Money Making & TAX [avoid it]

healzer said:
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.
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That would be unwise. You could wake up one morning with your account at zero, that's if you can get into it.

Never use a country that is unstable. Look into taxhaven countries. I would pay my taxes ;)
 
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An offshore Ltd with a debit card would work. You can set up a full company for $1500 first year, next year less than $1000. Looking at European tax rates it worth it even with as low as $10000 yearly income:)
 
MaxBounty is a Canadian company and doesn't report affiliate earnings to the IRS...

...however you should independently report affiliate income and pay taxes on that revenue. No one likes taxes but you'll like the consequences of getting caught much less.
 
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a tax evasion thread lol. probably a better idea to just pay those taxes, i mean there is black hat seo - but tax evasion is a whole new ball game no.
 
jp sauve said:
MaxBounty is a Canadian company and doesn't report affiliate earnings to the IRS...

...however you should pay taxes on your revenue. No one likes taxes but you'll like the consequences of getting caught much less.
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Do they report affiliate earnings to CRA?
 
Guys seriously, I know were in a Blackhat forum but: Why not just pay the taxes? If everybody would act like that there would be no infrastructure, no schools almost nothing.
 
Man are you serious?

Open an account (that issues a CC) for a designer or a programmer, make sure that the CC gets to a P.O. box

Pay the professional help you get

Use the CC
 
Rockraider said:
Guys seriously, I know were in a Blackhat forum but: Why not just pay the taxes? If everybody would act like that there would be no infrastructure, no schools almost nothing.
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Socialist!!!!

Joking.

Seriously though, the more well off in ALL countries pay less tax as a % of their earnings compared to the humble office drone/manual worker. This is because they arbitrage differences in jurisdiction and use corporate identities, trusts and so forth. The BH mindset seeks 'gaps' in the internet where there is the opportunity for profit. In the case of taxes, my STRONG advice is dont avoid them, but legally reduce them to as little as possible.

As for countries needing the money for infrastructure etc, that could all be handled by consumption taxes - you use, you pay. The tax burden in most of the west, is simply to fund civil servants wages, pay interest on debts, and fund special interests which sadly often involves war. Then when you have to deal with a government department they make your life amazingly difficult with paperwork and red tape, to justify their jobs, which you pay for.

I always liken this to a thief stealing from your house, and then taking a shit on the carpet for kicks.

BH makes me a citizen of the world, I'll go where its sunny and where there is a minimum of pencil pushers. I'll structure my business in the most tax efficient way possible.
 
It's not the I don't wanna be taxes part it's just

If you work your but off and you become succesfull you get punished. Here (belgium) it's crazy paying half of your money to taxes because your succesfull.

F that
 
zen19 said:
The paypal/payoneer/plimus cards are small scale. Would you really want 100k sitting in a paypal account??

You need to think in terms of transnational holding companies, trusts, and other LEGAL methods for minimizing tax. Consider that Google pays about 3% company tax, and until Obamas dividend tax rate increase (next year I think) their top people could pay around 15% tax on their earnings which are in the form of company dividends rather than wages/salaries.

Look for variances between countries - thats what the big MNC's do.
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Just to be clear.
From a small business perspective, that does not get huge tax incentives like google/GE, dividends are taxed first as company profit (30%) then as dividends (15%)
Meaning 45% tax...
The only exception is trusts which yield a benefit without dividends.

Avoiding taxes to take out raw cash for a small business is a very difficult thing to do without foreign companies (not too difficult to set up). But if you haven't been in the game for long (like myself) I've set it up to buy property in trusts or other fixed assets... REITs work.

Guys seriously, I know were in a Blackhat forum but: Why not just pay the taxes? If everybody would act like that there would be no infrastructure, no schools almost nothing.
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My question is...
Why pay taxes?
 
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I live in Romania.There's no taxes for internet money :D Gota love this country :o
 
Not paying taxes = jail time. You spend more time in jail for tax evasion than you would for killing someone. The Feds take it very seriously. Worth the risk? I don't think so.
 
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jp sauve said:
Not paying taxes = jail time. You spend more time in jail for tax evasion than you would for killing someone. The Feds that it very seriously. Worth the risk? I don't think so.
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There's a huge difference between tax evasion and using legal tax loopholes.
 
Rockraider said:
Guys seriously, I know were in a Blackhat forum but: Why not just pay the taxes? If everybody would act like that there would be no infrastructure, no schools almost nothing.
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Taxes are made so your government can pay of the debt on the money it borrows from the central banks which it creates OUT OF THIN AIR.

The government passes the debt onto you and needs to borrow more money to pay off the interest included with the money that it first borrowed, thus entering a vicious cycle of debt and inflation.

The rich get rich and the poor get poorer, why would you want to give away your hard earned cash to the government that operates under such fallacies?
 
Just pay the god damn taxes.

No matter what the crazy conspiracy theorists say, the government uses your tax dollars to keep your roads in decent shape, to make sure you aren't eating rats in your mcdonalds, to make sure the doctor you go to when you're sick has a set of standards he has to pass so he is capable of helping you, etc. Go live somewhere else if you don't want to pay the taxes.
 
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