I'm still new to the biz and I need advice from the girls on how to manage finances.  I'm accustomed to using online banking to pay all my bills.  Offline email discussions would be ok if the subject is too sensitive to discuss here.

Do pay your taxes, but for  safety, take a trip to the Carib and form a trust and open a Euro bank account with an ATM card.
Then your funds and assets will be much more difficult to seize.
BVI and Belize are nice.

Spend less than you earn, always.

Save a little bit each week for the long term, and never spend it.

Pay your credit cards in full each month.

Continue wth your education (unless you already have a Masters or Phd).

Always remember Rule #1

Well if you have been doing this all year and you are just now thinking about the IRS, egads woman!  
Fortunately for me, I run my own landscaping business as well as moonlight on the side.  I do claim most of my moonlighting money, but like most entrepeneurs, some of it is spent as cash.
I would say to get started perhaps seeking out a good lawyer, a good accountant and a financial advisor.  All three will help answer questions and help guide you into the right direction so you can become an active part of society and paying taxes.
Or if you don't want to claim your money, do not put it into your bank account or anywhere else that may be traceable and limit your purchases to under $4000 cash to avoid any redflags (forgive me if I am wrong on this figure, but I'm basing this off of what I have researched).
Sure it's great to make so much money that could be tax free, but it's like a white lie...when you lie once, you have to keep making up lies to cover up the lie and can be a time consuming process and worry you to death.  
However I think personally that it is better to claim a decent amount to make a living off of and create a business of some sort so you look like a normal jane in society and trust me it helps to be able to have a regular income when it comes to getting credit, car loans and home loans.  
And finally if you want to avoid taxes, get out and vote Republican or Libertarian tomorrow..heh.  Please don't flame me guys!

Nadine


-- Modified on 11/4/2002 10:35:46 PM

I've been doing this since June of this year but only very part-time.  Until November 1, I was working fulltime as a computer programmer.  I have another business that I'm trying to get up and running, and I'll probably start doing some web programming jobs as well.  I suppose the best thing I can do is have income generated from those businesses.

Probably a good idea and just keep the cash out of the bank and careful tabs on not spending too much cash in one location.  
Or supplement your other income with this and claim it as your other business.  Either way, good luck and I'm glad to see others out there sometimes using their brains to make the best out of a golden opportunity~

Be ware of limit that can be placed in banks.  Also be careful of bank and instution that run profiles.  Recently heard of a person going to jail,he was observed make deposit of over @10,000.00 on a weekly basis and a National Bank blew the whistle on him.