Tax Evasion and Money Laundering

Brucelee · Jun 23, 2007

Quote from BJL:

Some countries in Europe. I live in the Netherlands for instance and we don't pay capital gains taxes.

That might be true if you can prove to the Tax authorities that you are paying taxes from another source of income. If you are resident in the NL, legally that is, you will have to submit a Tax return and pay social welfare payments out of income derived from any where in the world created whilst resident in NL. Capital Gains are taxed at 25%. Believe me, I am married to a Dutch woman and I have looked into moving to the Netherlands and the tax implications.

http://www.expatax.nl/incometaxexpatax.htm#V

fallingcold · Jun 23, 2007

Good one!!!

Quote from nutmeg:

Enclosed you will find my 2006 tax return showing that I owe
$3,407.00 in taxes. Please note the attached article from the USA
Today newspaper, dated 12 November, wherein you will see the
Pentagon (Department of Defense) is paying
$171.50 per hammer and NASA has paid $600.00 per toilet seat.

I am enclosing four (4) toilet seats (valued @ $2,400) and six
(6) hammers valued @ $1,029), which I secured at Home Depot,
bringing my total remittance to $3,429.00. Please apply the
overpayment of $22.00 to the Presidential Election Fund, as
noted on my return. You can do this inexpensively by sending them
one (1) 1.5 Phillips Head screw (see aforementioned article from
USA Today newspaper detailing how H.U.D. pays $22.00 each for
1.5 Phillips Head Screws). One screw is enclosed for your
convenience.

djxput · Jun 23, 2007

Quote from nutmeg:

Enclosed you will find my 2006 tax return showing that I owe
$3,407.00 in taxes. Please note the attached article from the USA
Today newspaper, dated 12 November, wherein you will see the
Pentagon (Department of Defense) is paying
$171.50 per hammer and NASA has paid $600.00 per toilet seat.

I am enclosing four (4) toilet seats (valued @ $2,400) and six
(6) hammers valued @ $1,029), which I secured at Home Depot,
bringing my total remittance to $3,429.00. Please apply the
overpayment of $22.00 to the Presidential Election Fund, as
noted on my return. You can do this inexpensively by sending them
one (1) 1.5 Phillips Head screw (see aforementioned article from
USA Today newspaper detailing how H.U.D. pays $22.00 each for
1.5 Phillips Head Screws). One screw is enclosed for your
convenience.

LoL that made me laugh

BJL · Jun 23, 2007

Quote from Brucelee:

That might be true if you can prove to the Tax authorities that you are paying taxes from another source of income. If you are resident in the NL, legally that is, you will have to submit a Tax return and pay social welfare payments out of income derived from any where in the world created whilst resident in NL. Capital Gains are taxed at 25%. Believe me, I am married to a Dutch woman and I have looked into moving to the Netherlands and the tax implications.

http://www.expatax.nl/incometaxexpatax.htm#V

Incorrect. I should know. I am Dutch and have been a full time trader for the last 5 years.

Capital gains are not taxed.
See: http://www.expatax.nl/incometaxexpatax.htm#Box 3

mister_doodi · Jun 23, 2007

Do retail forex firms report to the IRS?

Champion · Jun 23, 2007

Tax Evasion and Money Laundering?Tax evasion and money laundering are illegal. Tax avoidance is legal.

EdgeHunter · Jun 23, 2007

Quote from Champion:

Tax Evasion and Money Laundering?Tax evasion and money laundering are illegal. Tax avoidance is legal.

Where is the fine or not so fine line between Tax Evasion and Tax Avoidance...

deviltrader · Jun 23, 2007

Quote from EdgeHunter:

Where is the fine or not so fine line between Tax Evasion and Tax Avoidance...

there is no fine line between the two. If you owe taxes and try to hide it, it is tax evasion.

tax avoidance means you never owed the tax in the first place hence it is legal.

dandxg · Jun 23, 2007

Quote from deviltrader:

there is no fine line between the two. If you owe taxes and try to hide it, it is tax evasion.

tax avoidance means you never owed the tax in the first place hence it is legal.

I couldn't disagree more. Let me give you are real example. When I sold telecom equip I met with executives, etc. One of them, had a company, that specialized in finding refunds for companies based on R&D costs. His partners were all former big 5 accountings guys. They would approach companies and say if I can get you this you owe my 50% of said refund.. The IRS challenged one of their customer and them in tax court and the IRS lost.

There is so much grey in the tax code it's ridiculous.

gov · Jun 23, 2007

Quote from silver914:

Actually this one works well, especially if you really do have a farm.

You obviously don't know my uncle. Strange guy, that one. They might have caught him once humping a cow, but I don't think he's ever farmed them...

The irs wasn't amused. Better to keep them happy.