Qataku.com | 7 legal Ways to make Fast Money | try this – I’m going to break down 7 legal ways you can money, which are opposites of what I told you about yesterday. Again this is all 100% legal and you can start doing it today.
7 legal Ways to make Fast Money | try this
1. Tax evasion: Not paying taxes on what you truly made ( a lot of ways to do this legally by the way)
Legal way Around this: Create an LLC or another type of legal entity and ask your employer to higher you as a contract employee (they’ll say yes usually because it’ll mean less cost to them)
-2. ATM Fraud: Atm reimbursement, they get a bunch of people to use the atm and set a high sub charge and get money every day from it
Legal way: Create more income by increasing your volume and locations.
– Excuses of theirs atm everywhere: Be competitive with your profit split and look for the owner with multiple stores. Some people are putting ATMs in apartments complexes now.
Pro: You’ll increase your profits, build up volume, and eventually be able to sell your portfolio to someone else. Cash is not don’t just yet.
Cons: It’ll take work and some bidding wars here and there, however that’s part of the game.
-3. Money Laundering: This is cleaning dirty money and turning it into clean money.
Legal: If you’re running a legitimate business off the books, then put it on the books.
Why? You’ll get access to more money with banks and will be able to expand and grow, plus there are a bunch of ways to legally avoid paying taxes. Like deduction, buying equipments and transfers.
Oh, and if you have an Illegal business off the books: Check the rules in all 50 states you might be able to go to another state and start a legal business their.
– Pro: If you were making money off the books, well now you can make 3X that because you’ll get more exposure, and a lot less risk than before
– Con: You won’t be the cool guy in jail ( which is actually a pro
I was talking to one of my CPA yesterday: and he told me how one of his clients put up the first dispensary in place I forgot, and now he’s going to have legal customers and legal products.
-4. Buying and Reselling Icloud and stolen Phones
Facts: So many people dm saying Tommy the competition is too high, theirs always competition.
How: Learn to fix phones and how to negotiate better
Pro: If you can buy in bulk phones with a broken screen and parts, you can fix them for cheap and sell them for a higher markup than what you bought them at
Con: Its hard work, it’s worth it though
Tip: The more difficult something is, the better the profit margins
-5. Identity theft ( I’ve seen this happened live and have also gone through it
Legal Way: If you know the ins and outs of how people do this, start a blog or youtube channel, or consultations service. Showing people how to protect themselves. I know I would read about it.
Pro: This way you turn a bad skill into something good
Con: It’ll be tough to build a customer base, however much more rewarding
Tip: A lot skills you think are useless when you flip them to the opposite, it can actually benefit you a ton
6. Tax Fraud another form: Claiming Dependent when you knowingly know it’s not true
Legal way: Very hard to turn this one legal, however, I think I figure it out.
– Most people that do this do this because the parents are immigrants and they don’t file taxes. Well, you don’t have to be a legal citizen to file, all you need is a tax id, go to your local CPA, and he’ll help you for a fee that will change your life.
Pro – Reporting taxes correctly, gives you a lot of leverage if you’re an immigrant, it shows a record of you being a lawful person.
– And you can also use it to create credit ( which most people don’t know, but you can have a credit card without being legal)
Con – Sounds scary; however you don’t have to worry, if you want to fact check me, sit with your lawyer, and he’ll tell you what I’m telling you now.
Fact: When I was in high school i would hear a lot of stories about their parent snot being able to do things, however it’s just a lack of knowledge.
7. Take this advice and these methods and turn them into $
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