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Its inflation that’s the problem. US income taxes are the lowest they’ve ever been plus there are a lot more deductions. Bush, Reagan and Kennedy lowered taxes considerable.
2008 tax rate on $50K – 15%, on $200K – 33%
1981 tax rate on $50K – 49%, on $200K – 70%
1961 tax rate on $50K – 59%, on $200K – 87%Before the Reagan tax cuts the tax rate on $400k was 91% today its 35%
@slotplayer 156994 wrote:
Its inflation that’s the problem. US income taxes are the lowest they’ve ever been plus there are a lot more deductions. Bush, Reagan and Kennedy lowered taxes considerable.
2008 tax rate on $50K – 15%, on $200K – 33%
1981 tax rate on $50K – 49%, on $200K – 70%
1961 tax rate on $50K – 59%, on $200K – 87%Before the Reagan tax cuts the tax rate on $400k was 91% today its 35%
Where did you possibly find these #’s
@allfreechips 157004 wrote:
Where did you possibly find these #’s
xhttp://www.taxfoundation.org/publications/show/151.html
there is no actual law that you have to pay, its really a volinatry system.. Problem is they will hold you in prision for 40 years while you try to prove that.
No you wont come on, stop being melodramatic. I know of one instance where a person didnt pay taxes on 2 million and only got 2 years in the joint. They will, however; levy a lean which is worse. Then it screws your credit for 10 years from the time you pay off the lean. With that on your record no mortgage company will dare touch you.
I know of one instance where a person didnt pay taxes on 2 million and only got 2 years in the joint.
1 day would be way to too damn long for me! The IRS will seize your bank accounts, take your house, car and passport etc if you do not pay your taxes. Just seems so much easier to pay your due and be done.
lol I was going to say if you want to do 2 years behind bars go ahead :wink-wink
I like big burly men.
I only have one thing to say: ask Mr Snipes how he bet the IRS by not paying his taxes
If you receive money outside of your country( I mean banks in other countries or offshore zones) you may not pay taxes. BUT if you receive money through banks located in your country you must pay taxes.
I receive the money from Neteller and I am living in the Netherlands and I do have to pay taxes, quite a bit(e) (42)% I can tell you.
If you want to save taxes in the Netherlands for example you have to have your own company and a Holding than you have to pay 25% but that’s something I have to do more research for.
Not paying taxes will bring you into trouble for sure .
Rick
According to Hong Kong law, if HK resident has income from outside Hong Kong, you don’t need to pay for tax. It is very simply, go to Shen Zhen China, an hour railway away from Tsim Sha Tsui, to open an account of Chinese mainland bank to receive your affiliate payment.
Bet169-moneyexchange;156953 wrote:I think it is also a matter of your money management. Those are your earning, if carefully planned, and legally, 20%-40% down to 0%-20% is quite possible. It may be a tedious task at the beginning, but if you want to do affiliate as very long term, it is good to do some research on setting up corporation in other contries for placing your income.I get paid all my commission in my business acct in canada .I am glad to pay my taxes as I sleep at night knowing i am doing nothing wrong.It also motivates me to earn more money.In 2008 ,ill pay extra 18% tax and to justify it in my mind ill have to increase my income by 18%.
People who think offshore will save you from the tax man probably will be wrong , Iuse to think paypal was safe but in 2007 revenue canada won right for ebay and paypal to send them the info on who is making more than $1000 a month that way.Lucky for me I only started taking paypal in 2007 but my initial thought was I can send paypal to my daughter’s acct to start her school fund without even worrying about taxes.
On our tax forms here in canada it actually asks about foreign investments and assets outside the country ,if you lie on that form then you are guilty under the income tax act.But at the end of the day you have to access your own risk tolerance -like playing the stock market . For me cheating on my taxes is not an option .It varies depend on different countries. As a Hong Kong resident, I am very lucky. I don’t have to pay for any tax if the income origin is out of Hong Kong. Only the income originally generated in HK SAR PRC, income tax applies. 15% for indiviual and 16.5% for business. It is legal that I receive money in China if the income origin is from out of Hong Kong.
