Hi bb1webs!
I’ve considered just leaving, but that would make it complicated to ever come back to Canada even just to visit. I’ve considered Belize, Panama, & the Turks & Caicos. But I dont want to be a fugitive from anyone, & it would be unfair to ask my gf (future wife to be) to move away and not expect her to be able to visit her family.
At the rate I was going i probably would have had to pay taxes with new penalties and interest for the next 12 years so, instead I decided to declare bankruptcy. The shitty deal is that I lose all of my investments and the money in my bank accounts. But I do get to keep all my furniture and 40k equity in my house. I also get to keep all my computer and office equipment since I’m allowed up to 10k of assets to earn a living. The other shitty deal is that in the next 9 months I only get to keep 25% of my after tax income. But even this isn’t so bad. I can spend as much as I want on business, so you can bet that I’m going to invest as much as I can on my business and earn the least amount of money that I can!
In a little less than 9 months I’ll be free to do what I want. I wont have much of a credit rating, but I should be making enough money to pretty much pay cash for anything anyway.
A lot of people dont recommend the solution that I took, but in my circumstances it was the best one. I get to keep my business & my websites and that’s a lot more important than short term profits. I also have peace of mind which is worth a lot.
But thank you for thinking about me!
Antoine