Before I comment further, I want to state unequivocally, and for the record, that I am NOT involved in ANY criminal activities, and that every year it is my great honor to diligently report EVERY cent of income. For it is through this action, though puny and insignificant in comparison to many blessings bestowed upon us by the state, that I'm able to wholeheartedly express my overwhelming gratitude, and proudly contribute my meager share, as is the duty of every happy and loyal citizen!
The NFT sale works, but how long until they try to do something about it?
The multiple company thing is much harder than it used to be, and it seems like a lot of work and legal bills.
I still like mine better, but it's definitely more suited to the U.S..
A lot of criminals, (beginning with Al Capone), are not arrested for their crimes. They're actually put away for tax evasion, because many times the police can't prove the crime, but the IRS can prove they evaded taxes on their loot. Another important detail is that the IRS cannot divulge the contents of your tax returns without a warrant signed by a federal judge. (That's why it took so long to get Trump's)
The best part is the two questions that would trip up a lot of laundering schemes, have built in answers that don't require any proof except a quick explanation!
- The ability to show who and where the income came from. I provide them, they just happen to be anonymous. In most cases they would definitely pursue that, but in this case anonymity is obviously the normal and only safe way to conduct business
- To the IRS it's suspicious if your business deals with a lot cryptocurrency. But here it's obvious to the auditor that crypto is the only practical way to conduct business.
Another thing I like is it can be a win-win. Once the auditor understands the business, he'll buy into everything you tell him but he'll still keep digging. He'll keep digging because he's a functional cog in a huge bureaucracy, and he has to find something to show his boss he has value. So, since you control everything, you just throw him a small bone and he'll stop digging. He'll also agree with you that it was an oversight, after you tell him how smart he is because you didn't even see that.
What ya think?