How to live without paying taxes in western countries? \ stacker news ~AskSN

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How to live without paying taxes in western countries?

First of all, is it possible to live a comfortable life (in western countries) without paying taxes?

If so, how?

Let's assume you can earn Bitcoin from your own online business or working for others, but in any case anonymously. Great.

Can you buy a property? Probably not without getting a tax inspector at your door.

Can you rent forever a decent house, travel, build a family, ... and avoid getting in trouble?

If so, how?

Not trying to discourage anyone, just the opposite. But being practical and realistic. Probably the answer is some middle ground where you have some shy income known to the state and a huge bag of corn on your own.

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100 sats \ 0 replies \ @justin_shocknet 10h

Yes.

I think that statistically speaking most people do it already. You have to give the government a free loan throughout the year, but it gets returned and then some.

Have wife

Have kids

Buy rural homestead

1099 yourself from your business less than ~80k or so per year depending on the number of kids.

Profit.

They'll literally pay you to live here if you're not retarded.

46 sats \ 2 replies \ @grayruby 10h

It's difficult to avoid paying all taxes but you can definitely avoid paying income taxes. It's dependent on how much you earn, how you earn it and your ability to utilize loopholes available to you. I haven't paid any income taxes in the last 3 years. However, I have only been working part time contract jobs and I pass the income through a business where I write a bunch of expenses off to lower my income below the threshold for paying income tax in Canada. I do have to remit sales tax my business collects though but after offsetting sales tax paid on business expenses it is usually only a few hundred bucks a year.

40 sats \ 1 reply \ @WeAreAllSatoshi 2h

You sound like one smart cookie

50 sats \ 0 replies \ @grayruby 1h

We had a really good accountant for our business. He taught me a lot about how to minimize taxes and fly under the radar from audits.

59 sats \ 0 replies \ @Coinsreporter 13h

EVERYTHING is POSSIBLE… you can always choose NOT to pay income taxes (THERE ARE OTHER TAXES WHICH ARE INDIRECT AND YOU CAN'T ESCAPE THEM) .....maybe you get lucky for any reason they don't come after you and you lead a normal comfortable life … and you choose the consequences of that decision, as well.

Now to answer - IF SO HOW?

Just study the law regarding this and do whatever makes you less and less compliant. for example, In India agriculture is out of taxation, so being a farmer makes you less compliant and escape this system. AND.... I'd suggest you finding loopholes in the law of whatever land you're in, just to be prepared in case you ever need to fight it out.

23 sats \ 0 replies \ @ek 8h

If so, how?

be unemployed (I assume you only mean income tax)

edit:

a comfortable life

oh, missed that part

0 sats \ 2 replies \ @rootmachine 10h

zero taxes I doubt. some taxes you cannot escape from. almost zero taxes is super hard. you have to be ready to face backlash at any given time. in some countries there are companies that are making big numbers from teaching you how to avoid taxes. maybe you should look this up as a starting point.

0 sats \ 1 reply \ @klk OP 10h

Mostly worried about income taxes tbh.

I'm not looking for conventional tax avoidance schemes, but for the new opportunities that Bitcoin brings.

0 sats \ 0 replies \ @rootmachine 10h

also talking about income taxes. for the exact same reasons. this is why I know there are companies that know stuff.

0 sats \ 0 replies \ @Scoresby 12h

Accelerated depreciation is pretty incredible.