How To Beat The Tax Man: 4 Controversial Tips for Anyone in Small Business

If you are in small business, you are looking to avoid as much tax as possible. Avoiding tax can soon turn into tax evasion. Whether or not tax accountants will recommend these controversial tips, is another matter. If you are considering tax evasion, you need to do a little homework. Even if you have great tax accountants, they might not tell you explicitly what is written in this article. If you are running your own small business, there are concrete ways to avoid paying tax. This does not mean they are legal, and so you should take care in what you do. These are tools and techniques that you can use if you are tired of paying too much tax. This article does not actively promote these ideas as they may be illegal in your country. Make your own decisions after being informed.
  • Cash. What do we do with cash? We put it in our wallet. Earning income directly through a cash means is obviously illegal. It is also hard to get caught at. If you have clients who are not interested in getting a receipt, working to earn cash is an excellent option. Obviously, you cannot do this for everything you do, unless you have a means to explain why you have that money. You may come under suspicion for having too much money in your bank account when you have no stated earnings. Make sure you take a few trips to a local Casino so you can explain how you got all that money if ever asked. There are no records of who won or not. This is why having casinos in any country indirectly facilitates crime and corruption. If it is possible not to supply your bank with your tax number or social security number in your country, don't it where you can.
  • Deductions. Deductions are allowable on all the costs of you doing your business. You must make sure you take advantage of these and more. Use as much of your living expenses and claim them as legitimate tax deductions of doing your job and business. Be inventive about the way you claim your deductions and look for reasonable reasons why you made those purchases in relation to your work. There are many receipts that can be used for both personal and professional expenses. Exploit this as much as possible.
  • Don't Employ People. Employing others in your small business can be very costly. Not in just the amount of tax, sick pay and leave you will have to pay, doing all those calculations costs a lot of money. Managing your business and getting into the business of employing people is a legal minefield. You will need to understand many laws such as Occupational Health and Safety requirements. Avoid all this by using services of companies instead of employees. If you are using someone regularly, make sure you have a supplier contract. In some cases, this will mean you cannot use them constantly for more than an extended period. You might have to have a week break in your relationship every 12 weeks, for example, as is the case in Australia.
  • Keep Money Overseas. Earning money overseas should be kept overseas. Make sure you know the relationship of the country and your country before you do this. For example, Hong Kong and Australia have tax information exchange relationships. Therefore, if you are an Australian earning money from overseas, it is not a good idea to keep it in Hong Kong. Receive and keep your money in a country that does not have these types of relationships, for example, somewhere in South America.
Not all, if many accountants, will recommend these practices. Do your own research, avoid as much tax as possible, and don't get caught.

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