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Withdrawing the money

Discussion in 'Business & Tax Advice' started by D3lux3, Mar 12, 2010.

  1. D3lux3

    D3lux3 Power Member

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    So I have just been contacted by my AM and he sad he can put me on weeklies. This means I get paid weekly by checks as far as I understand him. The other option is to get payed to paypal (monthly) but as he sad they make a bigger check on traffic source and so on if you withdraw to paypal.

    Anyhow the question is:

    I am not so worried about checking my traffic more I am worried about taxes here in Slovenia. We have a 20% tax to income (I think me as a student can earn 3k? or something) however how does it goes if they pay me by cheque ? I get the cheque, go to bank and I get the money ? Any provisions here ? Taxes etc. ?
    So if they pay me to paypal (I have the limit per year). Can I get the money to neteller via net+ card ? Whats the yearly limit on paypal if you increase it (upload copy of ids and bank statement)?

    What do you people normaly practice (mostly I want to know for european countries) ?

    Thank you for your answers.
     
  2. Matt123

    Matt123 Junior Member

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    Ok i have never seen any post what i am about to but here goes if you like my method feel free to Thank. What you can do is set up a paypal account and then when it ask you to add a bank account you want to go to rushcard.com and apply for a card. They will send you a card with your name and what not. once you get the card you can add it to your paypal and get verified with the 2 test deposits. This will let you get around having to pay the taxes and also let you get around having to add a bank account with your personal info. Just watch for paypal cause they are soposto be reporting to IRS in next year or so. Hope this helps you out.
     
  3. loclhero

    loclhero Supreme Member

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    Uhh...sorry to burst your bubble here but you couldn't be more wrong. Whether paypal reports income or not is not even the issue. Your network, whomever it is, will absolutely, without doubt, report every dime you earn if you make over $600. Paypal is not the company paying you nor are they the company who is required to issue you a 1099.
     
  4. loclhero

    loclhero Supreme Member

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    Where are you people getting this bogus information from? This is utter bullshit.
     
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  5. loclhero

    loclhero Supreme Member

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    Oh...my bad then. I just would hate to see someone who made some money and not report it as income only to have the irs come back a year or so later and say pay up PLUS penalties and interest.

    So what you guys are saying is that if someone is selling an ebook or even something like pva's or whatever and he uses paypal, those fuckers are going to start reporting it to the irs?? WTF? What do they care? God I hate paypal, ebay, google, all of them.
     
  6. clposterboy

    clposterboy Junior Member

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    So which are the options to withdraw money if you dont have a tax ID?
     
  7. savvypro

    savvypro Regular Member

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    OP is from Slovenia (stated in post), so US taxes/IRS reporting is irrelevant as OP would be classified as a Nonresident Alien - see IRS Publication 519.

    I read in some threads that if you have a Payoneer card you could ask to have a Virtual Bank Account setup on your account. Could be the way to go.
     
  8. D3lux3

    D3lux3 Power Member

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    Yeah we are going away from the thread a little. Thank you all but I really need information for europe countries. Maybe registering an account in other country ?
     
  9. HoNeYBiRD

    HoNeYBiRD Jr. VIP Jr. VIP

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    Payoneer Virtual Bank Account for US residents only and it's still in beta
     
  10. HoNeYBiRD

    HoNeYBiRD Jr. VIP Jr. VIP

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    a payoneer card could work, if your network/AM can send the money to you this way
    although it has loading limits (i think $500.00 per once), so if you earn high figures maybe it's not the best option
    you can apply for one through a network like aff, loadedcash...you'll get the card via mail in 3 weeks, it's issued by an US bank (atm MetaBank)
    and i think the Slovenian IRS :) don't check these type of cards, maybe...but i dunno
    im your neighbour btw :)
     
    Last edited: Mar 13, 2010
  11. savvypro

    savvypro Regular Member

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    They also allowed internationals on the beta - which is why I suggested it.
     
  12. HoNeYBiRD

    HoNeYBiRD Jr. VIP Jr. VIP

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    since when and what's your source?
    on their forum they clearly stated that the virtual account is for US residents only...
     
  13. savvypro

    savvypro Regular Member

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  14. D3lux3

    D3lux3 Power Member

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    Honestly I am still not quite sure what to do ? :p Any more suggestions ? :)
     
  15. savvypro

    savvypro Regular Member

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    I was going to say: you should find out if Slovenia taxes income by territory. The following is from the European Commission website:

    The important bits I put in bold.

    The two options you have is:
    1. Become a non-resident - which sounds as if it's not an option.
    2. Don't earn the money in your name. Set up a company, have it earn all the money and ensure that no profit is made ;).
     
  16. neuromancerx

    neuromancerx Registered Member

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    if your guy can pay you out in webmoney WME(eur) then you can get this
    https://cards.wmtransfer.com/en and withdraw euros in cash, paying zero tax. fee is 1.08% to load, and 2% plus 3euros to withdraw.


    if you are making a lot of money, you need an offshore corporation.
    http://www.freedomoffshore.com/Seychellesibc.html (site run by a guy from the talkgold forum)

    register seychelles or belize IBC ($900-1300 USD the 1st yr, then $300 per yr depending on who you buy it from), and it comes with latvian or cyprus bank accounts completely under anonymous names. then you are fully protected from any tax authority finding out who you are. he can wire you the money directly, or even mail a cheque to the bank and they will put it into your account.

    or buy this anon debit card http://www.freedomoffshore.com/offshoredebitcard.html and hopefully they can wire it directly, skipping paypal all together.

    or you could buy a pro fake ID made in china, and mailed to your house for $90usd to use to get this debit card or anothers like it http://www.mobilmat.com/index.php?option=com_content&task=view&id=13&Itemid=46 or for cashing cheques.
     
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    Last edited: Mar 18, 2010
  17. D3lux3

    D3lux3 Power Member

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    Thanks neuromancerx really usefull info there :D
     
  18. savvypro

    savvypro Regular Member

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    The above should start sounding alarm bells, if the account is in someone else's name - you better make sure you really trust them. As there is nothing to stop them from keeping all the money you worked hard to earn.
     
  19. loamigad

    loamigad Jr. VIP Jr. VIP

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    lol dude get an accountant or something. Since listening to tax advice from people, who aren't even from your country... Sounds like a smart financial decision in my ears rofl.
     
  20. captain.jack

    captain.jack Newbie

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    wow that so real bullshit maybe, if you got payment do it by paypal, it really simple as i know.