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Tax Question

Discussion in 'Business & Tax Advice' started by Sonokai, Aug 20, 2010.

  1. Sonokai

    Sonokai BANNED BANNED

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    So I have thousands of $ in my epassporte account, and my goal is to take it all out without having to pay tax.

    If I transfer it to my bank and write a check to someone, in little amounts like 3k each check, for a total of 50k+ until i have 0$ in my bank and epassporte, would the irs do anything?
     
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  2. Jared255

    Jared255 Jr. Executive VIP Jr. VIP Premium Member

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    Doesn't seem like they're that stupid at all... they will, if they check, see your bank with 3k payments coming in. What is your excuse for writing people checks? If it's "affiliates", you need their W9 I think... this is all speculation though because I have no idea.

    Good advice: Hire a tax lawyer or someone who deals in not paying taxes.
     
  3. Delboy2424

    Delboy2424 Regular Member

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    IRS/Inland Revenue can access financial records and backtrace any transactions they deem to be taxable - if caught, they will fine you and add interest as well.
     
  4. stevemib

    stevemib Jr. VIP Jr. VIP Premium Member

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    Open up a Nevis trust, open up a Cook island company. Have the Nevis trust own the cook company. Open up bank account, get prepay credit card in company name for full anonymity. Voila off the radar. As far as your tx liability with your network reporting requirements that could be a challenge.

    Also no longer is it 10k lump sums deposits or withdraws that get reported, its accumulated over 30 day period I believe. That would require you to get some tx advice as i have been out of that game a bit too long.
     
  5. Affiliate Mgr Dave

    Affiliate Mgr Dave Registered Member

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    The last poster had the safest way for you to avoid taxation, however if caught this method would probably land you jail time since you are showing that you are knowingly avoiding taxes. If you wrote checks out of your bank and never claimed the income you will of course be fined with interest etc but that will happen only if audited. It isn't worth the risk IMO, but you are your own person :)
     
  6. loclhero

    loclhero Supreme Member

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    If you earned the money in the US and you live in the US your aff networks are going to send you a 1099 and will report your earnings to the irs. It doesn't matter what someone on some forum says about "hiding" your money. Pay the fucking taxes.
     
  7. Sonokai

    Sonokai BANNED BANNED

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    Alright well, if i put it all in the bank and have no way of showing i made it online
    fake names etc.

    could i just be able to pay the tax?
    i mean, it's not a lot right?
     
  8. volund

    volund Senior Member

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    There is quite a bit of gray area in the tax code. Hell in some cases you can call the irs three times and get three different answers to the same question. If you use these tactics and get caught they just slap you on the wrist and give you a bill.

    What you are talking about though is outright tax evasion which is another matter altogether. They throw you in jail for that one.


    When you start making enough money so that taxes are really an issue you need to incorporate. This opens the door to a lot of ways to legally lower your taxes without going to jail for tax fraud and evasion. A corporation is like another person so it is allowed to buy things and they are tax deductible. If is something that you can use than so much the better, say like a company car for instance.

    Get yourself a good cpa and tax attorney, while they can seem expensive they will pay for themselves many times over in the long run.
     
  9. krzysiekz

    krzysiekz Senior Member

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    Hi,

    From what I have read before on Epassporte accounts, for $35.00 don't they mail you out a credit card from them. And that credit card is linked to your epassporte account, and you can just put it into an ATM and withdraw money out of it.

    Why don't you do that? That way, it not a 'real' bank account and it has your money on their 'credit card', take it to the ATM and you have your money in your hand, cash, without having to deposit into banks, etc?

    I believe they have a max. ATM withdrawl limit, but if you upgrade/ask them, I think they can increase it (as per their website)

    All in all, you would probably be able to take out $3000 max per week from that. But, why not send some more of the epassporte $$$ to another epassporte account you make, and buy another credit card from them for $35.00 and have two of them, and withdraw from any bank ATM with them?

    Sorry if it's silly, but it is the first thing I thought of when I saw their website..
     
  10. tbrizell

    tbrizell Junior Member

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    I agree with volund, just get a lawyer or cpa and go the route that's recommended. One thing about it if you have large amounts of money coming to you somehow someway the irs will find out and back tax your butt or worst. While it may seem like they are taking a chunk from you at one time it's no where near what that chunk will be if they have to come back and do it to you then and getting the advice of a cpa or tax professional they'll guide you in the direction to where it won't be so bad, as a business and/or homeowner theres all types of things you can write off.
     
  11. CYBERTRON

    CYBERTRON Regular Member

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  12. Sonokai

    Sonokai BANNED BANNED

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    I'm find with paying tax
    as long as they dont ask me where it comes from

    they don't do they?
     
  13. Supplement X

    Supplement X Newbie

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    Money Laundering 101

    Trust me they will catch you maybe not right away but your methods will raise flags...trust me
     
  14. ramdom

    ramdom Junior Member

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    why the Fu%$ you dont wanna pay taxes dude. freaking losser
     
  15. stevemib

    stevemib Jr. VIP Jr. VIP Premium Member

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    Get a consultant that has a solid team behind him. I am not nor will ever say dont pay your taxes.
    I am all about privacy, thats all. Got almost 3000 clients in one year. If your doing something illegal and have chance you get busted then it really doesnt matter where your money is. Well it does but thats another thread. All I did was protect peoples assets. If you dodge the tx man thats your choice.

    The "Pay your fucking taxes" statements......how stupid. Do your homework before you comment on the subject. Just google "rebilling" and all your fricken bail out tax money that went to banks and companies that have "offshore accounts". Do the research ....just go to .gov and all the info is right there.

    I so much wanted to leave this thread alone but some idiots jumped on me. Yes pay your tax. If you want to protect your ass from stupid greedy sh**s then go offshore.

    Hell even your fav football player got away with it...OJ. How much did they get?

    Offshore is all about protection and nothing more.
    Cheers
     
  16. phonev

    phonev Newbie

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    hello, in my advice certainly they will
     
  17. stevemib

    stevemib Jr. VIP Jr. VIP Premium Member

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    Just pick a fortune 500 company and I will show you their offshore companies and rebilling. Did this for a very short time and funded my retirement.
     
  18. teeniegenie

    teeniegenie Supreme Member

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    Offshore costs too much to deal with unless you are making a killing. If you get audited and try to funnel the money out like you propose, you'll get nailed and have a nice little bill to pay, including interest, fees and penalties...Probably not worth the trouble. Just pay what you owe and move on...
     
  19. Sonokai

    Sonokai BANNED BANNED

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    I don't mind paying tax. It's just them asking where the money is coming from that's bugging me. I have tons of accounts with fake names and info they pay me via epassporte and I want to put it in the bank.

    Can I just pay tax without them being all

    "WHERE DID YOU GET THIS MONEY???"
     
  20. Pyronix

    Pyronix Junior Member

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    good luck with that as of 2nd of September 2010 VISA International suspended its business with ePassporte

    http://krebsonsecurity.com/2010/09/visa-blocks-epassporte/