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Living a tax-free live....where do I start?

Discussion in 'Business & Tax Advice' started by fuzzy_corleone, May 13, 2011.

  1. fuzzy_corleone

    fuzzy_corleone Regular Member

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    I actually have a ton of questions regarding living a tax-free life but I don't want to bombard you guys with a plethora of questions. I'll start small.

    Anyway, I'm a freelancer web designer living in the United States and I don't think our corrupt, immoral, and ever-expanding socialist government deserves a cut of my annual income. I've recently discovered that there are various ways to legally avoid paying income tax (tax avoidance).

    Can't Use PayPal
    Well first off I want to use an alternative method in receiving payment from my clients. The reason being, despite the convenience of paypal, is because of a law that was recently passed. This law requires that paypal and other payment processors (google checkout, etc.) to report people to the IRS once they've reached a threshold ($20k gross income and 200 transactions). So essentially if I move too much money through paypal then the IRS will know about it (which is something I don't want).

    Is there a paypal alternative I can use to accept payment from my clients over the internet?

    Which Country?
    So which country is the best to do my offshore banking? Panama? Belize? I want to be able to open a bank account online rather than physically fly to one of those countries. Is it better to do anonymous offshore banking or should I use my real name?

    Paper Trail
    I'm guessing that criminals (mobsters and drug dealers) are able to pay little or no taxes by hiding their assets....."hard" cash as opposed to storing it in a bank account which would be visible to federal agents. I'd imagine moving my money around the internet would leave a "paper" trail (a record of the transaction that would be available to investigators).

    With that in mind how would I make deposits to my offshore bank account? Won't moving my money from my US bank account to a Belize (for example) account only make it easier for the IRS to know I have an offshore account?

    Thank you for your time.
     
    Last edited: May 13, 2011
  2. efwebs

    efwebs Regular Member

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    For it to be legal, you need a permanent residence in another country.
     
  3. dgruergerugerhiye

    dgruergerugerhiye BANNED BANNED Jr. VIP Premium Member

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    Start here: http://www.sovereignman.com/
     
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  4. fuzzy_corleone

    fuzzy_corleone Regular Member

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    Even if I moved to another country and made a living there I would still be required to pay taxes to the IRS (which is extraordinarily ridiculous). Be sure to google, "irs worldwide income".
     
  5. iseegreen

    iseegreen Power Member

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    you need to hold assets in other currencies than USD

    and you need to open an account in a country that doesn't have an agreement with the IRS/USA to report US account holders.

    As if you have a USD bank account or hold USD in a bank account with any bank anywhere in the world - then the bank is required to report it if asked - otherwise they will just pull their licence to operate in the USA... even if that is just a correspondent account.

    So you will need to look into a European Tax Haven.

    Lastly it doesn't help to use an ATM - if you keep the money in USD - as those transactions can be traced.

    So yes you can be anonymous to a large extent - but you need to be extremely careful how you do it - as once you break the law and are found out the penalties are brutal.
     
  6. fabzz

    fabzz Junior Member

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    Tricking your government with offshore bank accounts is the exact opposite of "legal" - you can get jailed for this.
     
  7. fuzzy_corleone

    fuzzy_corleone Regular Member

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    Ok then. How do I live a tax-free live then?
     
  8. milton

    milton Regular Member

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    Honestly dude, smarter and richer men have tried this and all have failed before you. Just pay your taxes. The IRS is the most thorough agency the U.S. government has... they are blood hounds to cash... I think they hired ex mobsters and drug dealers...
     
  9. BHopkins

    BHopkins Moderator Staff Member Moderator Jr. VIP

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    Make $0 income this year...in fact you might get a credit!
     
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  10. Flurbuff

    Flurbuff Regular Member

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    If a person put the same time and effort into scaling up as they might trying to avoid taxes they would make more profit in the end I'm sure. Even if you don't like something your particular government is doing, the fact remains that you wouldn't be making any profit at all if it wasn't for the society they help maintain.

    If this weren't true then Somalia would be a safe paradise.

    Best bet is to put more time into making money and hire a pro to get you all the deductions possible. Less headache and more money in the end.
     
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  11. Virus1

    Virus1 Supreme Member

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    Occupation:
    destroyer of worlds...
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    Welcome to Black Hat World........................
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    The IRS is real good at catching people evading taxes...

    If bin laden had done tax evasion....
    the IRS would of gotten him years before the seal unit got him...
     
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  12. Bostoncab

    Bostoncab Elite Member

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    The key is to have assets that correspond the income.

    If you made no money how do you own anything? The hard part isnt making money and not paying taxes on it. The hard part is what you do with that money when you have it. Can`t put it in the bank and nothing you buy can legally be yours.
     
  13. juztin

    juztin Newbie

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    Have you heard about a man named Wesley Snipes?
    lol

    No seriously I dont know why americans are trying to avoid taxes that bad...but yeah maybe your government spend it uselessly and abuse the taxes..

    One tip though..dont come to Canada...if you reach 100k I believe they take 40% of whatever you make. Right now I am getting taxed pretty much.. I complaint about it sometimes...but hey, when I think about it, my life is not bad and I am glad I can help someone with my taxes.
    And it does feel good to know that I live in a society where people help each other...I am happy to help someones kids, parents, wife, husband..knowing I will get the same treatment when needed.

    but yeah anyways...good luck not paying taxes...
     
  14. J1218

    J1218 Power Member

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    Unfortunately, that's not where the taxes in the US are going to.

    The only people that get helped by us paying taxes are the minorities down at the welfare lines on the 1st and 15th waiting on their government checks just because they have 9 kids and "can't get a job".

    Other than that, I have no clue where my tax dollars are going, but I'm sure most of it is not for as good a cause as it could be.

    Either way, when you break it down, WE are the ones making the money, why should ANYONE, including the government, be able to take it from us? It's a legal way for them to steal our money, that's all.

    I thought we were on BHW, not the Warrior forum. We break rules over here and live outside the box.

    Is tax evasion illegal? Yes. Is it wrong? In my opinion, not at all.

    Anyway, I think if you really want to be safe, you will want to at least show some sort of income to the government and pay taxes on that. Stick the rest in an offshore account through an offshore LLC or corporation.

    So if you make 200k in a year, show 50k to the government and claim that (and also make use of your write-offs to lower the taxable income), and then put the rest in your offshore account.

    That way you don't look suspicious if the government wonders how you own a house, car, boat, or whatever else but claim no income. Then if you have some real expensive items like luxury cars, title those under the name of an LLC that has no ties to you.

    On the outside, you will look like a normal, tax paying citizen that makes 50k per year and pays taxes on that 50k. Unless you do something really stupid to slip up, why would they even look any further at you?

    Just be smart about it. Of course you're taking a big risk, but to some people, the risk is worth the reward.

    You could also just make it easier and move to another country that doesn't have taxes, but it doesn't sound like that's what you really want to do.

    Oh yeah, a little disclaimer: I'm not a lawyer and this is not intended to be legal advice :D
     
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  15. KraftyKyle

    KraftyKyle Jr. Executive VIP Jr. VIP Premium Member

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    Step One) find a comfortable place to lay down

    Step Two) fall asleep

    Step Three) when in a dreaming state, you may now find it possible to live a tax-free life
     
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  16. heiska

    heiska Junior Member

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    Web designing, yeah right Corleone :D. Why don't you just ask your godfather, Vito?

    I fucking love The Godfather 1 & 2.
     
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  17. treelancer

    treelancer Junior Member

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    Step 1: Don't post your illegal tax evasion plans on an open forum....


    Whoops too late.
     
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  18. stressfree

    stressfree Senior Member

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    NO you move to a tax free couintry and denounce your US citizen ship. That's the only legal way. Ask Wesley Snipes about it!
     
  19. stressfree

    stressfree Senior Member

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    well to be fairw who pays for he policing/schooling/parks/Legal system/Jails etc? Go and live in Latine America or some "free tax" sh** hole and see how it compares... Pray you never have to rely on their currupt police/legal system at any time for help...

     
  20. fuzzy_corleone

    fuzzy_corleone Regular Member

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    Thank you for posting this. You took the words out of my mouth. I'm actually surprised at some of the responses here. This is a "black hat" forum so I assumed everyone here likes to break rules and lives/thinks outside the box. The pro-government/taxes b.s. that some people spew out is almost as bad as some of my black friends who blindly support Obama without knowing much about what he's doing.

    Anyway, as I said earlier I don't think simply moving out of the country would grant me the freedom I desire. The IRS still taxes you on worldwide income. And renunciation of your U.S. citizenship is a long and complicated process whihc would result in me being 'stateless'.
     
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    Last edited: May 13, 2011