Post: #1

Is it possible to send money overseas without the tax agency finding out? The only option I can think of is by mail!

Post: #2

We have a whole sub-forum dedicated to Cryptocurrencies.

Post: #3

Yes it is possible- Be an illegal alien and use Western Union.

Post: #4

There is no "tax" for international transfers. unless you mean the fee for the wire that the bank takes?

Post: #5

(04-03-2018 04:26 AM)Windom Earle Wrote:  We have a whole sub-forum dedicated to Cryptocurrencies.

I'm a crypto supporter and user, and I agree crypto fills this need of moving money without borders interferring, that said lets not pretend its not volatile as fuck. I'd much rather pay 15% or even 30% in taxes as opposed to losing 80% of my value in crypto over a couple weeks. It sounds like OP is trying to stash this money for the longterm, crypto could face some huge swings in that time.

Post: #6

(04-03-2018 03:28 PM)jamaicabound Wrote:  

(04-03-2018 04:26 AM)Windom Earle Wrote:  We have a whole sub-forum dedicated to Cryptocurrencies.

I'm a crypto supporter and user, and I agree crypto fills this need of moving money without borders interferring, that said lets not pretend its not volatile as fuck. I'd much rather pay 15% or even 30% in taxes as opposed to losing 80% of my value in crypto over a couple weeks. It sounds like OP is trying to stash this money for the longterm, crypto could face some huge swings in that time.

Nahhhh...

Go to Bitmex. Put 10% of btc in there. Open a short position at 10x leverage.

Bam you've covered your downside

Post: #7

Do a 1x short to preserve usd value no matter if btc price goes up or down.

Then when you want to withdraw you could probably convert it to monero if additional privacy is needed.

Post: #8

(04-03-2018 08:37 PM)qwertyuiop Wrote:  

(04-03-2018 03:28 PM)jamaicabound Wrote:  

(04-03-2018 04:26 AM)Windom Earle Wrote:  We have a whole sub-forum dedicated to Cryptocurrencies.

I'm a crypto supporter and user, and I agree crypto fills this need of moving money without borders interferring, that said lets not pretend its not volatile as fuck. I'd much rather pay 15% or even 30% in taxes as opposed to losing 80% of my value in crypto over a couple weeks. It sounds like OP is trying to stash this money for the longterm, crypto could face some huge swings in that time.

Nahhhh...

Go to Bitmex. Put 10% of btc in there. Open a short position at 10x leverage.

Bam you've covered your downside

Goodpoint never thought of that however your still trusting an exchnage to hold your money and hoping some exchange glitch doesn't cause your position to sell, heard some nightmares about that. I could be wrong but I got the impression from the post OP was more looking to be able to stash something away and not worry about it except in case of emergency, I coudl be wrong though. Does Bitmex accept US customers and/or can I singup with a VPN?

Post: #9

I use these crypto
DGB(favorite)
NEO(zero fee)
GAS(zero fee)

Post: #10

Is Crypto the only option??

Post: #11

Western Union....and I guess crypto.

Post: #12

Western Union, probably crypto as well.

Post: #13

It depends how much money you're sending and where you're sending it. US banks don't report transactions to the IRS unless then are $10,000 or more. So if it's less than that, the government won't know unless at some point in the future they decide to go after you and subpoena your bank accounts or something. But that doesn't happen much unless you are doing lots of stuff.

If you send the money to an account you have overseas, then you are required to report that account to the IRS if all overseas accounts combined have over $10,000 at any point during the year.

If you're sending more than $10k, then you would need to find some creative ways. By mail isn't as bad as it sounds. I read that when they had to shp the Hope diamond they did a lot of research and decided that regular postal mail was the safest way.

Post: #14

(04-08-2018 11:44 AM)JohnQPublic Wrote:  It depends how much money you're sending and where you're sending it. US banks don't report transactions to the IRS unless then are $10,000 or more.

Only a couple thousands. Does anyone know if it's the same for Australian banks?

I heard Western Union report to tax agencies...

Post: #15

Your asking how to commit tax fraud in a public forum???

Post: #16

I have yet to hear a question that ventures in to illegality. So, I'll bite.

Both the US and Australian tax authorities are extremely militant about tracking all international transfers in and out. In fact, Australia is notorious for having one of the craziest tax agencies short of the IRS. FYI.

To answer your question... If you are a member of certain ethnic minorities or you have someone in your trusted inner circle who is, you might consider Hawala banking. This is an informal transfer in which you would give some money to a "friend" in your country and your "friend" would instruct their "friend" in another country to give a slightly smaller amount to whomever you want. The slightly smaller amount is less a handling fee. It sounds sketchy as hell, but these networks operate on reputation alone. If you find one with some decent word-of-mouth support, it might be worth considering.

As always, I'm not advising anyone to do anything illegal.

Post: #17

Has anyone looked into a Prepaid Credit Card? I can't find one with a limit over $1000!

Post: #18

(04-03-2018 02:57 AM)abcdef Wrote:  Is it possible to send money overseas without the tax agency finding out? The only option I can think of is by mail!

I use Transferwise.
Pretty cool, check it out.