Quote:
Originally Posted by neilmarr
We're registered both in Canada and the US, Mr Ploppy. But when we withdrew all our titles and opted out of Smashwords, they still retained 30% tax at source when they settled up last week. I guess we could claim it back if we felt it worth jumping through hoops for a hundred bucks or so. Neil
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You would need to file a US tax return. But as people have mentioned our Infernal Revenue Service is a rats nest of over-officiousness run via forced compliance for the small guy. The big money corps get away with murder. I offer an example the current owners of the Los Angeles Dodgers baseball team have not paid any income taxes for at least a decade as I recall. And done so legally. See they run everything through various "independent" companies as use loans to pay themselves. I try not to pay attention to it all but the two of them are in the middle of a gawds awful divorce an all of their extravagances and excesses have been dragged out into the public eye. still, from an income tax POV they have not broken a single law...in fact, as we have learned it is a fairly common practice...and we are talking as much as $100M/yr in some years. Basically I think they loan themselves money and eventually just default on the loans creating write off's for the company which loaned them the money. I am sure I screwed up some of these "details" but that is the gist of it...sad, very sad...oh, they bought one home simply for the pool...a $10M home in either Belair or Holmby Hills places with make Beverly Hills look like the low rent district.
If you want some laughs just google "McCourt Divorce"...