019
Messages
1,543
Reaction score
835
Website
www.rankingexpertz.com
If you wanna play long, go legal. hire a CA and show maximum amount in work expenses. also keep your account low. ;)
 

MrDenz

Jr. Executive VIP
Jr. VIP
Joined
Jan 23, 2015
Messages
2,523
Reaction score
4,168
Website
t-ranks.com
$12k a month still want to avoid taxes, up to you but I wouldn't even want to imagine what the day would look like when you were discovered and you got a call.

My friend pranked me a couple of years ago, trust me, even now when I type all that I am very close to a heart attack!

Talk with people (someone you trust) from your bank...
 

Panther28

Jr. Executive VIP
Jr. VIP
Joined
May 2, 2010
Messages
5,265
Reaction score
7,603
How can i transfer from Stripe to crypto ?
No point in keeping your liquid assets in crypto, lol, only a fool would do such a thing.

Start a European or an offshore business bank account, and funnel the lot through it, Pay yourself next to nothing in wages, and claim all you need to run your business as an expense in your business.
With that money, you should be thinking about small real estate deals after saving and build a company cash reserve for a bunch of months.
 

Scorpion Ghost

Jr. VIP
Jr. VIP
Joined
Mar 22, 2013
Messages
5,710
Reaction score
5,453
Website
smmorigins.com
Even if you go crypto, you gotta ask yourself 2 questions.

1) How are you gonna convert those cryptos into cash? I guess this is doable, but it comes with dangers and headache...

2) How are you ever gonna buy something expensive (house, car, etc)? I mean, where'd you get the money, how do you justify it if the cunthorities come asking questions?
 

yogib34r

Junior Member
Joined
Sep 21, 2012
Messages
148
Reaction score
78
Setup a legit company, have the money paid in to that business account, then use the money to build or buy other sites, pay yourself a low salary, you'll also need office space, computer, maybe a car, lots of the stuff you would spend the money on anyway. This will solve the tax issue in the short term, when you're making enough that this no longer works you should be banking hard.
 

devgrizzly

Junior Member
Joined
Jul 13, 2013
Messages
142
Reaction score
68
Setup a legit company, have the money paid in to that business account, then use the money to build or buy other sites, pay yourself a low salary, you'll also need office space, computer, maybe a car, lots of the stuff you would spend the money on anyway. This will solve the tax issue in the short term, when you're making enough that this no longer works you should be banking hard.
this is the best advice.

Similar to what I do. take all earnings into a BUSINESS acc (not a personal one as that is proof of personal income), then pay yourself enough where you slip under the tax rate (i.e in UK it's something like £1k a month). Or stay in a very low band where you only pay say 20% tax which is palatable.

Pay for things like coaching (to make more $), cowork space, new phone, new macbook, VAs through biz account and write it off as biz expense (which is it).. Then use excess money in biz account to grow business further. Running advertisements, paying for guest posts etc..

If you start making say $3k a month and only take out like $1k to survive. Spend the $2k on your business OR other businesses. Then when you're at $10k a month, just keep doing what you're doing. Live off $1k, grow the capital.

You have to spend money to make money. It's a simple as that. Don't spend on yourself what you earn. Live like a bum, and invest into new/existing businesses. It will start to snowball.
 

Tribune

Jr. VIP
Jr. VIP
Joined
Jun 7, 2020
Messages
132
Reaction score
95
Not gonna judge you but in my opinion you have the choice between 2 options:

1: Live a luxury life without fear of your government.
2. Live a slightly more luxury life with constant fear of your government.

I don't know where you live but most governments don't have much humor when it comes to taxes.
I know what I would choose.
 

Raj Kesu

Elite Member
Joined
Oct 13, 2018
Messages
1,600
Reaction score
1,352
No point in keeping your liquid assets in crypto, lol, only a fool would do such a thing.
Keeping funds in a decentralized crypto wallet is extremely safe and if one wants to totally avoid the volatility, one can keep it is a stablecoin such as USDT, DAI (pegged to US Dollar). Anyways, views may differ and that is fine.
 

digitakmagent

Newbie
Joined
Jan 18, 2021
Messages
13
Reaction score
4
use an online bank, and when you have a big amount send it to your account to your local bank.
they can't ask you from where you got it when both account has same names
it's like you funding yourself.
if the online bank ask you from where you got it, say you are a freelancer.
 
Status
Not open for further replies.
Top