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Money Making & TAX [avoid it]

Discussion in 'Black Hat SEO' started by healzer, Sep 24, 2011.

  1. healzer

    healzer Jr. Executive VIP Jr. VIP Premium Member

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    Since I start earning good money these days... we are required to pay taxes from our earnings...which sucks seriously.

    In live in Belgium & we are required to pay 30-65% of our earnings to the government (as a tax) ; if you earn more than 5000?/year.

    How do you guys prevent/avoid paying taxes?
     
  2. 5VM5UN6

    5VM5UN6 Registered Member

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    Is the tax applied to income or to the whole money coming in from your business? 'Cause I'm pretty sure you can write off 90% of the money as the cost of business like real expensive hosting (server sitting in your closet), programmers, designers and etc. The point is not to show the whole money as a profit, it should circulate within your business as some sort of asset.
     
  3. healzer

    healzer Jr. Executive VIP Jr. VIP Premium Member

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    The problem is:

    my CPA pays using Check, Wire transfer or Paypal...
    in order to receive the money you need a bank account. Every bank acc in my country is being checked by the government of course inorder to prevent black money....
     
  4. Evan Foster

    Evan Foster Junior Member

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    just earn less than 5000?/year.
     
  5. Evan Foster

    Evan Foster Junior Member

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    Yes, Write of most of earnings as expenses.
     
  6. ahiddenman

    ahiddenman Elite Member

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    Trade bitcoins lol
     
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  7. ghettogong

    ghettogong Regular Member

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    Guys, you can write off expenses, but u have to show the invoices for that. You can buy computers, paper, and other biz related things to deduct from your income, but you wont gain anything.

    Thinking of a solid solution myself. I have started with a construction where you will be paying expenses to a webdesigner somewhere in Asia. But actually that webdesigner will be you ;-)

    GhettoGong
     
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  8. healzer

    healzer Jr. Executive VIP Jr. VIP Premium Member

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    I don't own a business... I'm 17... I was thinking of using a bank somewhere in a corrupt country to transfer the money to.
     
  9. ahiddenman

    ahiddenman Elite Member

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    @athleted123

    I didnt nick your banner , It was given to me by Superlinks haha
     
  10. GreyWolf

    GreyWolf Executive VIP Jr. VIP

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    Yes but the government doesn't necessarily look at that the same as they do income for an employee. You're basically a sole proprietor business and that check is your gross profit. What the tax collectors will want to see is your bookkeeping that itemizes all your business related expenses and then subtracts them from that gross profit to show what your actual net profit is. That final Net Profit figure is the one they'll be taxing you on.

    So your goal is to make sure you have all your expenses accounted for that are involved in making that money, so that you'll only have to pay taxes on you're actual profit. You're goal is to make sure that the taxes you do pay are only those you owe. If you spend $500 to make $800, then you don't owe income tax for the $800 because your actual income from the deal is only $200. In that case the $200 is what you're supposed to pay taxes on.

    The way to make sure that happens is to do some bookkeeping and make sure you account for all your expenses.

    As far as not paying taxes at all...
    Well..., even if you think the government doesn't always use it's money wisely, it's still responsible for the roads you drive on, the police that protect you, the agencies that make sure the food and products you use are safe, (even health care in some countries), in fact the whole infrastructure that you depend on everyday. If you get any benefit from all that (and you do, even if you want to deny it. lol) then you shouldn't be against paying taxes.

    You just want them to be reasonable taxes on what you actually earn so that you're only paying your for fair share.


    To some extent yes, but overall they aren't going over your books that thoroughly, they mostly just want to make sure the expenses you claim are reasonable and applicable. Unless your books are audited the actual proof in the form of receipts won't be an issue. Although there are ways to deal with it that will even help in that event.

    That's one of those ways. lol :pirate:


    edit -
    OK, so $800 - $500 actually equals $300. It take some extra creative bookkeeping to make it equal $200. lol. Thanks for pointing out my error plerer. :cool:
     
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    Last edited: Sep 25, 2011
  11. ahiddenman

    ahiddenman Elite Member

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    LOL , Brothers in arms ! :saeek::saeek::saeek::saeek:
     
  12. peppe

    peppe Regular Member

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    I'm from belgium too and I was thinking the same thing.

    If you make 2k a month just take 500 as profit and the rest you sent threw paypal as payment for traffic or websites etc etc.


    Even tho banks will only get red flagged if the amounts of money are high
     
  13. healzer

    healzer Jr. Executive VIP Jr. VIP Premium Member

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    yea but still, even if the amounts are low, on a long term they just might look at you :)
     
  14. SilverSultan

    SilverSultan Regular Member

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    Where you think ? xD
    You Live in Belgium but never used a Secret off shore account? SWISS come in mind, Linechisten, and others, come on man,
     
  15. healzer

    healzer Jr. Executive VIP Jr. VIP Premium Member

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    as athleted123 said:

    These days they do not provide any security for your money anymore... times change man :)
    they'll find you in matter of seconds anyways (no privacy , no piracy)
     
  16. royal2b

    royal2b Regular Member

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    open an account in the cook islands ..
     
  17. pokerjk

    pokerjk Senior Member

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    We all have to pay tax's man.... its the way of the world.
     
  18. drac313

    drac313 Junior Member

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    YAY socialist countries taking more than half the money you work hard for! But seriously, hire someone to launder that shit overseas :usa:
     
  19. healzer

    healzer Jr. Executive VIP Jr. VIP Premium Member

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    We work hard to earn money... they rip off 30-65% of your earnings, thats bullsHSIT
     
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  20. bigballin6161

    bigballin6161 Jr. VIP Jr. VIP Premium Member

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    Could you please elaborate on this idea....like how the hell do you do that?