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    Passive Income without Tax?
    VodaFX offers an automated software trading system that generates a passive income by trading on the Foreign Exchange. It is now sold at a retail level into Europe, our first office opened is in Dublin Ireland. We have recently been told that the passive income generated by VodaFX is considered Tax Free as it Automated Foreign Exchange Trading falls under "Spread Betting" in Ireland.

    The way it works is a client starts a trading account of 10,000 Euro with a broker, VodaFX algorithms are then traded through the broker automatically to generate the consistent profits we are known for.

    What are your thoughts on this as we found it rather interesting. We must make it clear we are not financial advisors and we are merely restating what has been told to us by a local accountant from one of our clients.

    We are interested to know your thoughts.

    -VodaFX Team


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    So how exactly can you make an income without claiming taxes in the United States?


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    Would you mind elaborating a little bit about how/if this would work for U.S. citizens?


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    Hi There, I am not sure I understand your question. We are not "claiming tax" in the US. Maybe you mean, without "paying tax" and if so, the answer is... We are not ourselves tax advisors or accountants and don't know anything about tax in the US. We have posted here to get a discussion going about tax implications of online or automated trading as this is what we do.

    Many of the people that purchase VodaFX use a broker in Australia, the profits are made there and can be then transferred back to a nominated bank account.

    Future plans for the software include distribution into USA and Canada and also using brokers within those countries, however the customer may choose to use the Australian broker anyway for their own comfort or benefit.


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    First of all, this will only work in certain very limited countries such as Ireland who sees this as Spread Betting instead of stock market transactions. Any country whose legistlation sees this as forex trading, which is what is it, will tax the individuals accordingly.

    The thing that really bothers me is how you basically claim to make passive income with an algorythm in the stock market. If this is true then tell me one thing, why are you here on this forum instead of partying at the Bahamas with super models? You are claiming to have a program creating INFINITE income... so what's the point of sharing it?


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    I would be nervous about anything that tries to bypass tax laws. It seems like a good way to get into trouble. Plus, it sounds like a scam anyway.


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    This really does seem kinda fishy. ;s


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    Quote Originally Posted by LindaKay View Post
    I would be nervous about anything that tries to bypass tax laws. It seems like a good way to get into trouble. Plus, it sounds like a scam anyway.
    It's not exactly bypassing laws. There are countries where things such as sports betting is not taxed since it's gambling and your chances of losing are higher than your chances of winning. This is basically the same.

    As for the scam part, yes definitely agreed.


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    You must report any income you earn in the U.S. Plain and simple.


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    Quote Originally Posted by mameeker@cuse View Post
    You must report any income you earn in the U.S. Plain and simple.
    Nope, definitely not plain and simple.
    For example, if you earn money online and the total amount for the year is less than $600 (I believe) you don't have to report it.
    I'm sure there are other examples... how about:
    If you go to help your neighbour fix his car and he pays for your help with a case of beer, do you need to report the costs of the case of beer?


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