online business and taxes

**Sosa** · 03-08-2006, 08:03 PM

I would tell you to claim all money. Keep track of all your expenses so you can write them off also. Talk with an accountant.

**baycouples** · 03-09-2006, 12:38 AM

Get an advice from a CPA. All I know is not to fuck with the government. So, I report all of my income and make sure that my expenses are reasonable. I sleep very well at night.

**BillyParadise** · 03-09-2006, 05:22 AM

Incorporate offshore. $2k or less, let your profits grow untaxed. (you'll still be on the hook for taxes whatever your company "decides" to pay you - but as soon as you're making a full time income, it's like a no-limit RRSP)

Check out "Take Your Money and Run", and "My Blue Haven" - poorly written, but good ideas.

BP
(formerly resident in Canada)

**Jeremiad** · 03-09-2006, 02:14 PM

http://www.largecash.com/terms.php#Canadian

**fatfoo** · 03-10-2006, 08:09 PM

thanks for the feedback, all of u

Jeremiad, that link was helpful, thanks

**iBanker** · 03-10-2006, 10:21 PM

Any time you dont claim legitimate income, you are taking a risk...

**iBanker** · 03-10-2006, 10:22 PM

Then again, there a better ways to itemize your expenses and drop you tax rate that way as well.

online business and taxes

online business and taxes

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