Quote:
Originally Posted by plsureking
my buddy opens a paysite and i open an affiliate account set at 70% revshare (max). we funnel all sales thru the affiliate account, meaning his own income is only 15% net after fees. you are depositing offshore, or have some random ass wire account, bang bang easy money laundering.
its not that fucking hard to figure out and people in this biz have been doing it on a massive scale for decades. now they are locking it all down. either get your papers right or figure out another income stream that doesn't require kyc. maybe Libyan bitcoin scams?
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And what does that accomplish? As if anything you mentioned (e.g. 70% reveshare and a friend having an overseas bank account) is somehow evil or even criminal in nature.
Are you suggesting that the website owner plans to get paid out of these funds and is trying to avoid taxation? Because if so, somehow, some way the funds would have to come to back to the website owner. The affiliate overseas forwards the funds to him. If it's over $10,000, it gets reported to the IRS. If it is less than $10,000, it gets reported for "suspicious activity" (i.e. structuring). The point being, nothing is anonymous in banking. So the "scheme" you mentioned is no scheme at all.
Ironically, many people here seem to hold the position that if you are a registered LLC, somehow you can suddenly go from being dishonest and a criminal to being honest and ethical, yet it's more likely somebody is engaged in tax avoidance (as if the government deserves to gets its hands on every last dime anyways) through the very act of registering business entities. And how many scam companies actually register their companies where they can maintain a certain amount of anonymity.
So take the same scenario you mention, but leave out the second person. The webmaster opens a business entity overseas in a tax friendly jurisdiction. Well you know what the problem is here? Not that people manage to find ways to avoid taxation. It's that the U.S. governments too big and too large and taxes too much. You want people to stay in the United States, stop paying for empire.