Thread: Banners Broker HYIP ponzi scam

Originally Posted by Dreamstealer

I do tax planning as part of the day job- so:----
Tax is payable on business profits in UK (and in US and most countries). Ie all earnings, which include cash drawn, cash in ewallet and cash reinvested into further panels. The tax would probably be much more than has been drawn. If this is a legit business, most of the businessmen are screwed for tax. Also as self employed they must notify HMRC and pay NIC monthly. If they joined before 5/4/11 and haven't done an 11/12 return (in UK) then they are double screwed as the penalties are more than the initial £100 someone else mentioned. Note that with a top rate of tax of 50% then with the automatic rollup of at least half the earnings that all " 6 figure" earners are triply screwed.
Obviously BB is a scam so none of this is relevant, unless you think BB is legit.

OK, so what percentage of people that participate in ponzis or pyramids do you feel pay taxes?

yeah i see what you're saying noname, their arguments and marketing is just so flawed its unreal. I have promoted alot of businesses online, and its something I always strongly object to is false claims, but lets me honest, 99% of them are false.

Difficulty is that the tax position is not clear to those who are involved. Some will say they have to be self-employed, others will say oh it's additional (other) income and can be declared on a tax return. It seems to be another murky area that BB are exploiting.

Even if you showed a true BB believer the light, they would still not accept that they are in a dodgy scam.

The situation will be completely different depending on whether it simply collapses or it is prosecuted

Originally Posted by Dreamstealer

I do tax planning as part of the day job- so:----
Tax is payable on business profits in UK (and in US and most countries). Ie all earnings, which include cash drawn, cash in ewallet and cash reinvested into further panels. The tax would probably be much more than has been drawn. If this is a legit business, most of the businessmen are screwed for tax. Also as self employed they must notify HMRC and pay NIC monthly. If they joined before 5/4/11 and haven't done an 11/12 return (in UK) then they are double screwed as the penalties are more than the initial £100 someone else mentioned. Note that with a top rate of tax of 50% then with the automatic rollup of at least half the earnings that all " 6 figure" earners are triply screwed.
Obviously BB is a scam so none of this is relevant, unless you think BB is legit.

Good points. if so this would make the whole idea of investing in BB totally illogical. But I think it would be wise to clarify this point with HMRC. Dreamstealer, the ewallet situation would seem quite unique in terms of tax position. Can you think of a similar legitimate example of where tax is due on unearned income? Obviously earnings re-invested in new panels could be offset against tax, so an "honest" affilliate might be able to reduce tax bills.

It would seem that getting money from BB is harder than getting blood out of a stone. But if BB don't keep it the taxman will!

Originally Posted by Beethoven

Good points. if so this would make the whole idea of investing in BB totally illogical. But I think it would be wise to clarify this point with HMRC. Dreamstealer, the ewallet situation would seem quite unique in terms of tax position. Can you think of a similar legitimate example of where tax is due on unearned income? Obviously earnings re-invested in new panels could be offset against tax, so an "honest" affilliate might be able to reduce tax bills.

It would seem that getting money from BB is harder than getting blood out of a stone. But if BB don't keep it the taxman will!

Unfortunately ( or not?) the taxman has to be aware of the situation to act on it, i.e. unless the participants are reported to the IRS or something flags their returns, ( like, for example, not reporting offshore assets and having a bank transaction reported) likely they won't be investigated or audited. Just the harsh reality of understaffed/underfunded regulatory and law enforcement agencies.

Originally Posted by buckyuk

Ok im all for this expose the scam, but i think this whole earnings not even covering your tax are a bit wide of the mark. If im not mistaken (which i might be) you only pay tax on your profits, if that werent the case, most businesses in the world wouldnt be profitable.

If you generate $1mil in your business, and your expenditure has been $900k, you dont pay tax on $1mil, you pay tax on $100k.

BB (if it was a legit business) would be the same, the earnings box may say $50k, but that doesnt take into account how much has been reinvested etc, costs for these imaginery traffic packs etc.

But forgetting about the tax implications.
If you are in Banners broker, or thinking about getting into banners broker, ask yourself this...

Why do banners broker, need you in their business, why do they need to pay you money???
What do you bring to this multi millions dollar company?

If i was running this business, and i had figured out a way to "broker banners", buy and sell banners in such a way to make profit. Why on earth would i want to pay hundreds of thousands of members a cut?

Answer me that...

Problem is, most of the 'money' would be considered profit. Only their seed money would be exempt in theory. It is not what you withdraw, it's total earnings. Be it on paper or mystical websites. I perform a service for a customer, I have to pay sales and use tax regardless of if the customer paid me.

Originally Posted by laidback

OK, so what percentage of people that participate in ponzis or pyramids do you feel pay taxes?

I would say '0'

At the end of the day, this isnt about tax, its up to the individual for them to pay the appropriate tax.

This thread should be about banners broker and the ongoing scam

These scrubs are going downhill fast now. Not paying members at all. Jamie Waters slowly taking steps back. I see the shills alan howard and rwmarketing or whatever the **** his name is, is also a great shill. You read that talkingbb site they try to scare people into acting properly.

What ******* company do you know acts like these tardlets? And some members got mad for people questioning them? Yeah okay a billion dollar company cant afford a properly run site. What a hilarious joke this is

catching up with some of the thread I saw the picture of that autoshop listed as bb hq in oshawa ontario LMFAO how do people think this is legit still. ******* rrreeeetttaaardddsss

pricks

Originally Posted by Maxwell Johnstone

Jamie Waters slowly taking steps back.

Is Jamie Waters still posting talkingbb? When was his last post?

why not go look yourself? I dont know I dont frequent it

Originally Posted by Joe_Shmoe

Is Jamie Waters still posting talkingbb? When was his last post?

JW hasnt been seen for a few days on Talking BS. Theres even a thread now with the title "wheres jamie?"
looks like the BB crowd are feeling a bit uneasy...

Originally Posted by Maxwell Johnstone

why not go look yourself? I dont know I dont frequent it

I'm banned for some reason

Originally Posted by buckyuk

At the end of the day, this isnt about tax, its up to the individual for them to pay the appropriate tax.

This thread should be about banners broker and the ongoing scam

It is. But the tax issue has direct bearing on BB.
Either (1) It isn't legit so there would be no tax paid on it,
or (2) It is legit but the tax payout is greater than the payout.

Either way people should not be taking part in BB. I am blue in the face from trying to show people that this is a scam. Some of them just can't be convinced. They use these fictitional figures to prove legitimacy. I just want to show another way to try and convince people that BB is not what it seems. Let them go down the 'legit' argument. Even then it does not work as it fails on the tax question.

Either way, the vast majority will be out of pocket.

Must get to the bottom of the Jamie Waters question. We had an address for him, right?

Anybody able to get a screen shot of the "wheres jamie?" thread?

Originally Posted by Beethoven

I could do it, but have no idea how you do that LOL

"wheres jamie?" A great Idea for a book

Originally Posted by Joe_Shmoe

"wheres jamie?" A great Idea for a book

Sounds like a video game to me.

There is a nice add-on for FireFox & Chrome that will let you take a screen shot called "Awesome Screenshot" try it its great.

Or just copy paste some posts to here.

yeah **** I got banned there too. Just went to get a screenshot for you guys.

Beethoven what kind of computer do you have? I can tell you how to take a screenie

Originally Posted by littleroundman

publish the addy, so we can all pile on

LRM is this what your looking for ... Report it | Action Fraud

so Jamie slowly runs away huh? The guy should get his ass kicked he's probably a huge reason for getting a mass amount of people involved

I did this a few weeks ago. Report it | Action Fraud
The more reports the merrier. The authorities might take notice

otoad thanks for the link. Ill start sending them every single day