Revenue Canada & Strippers

[Youngblood]

Sorry if this sounds like a stupid question.

As im sure you know some strippers dance "FULL TIME" and that’s how they make a living and that’s there only source of income. Everything from the house, the car and their bills are paid for by dancing.

So when the Tax man comes a knocking how do these chicks file there taxes?? What do they actually clam as income etc..?? Without getting busted for Tax evasion??

 

[clules]

Find a really good creative tax accountant. I'm sure that a lot of them hang out at the SC.

 

[scubadoo]

I have seen the inner workings at CRA and trust me...the company has ways of establishing income for those that try to skirt the system. I've seen some of CRA workers tear some people a new butt-hole and it isn't pretty. One guy had over $40,000 in deductions he was trying to claim reversed, one of the receipts was for the family pet!

I always recommend the honesty is the best policy in this regards as the majority are found out and one point or another.

 

[wrong hole]

I hope most adult entertainers at least include 50% (if not all) of their income in their tax return and the other half .....hide it under their mattress like I do....so that some day when I accumulate enough wealth, I can purchase a 7-11 chain*




*It has been written in the scriptures that whoever controls the supply of slurpees, controls the world.....

 

[holden]

Hey scooby do,

I was wondering what kind a test the CCRA would have for people who work in the cash industry, for example a waitress who works at a 'hot' bar/club can sometimes take home $150 to $200 in tips a night. If she does not deposit it in a bank account but instead puts the cash in a safety deposit box, there would be no audit trail.

I would think it would be hard for her to get caught if she live within modest means if she does not flash the 'bling bling' (big purchases items such as house and cars)

 

[scubadoo]

The enemy (Scubadoo) lurks amongst us! (just kidding...)

It never ceases to amaze me how many people think they can skirt the system. If you ever:

1) Want to buy a house
2) Buy a car
3) Buy anything over $10,000
4) Use a bank
5) Use credit cards
6) Make charitable donations
7) Cross international borders
8) Participate in a "No Money Miracle!" or "Don't Pay a Cent Event"!
9) etc.

...You will be recorded "in the system". Unless you can, and are willing, to live completely outside of the system, you stand a pretty good chance of being snared by the taxman.

In our current society and lifestyles, I'm not even sure that it's possible to fly under the radar....

Your giving away our secrets!!! LOL

To be honest, I have never let my work get in the way of my personal life or the hobby. I have turned down requests for help as I don't want to know. I go by the current gov't credo! "Don't ask, don't tell."

 

[tompeepin]

Not rocket science ...

... but maybe beyond the scope of your average stripper.

Money laundering, err money management, yeah that is it. If you think that it is all that hard, think again. So you have to report stuff over $10,000. In the old days you could bring $1,000,000 in $5, $10, $20 into the bank and they would count it up and not ask questions. So the gov. instituted the $10,000 rule. As long as you are not stupid or careless or stung by a fluke ... there are many ways to ... well let's just say ... be creative. Look at the goverment itself and they did not even care to be 'discrete'.

 

[seven]

EB! EB! Bring back EB!

 

[scubadoo]

I keep you guys honest!

Actually...I should have said you have given away some of our better know secrets. You should see some of the crap that charities try, some just make me laugh. Of course, we have gotten more hardline on charities since 9/11.

 

[holden]

I don't think day to day activities get into the system (I might be wrong)

Instead of buying property rent it

Buy furniture using cash

Eat out or grocery shop

when taking vacations, drive across border by renting car and fly from US (not international flights)

If you need alot of cash for big purchase, get parents to write cheque to your bank account and in return repay parents with cash (Transfer of wealth from mommy and daddy to child (18+) does not have consequences(in US-yes-GST), well except for evading taxes, that's called tax fraud)

It would be pretty hard to get caught wouldn't it?

Of course I totally don't condone this course of action, I'm more curious about it.

 

[tompeepin]

ROTFLMAO

EB! EB! Bring back EB!

Dude you are too funny! I can just see you jumping up and down clapping your hands in your enthusiasm.

 

[holden]

Actually...I should have said you have given away some of our better know secrets. You should see some of the crap that charities try, some just make me laugh. Of course, we have gotten more hardline on charities since 9/11.

Have you ever heard of charities issuing donation receipts for more then the donation itself, for example biotech donations. With every dollar you donate to them, some charities can purchase equipment for 10% of their fair market value but issue a donation receipt for the full value of the equipment.

 

[SaveFerris]

As far as the question about the waitress hiding her tips...the tax man expects restaurant staff to report their tips....what people usually do is report tips, but a lesser amount...as long as the # appears "reasonable", they won;t bother you.

There is no way someone could go through life earning cash and never report a cent. That old expression comes to mind: pigs get fat, hogs get slaughtered. Be a pig....report some of your cash earnings - enough to show how you paid your housing, your car, your spending money. The rest you can stuff in your safety deposit box. And if you DO want to say buy a house, the idea someone else mentioned - get your parents to give you the down payment, and pay them back in cash - that works. But again, you can't go to the well constantly.

There are always ways to avoid the tax man: the likelihood of getting caught depends on how often you cheat, and for how much $ you cheat.

 

[wrong hole]

Have you ever heard of charities issuing donation receipts for more then the donation itself, for example biotech donations. With every dollar you donate to them, some charities can purchase equipment for 10% of their fair market value but issue a donation receipt for the full value of the equipment.

I think alot of people have heard of this stuff going on.....but just pay your fair share of taxes so there will be no worries. It can get depressing sometimes thinking of how much the government can waste tax payer's money (anyone wanna buy an ad) or how big corps play with their statements.....farking nortel.

 

[holden]

I think alot of people have heard of this stuff going on.....but just pay your fair share of taxes so there will be no worries.

I agree, I was just thinking how some people try to get around the system regardless of profession whether it be an adult entertainer, waitress or corporations.

Ferris

I heard CCRA does comparitive checks of the waiters/waitresses around the area of the taxpayer's work to see how much they declare in tips and if the taxpayer has a drastic difference compared with other waiters/waitresses, the taxman cometh.

I don't know if this is true, sometimes CCRA can barely tell me the amount of instalments I've made and I'm just happy if they put it in the correct period.

 

[holden]

For example ( and I speak from personal experience here), if an escort ( don't know how muuch dancers make) filed even just $50K- 70K/year and then deduct certain things, you are looking at paying about $5- 10 K/yr in taxes ( depending on the expenses you deduct).

You must have the best damn accountant in the world or expenses up the wazoo if you are only paying 10% - 14% on 50k to 70K a year. I think at 30K (without deductions) you are paying around 5k. I think I'm going to fire my accountant's a s s.

 

[scubadoo]

Have you ever heard of charities issuing donation receipts for more then the donation itself, for example biotech donations. With every dollar you donate to them, some charities can purchase equipment for 10% of their fair market value but issue a donation receipt for the full value of the equipment.

There are a couple of provisions more so for where we deal with gifts in kind and non-qualifying securities and assets. Usually in a special case the charity will contact our legal department for clarification and/or a ruling ahead of time. My expertise if more with organizations seeking to become a charity. You'd be amazed at some of the stuff I've come across in doing background checks.

Form some posters, please note that as of December 2003, we are no longer the Canadian Customs and Revenue Agency (CCRA), we are simply the Canadian Revenue Agency (CRA) now.

 

[mexicanbullfrog]

When asked, or under oath I state:

I'm a waste management consultant, and there is no mafia!!

 

[Mr. Downtown]

Form some posters, please note that as of December 2003, we are no longer the Canadian Customs and Revenue Agency (CCRA), we are simply the Canadian Revenue Agency (CRA) now

Wait a minute. They went from being called Revenue Canada, to Canadian Customs and Revenue Agency, to now the Canadian Reveue Agency (all within a, what, 2-3 year time span). Think about all the changes to signage, business cards, letter head, consultant fees, legal fees, lunches/dinners, advertising agency fees (raking) and it no f'ing wonder we pay taxes out through the nose so these silly f'ing bureaucrats can waste our hard earned, over-tax money.

 

[rocko]

I know of one dancer who had a bf who was an accountant and when the relationship ended asked back a "loan"she had made to him. He refused and threatened her with spilling the beans on his creative accounting which he had always had her sign off on rather than himself. She's out of the business now but at the time his threat really shook her up.