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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.
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.
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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.
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If all your income and expenses are in bitcoin, you don't owe them anything.
Leasing land is a solution for life, after all, why would you want the land after you die? Your descendants can make their own contracts. I learned this here.
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Well, here in Brazil you pay taxes even for breathing, but for example, here with my salary, I pay rent and food, and for everything else here, in your annual tax return, you deduct your expenses for doctors, physical therapists, psychologists, etc.
Since the company gives you a tax discount when you declare them, and you add up your previous expenses, they give you money back. So I've been declaring them these last two years and they give me a portion of the money back, haha. Even if it's a little, it's extra money coming in.
Here in Brazil, you pay a tax called IPTU, which applies if you own land, a house, or an apartment; you can't escape that.
On the other hand, if you have a new car or one less than 20 years old, you pay another tax called IPVA, which you can only escape if you have a car that's over 20 years old.
Otherwise, the idea is, as mentioned above, to live as "legally" as possible. I bought some stocks and real estate funds, received my dividends, and declared them on my taxes. I also bought Bitcoin via P2P. There are some apps that help you spend those BTC if you want.
In addition to that, it would be good to get a second citizenship in another country. Perhaps you have an Italian or Spanish grandparent there, etc. Or, if you live in the US, find a country where you can easily obtain residency.
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Get out there.
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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.
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You sound like one smart cookie
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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.
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If you're in the UK, just don't work. You'll get free money from the govt tax free. They'll also give you a house, help pay your bills and much more.
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It is not India
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.
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Mostly worried about income taxes tbh.
I'm not looking for conventional tax avoidance schemes, but for the new opportunities that Bitcoin brings.
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also talking about income taxes. for the exact same reasons. this is why I know there are companies that know stuff.
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Accelerated depreciation is pretty incredible.
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23 sats \ 0 replies \ @ek 26 Jun
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