How can I collect my payments tax free?
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meade
Apprentice
Joined: 21 May 2006
Posts: 4
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 Posted: 05/18/08 - 04:13 Post subject: |
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| I have agreed to help some people and in exchange they are about to give me certain sum of money. It was strictly business agreement and a legal one, so there is no point in questioning my motives or hiding anything. The point is, I should receive that money directly, but since that option is not available any more, they should send me the money soon, and I would like to know if it is possible to avoid taxes somehow. Can you tell me what to do and how to keep maximum of my payment? |
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evelin
Apprentice
Joined: 23 Apr 2007
Posts: 3
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| Posted: 06/17/08 - 01:29 Post subject: |
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| It depend a lot on where are your payments going to be sent from and if you are going to receive them using your regular account or some other form of cash transfer tool, I heard that those instant transfers are not such a bad idea… but they do take a large percentage, so I don’t know what to tell you, you’ll have to suffer some loss, but may be that you can lower it somehow. You figure it out in advance, that’s better. |
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