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

AmberJones

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tax is just around 5-10% more or less of your income so what's 20 bucks in $400? Peace of mind. and no-hassle .....but it's your choice. Choose hardship, stress, and guilt it's your life anyway LOL rich people are very good at tax evasion so study them and I think there are many members here who are like-minded, you just have to find them here. Where there's a will there's a way
 
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manno4g

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Be glad you don't live in the Netherlands where you pay more than 40% tax. My entire profit goes almost all the way in half, really not relaxed.
 

azem

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i avoid taxes too :)i've been using payoneer for atm withdrawals from years and never had problems
 

lifeisme

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i avoid taxes too :)i've been using payoneer for atm withdrawals from years and never had problems
I hope ur not in any modern world country… when this backfires to you and eventualy it will you will be in a bad situtation
 

azem

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I hope ur not in any modern world country… when this backfires to you and eventualy it will you will be in a bad situtation
im somewhere in europe,somedays i even got 5-6k in atm :) nothing so far hope it will last
 

lifeisme

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im somewhere in europe,somedays i even got 5-6k in atm :) nothing so far hope it will last
Anywhere in eu thats not quite smart tho, while it lasts its ok, once you buy anything expensive or you get flaged it wont be ok, not here to scare you i just know from personal problems i had once they digged deeper.
 

azem

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Anywhere in eu thats not quite smart tho, while it lasts its ok, once you buy anything expensive or you get flaged it wont be ok, not here to scare you i just know from personal problems i had once they digged deeper.
nearly 300k withdrawed,if i reach 1m i dotn care if i have problems :)
 

HustleTong

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Push your daily milestone a bit further and that alone should cover taxes
 

kiks

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First of all pay your taxes!
Go to BULGARIA and start a company you will get taxed only 10% and you will sleep in peace.
 

hadnerd

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Pay your taxes don;t try to hide.
 

FatBee

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If you really try to dodge tax, just don't.
If I were making that much money I'd just pay the tax.

Another option is to open a legit business in your country and abuse TAX LAWS where they allowed you to get back some of the tax money or spend them on expenses.

There are a lot of loop holes to pay less tax and be 100% legit.
 

Redaline

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There are lots of uneducated and inexperienced answers, so let me chime in with some experience.

If you are in 2nd world country and you are doing Stripe payments, chances are that your country will have almost zero chance
to get your data, since US is not answering to anyone. I emphasis "chances are" which doesn't mean 100%.

The best way to test this is to check if your country has signed double taxation avoidance agreement with US: if it didn't, then
you are mostly safe.

Now, there are some advantages of taking care of your income through company, and if you are not in top tier G-8 country there is
a possibility that getting money our of domestic company is somewhat cheap, around maybe 20-30% if taken as dividend.

There is also a chance that you could loan money from the company at discounted rate and use that for your advantage,
let's say to buy real estate and rent it out or as someone suggested, buy and rent Tesla or whatever.

This is also more preferred way to introduce your income to your country as there is a slim change you will be caught
in data exchange operation but rather when someone or something notices that you are buying expensive stuff without any
or low reported income. Most guys failed in exactly that regard.
 

God of Gaypal

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Every Country have different rules,
Use multiple Stripe accounts.
then convert it in to Crypto.
 

clickj4ck

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How can i transfer from Stripe to crypto ?
Open bank account in dubai or any country that has 0% tax. Then get payoneer account . then connect your payneer account to stripe or W/E you're using. Then pay 0% tax.

You can also account to spend money with your payneer ;)

hope that helps :)
 

Jookar

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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.
Be a Good Person of your country and Never avoid to pay taxes but its for every goods
 

Blonsa

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I also don't recommend to avoid paying taxes, it can lead to a disaster, really. I agree with many commenters - find a good accounant, transfer your business to Russian/Bulgaria where are low taxes & SLEEP WELL! Im also from tier 2 country, and with this amount of money even with paying taxes here 23% (income)+social (I don't remember) you still can live great!!!
 

oldguyjoe

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The replies in this thread are sooooooooo damn disappointing, they make me want to puke. Shame on you guys for shilling for your government overlords, who would sell you for a bag of potato and use you as meat shield in case of a conflict. :eek:

First of all, the higher your income, the more painful the taxes are, doesn't matter what percentage. It hurts a lot more, if you are losing an additional house or 2 every year, compared to losing a crappy car every year in paid taxes. Taxation is inherently immoral. Any forced expropriation of your resources, under the threat of violence or incarceration, is theft. If one could directly influence how his money is spent, it would be less sinister, but we are never getting such system.



Now for you OP: With all that said, you still don't want to commit tax evasion. You want to optimize your taxes. First, explore all forms of business formations that are available in your country and compare different taxations. They probably vary in percentages, the levels of progression or being fixed vs. progressive and some may have limitations, such as only applying to young entrepreneurs, or only first year of running your business or only up to a certain level of income... Pick the one with lowest taxation for your use case and start with that.

Educate yourself on which of your existing and future personal expenses can be billed to your company. This varies greatly form country to country. Some are very strict about what you are allowed to bill to your company and who is allowed to use the bought assets, others don't give a damn and it is smooth sailing. Money spent in this way could improve the quality of your life, while reducing your taxable income. All legally. This is the absolute bare minimum that you must do!

Next, go to a tax attorney. Not your accountant, your business accountant will not tell you what is best for you, but what is safest for him, because his ass is on the line as well, if he screws up. Then go to a second one, or 3rd, you can afford it. You want more than one opinion because as in any profession, most people suck and are bad at their job or poorly motivated. One of your lawyers will then help you research your options for further tax optimization. Very likely you'll open your second company abroad, as to where exactly, this depends on where you currently are, but you can be sure you are not going to incorporate in some well known offshore country - that's basically a honeypot at this stage.

There are almost endless combinations of how you can structure your business, but all will involve some form of physical relocation, if you want to legally and safely reduce taxes to under 20% or even to zero. Just having a company abroad is not enough. There are 2 major problems with that. The first and most obvious one is that most countries will tax you again when you take profits out of your company (the company was already taxed on generated profit) and put it in your pocket. You may not want to do that too much. Your second problem is that many tier 1 countries implement tax legislation in a way, where they can argue that your foreign corporation is actually run by you from your domestic location and is therefore null and they'll tax its income as if you made it in your home country. You can't just hire an office and pay one employee 10k a year and then pocket a million, they'll still be able to go after you and claim you are in effect running your company. This is why moving away is the easiest and safest option. Maybe only temporarily. Exact details on how to safely do this will be presented for your use case by an experienced tax lawyer, I can't help you here, even if you told me your country. This process involves you obtaining a tax residency in another country and it normally means you wont' be able to live more than 6 months in your home country - again varies between tax systems, you'll have to learn this locally. Personally, at your levels of income, I would not consider moving away yet. Happy optimizing!



Last words are reserved for the pro-tax people in this thread. Show me which of your tier 1 countries are "building your nation", WHERE? We are not in 1960 anymore! Tier one countries are busy deconstructing your nation and turning you into a stranger in your homeland, enslaving you for your entire life with taxation, brainwashing you through the education system and disrespecting you on a daily basis. Such ungrateful people don't deserve a penny. Most self made people are successful because they personally took action and improved their own skills on their own time. If education system and good infrastructure was the reason for business success, we would be surrounded by millionaires, since tier 1 infrastructure and education is so good, right? LOL.

At the very least, those who contribute the most money and keep funding our society, should enjoy special respect and privileged status among peers. Instead they are spat in their faces and dragged through yellow press daily. I had a longer rant written, but I deleted it, because this is a public forum and there is no upside to saying more. Those who get it, do, others will never understand, because their survival strategy depends on them not understanding and remaining a leech. That is all it comes down to. Survival strategy. If you know you can't produce enough to get ahead, then you only want to take from others.

I have to make an edit and add one of my favorite and copyrighted thought experiments: If tax evasion is stealing from the society (some people believe that)? Who is then actually stealing the most? Tax evaders and optimizers? Or endless crowds of people, who are not able or are unwilling to produce taxable income or even high taxable income? Who is actually depriving the society of much needed resources the most (net figure)? I think the answer to that is clear as a day (damn that was long, I should start a blog instead).
 
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