Screw taxes! Pay taxes or no?

Discussion in 'Taxes and Accounting' started by The Gambler, May 10, 2006.

  1. 1.)Would be interesting to hear feedback: do you forex traders pay your taxes and what are the various laws regarding taxation in various countries?
    2.)What would currently be the easiest (and nicest, civilized) place I could move to to escape this bloody nonsense?

    If you trade anything and get away with not paying taxes (and are not reading this from jail) this is your chance to brag!
  2. I use an offshore broker and only declare the funds I bring in to the country. You need to be careful when it comes to taxes. It wasn't long ago when an old friend of mine who was self-employed decided not to declare apart of his income.

    It didn't take long for the IRS to catch him and impose an heavy fine (3x more than the amount) with possible time, which was later dropped, because he promptly paid the bill.

    Try to consult a tax professional, or if not, at least put in some serious research. There is a lot you can get away with when it comes to taxes, you just need to be careful, so read up as much as you can on the subject.
  3. just pay the taxes....they are not that high in the USA...the Folks that are reading this thread, do not be is simply not worth it to NOT pay taxes..

    You must be in big numbers before considering offshore....
  4. Hawk-fx


    Move to the UK and use a spreadbetting account.
    (You still get 2 pip spread on EUR/USD, 3 pips on GBP/USD)

    Spreadbetting is 100% tax free (and no capital gains tax either) and legal.

    Been completely out of the tax net for 3 years. (normal tax rate for higher earners is 40%)
  5. Could you please explain to me how >50% is "not that high"?