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Doing non-teaching job online while on E2 - legal?

 
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RnH



Joined: 02 Aug 2006
Location: Korea

PostPosted: Sun Nov 11, 2007 5:44 pm    Post subject: Doing non-teaching job online while on E2 - legal? Reply with quote

Hi there,

I have recently been offered a great opportunity to sell my photos online on a regular basis. The money that I earn (Hopefully about $1000 a month if it all works out),would be paid into a moneybookers.com account and I would in turn send that money home regularly to my home country, South Africa. But that money would need to be taxed if it's going into my SA bank account (and thats about 30% tax), even if I'm not living in SA right now. So I'm wondering - would it be legal to have the money transferred to my Korean bank account instead if I'm on an E2? If it's not, then is there anyway to have it transferred to Korea legally? I don't mind paying Korean tax on it!! Is anyone doing online work while working in Korea, that can offer me some advice on this?

ANY advice is greatly appreciated! I know nothing about all this legal/finance stuff, so I just want to make sure I do it the right way. I'd risk just getting the money transferred into my Korean account and hope no-one notices, but it's going to be on a regular basis, so there's more chance it's gonna get spotted I assume?!

Any other ideas on how I can get paid this money are also welcome!!

Thanks VERY much in advance!
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diver



Joined: 16 Jun 2003

PostPosted: Sun Nov 11, 2007 6:30 pm    Post subject: Reply with quote

I don't know about the legality iin terms of your E2 visa. I was in a similar position before I got my F2, and I never did get an answer. My work was for an American company, and it was emailed to me. The work came from overseas, the pay came from overseas...the only thing to do with Korea is the fact that I live here.

As to the pay- My pay got wired to my Korean account no probs. You might get a phone call from a bank employess wanting to know why someone is sending you money. Also, since the money was earned OUTSIDE of Korea you don't have to pay tax on the principle, but you'll be on the hook for any interest that money makes for you in a Korean bank.
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jinju



Joined: 22 Jan 2006

PostPosted: Sun Nov 11, 2007 7:18 pm    Post subject: Reply with quote

You mean you joined a microstock agency? No idea if its legal or not, but just tghink: how the hell would they ever find out? E2 violations usually involve people getting caught physically working at another location in Korea. In your case this is a microstock agency somewhere outside of Korea. I dont think your case has anything to do with E2 legalities, more so with money transfer rules.
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RnH



Joined: 02 Aug 2006
Location: Korea

PostPosted: Mon Nov 12, 2007 12:14 am    Post subject: Reply with quote

Thanks for your advice!

Diver: Were you on an E2 at the time? Did your money from the American company get taxed anywhere else? What did you tell the bank when they phoned i.e. about where the money was coming from?

Also, does anyone know about money transfer rules then?

Thanks!
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diver



Joined: 16 Jun 2003

PostPosted: Mon Nov 12, 2007 8:38 am    Post subject: Reply with quote

RnH wrote:
Thanks for your advice!

Diver: Were you on an E2 at the time? Did your money from the American company get taxed anywhere else? What did you tell the bank when they phoned i.e. about where the money was coming from?

Also, does anyone know about money transfer rules then?

Thanks!


Er...It didn't get taxed here.

I told them I worked for an American company. I might of said 'So you can bite me...' but I don't remember exactly.
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moosehead



Joined: 05 May 2007

PostPosted: Tue Nov 13, 2007 2:15 am    Post subject: Re: Doing non-teaching job online while on E2 - legal? Reply with quote

RnH wrote:
Hi there,

I have recently been offered a great opportunity to sell my photos online on a regular basis. The money that I earn (Hopefully about $1000 a month if it all works out),would be paid into a moneybookers.com account and I would in turn send that money home regularly to my home country, South Africa. But that money would need to be taxed if it's going into my SA bank account (and thats about 30% tax), even if I'm not living in SA right now. So I'm wondering - would it be legal to have the money transferred to my Korean bank account instead if I'm on an E2? If it's not, then is there anyway to have it transferred to Korea legally? I don't mind paying Korean tax on it!! Is anyone doing online work while working in Korea, that can offer me some advice on this?

ANY advice is greatly appreciated! I know nothing about all this legal/finance stuff, so I just want to make sure I do it the right way. I'd risk just getting the money transferred into my Korean account and hope no-one notices, but it's going to be on a regular basis, so there's more chance it's gonna get spotted I assume?!

Any other ideas on how I can get paid this money are also welcome!!

Thanks VERY much in advance!



RnH

under no circumstances should you just have them deposit it in your Korean bank acc - yes, you could not just be liable for taxes but have to prove that you earned that money elsewhere, not here - you are opening up a huge potential problem.

even tho i'm an american, i am also a prof photographer and make a point of keeping my earnings separate from here in korea and elsewhere. just my advice, but sounds like it's time you hired a top rate accountant to advise you properly so you don't have to pay as much tax as you say (30% is steep)

i file a separate business return for my photo - and i file every year, my cpa back in the u.s. does it for me. i've heard of a lot of people who come overseas and let their taxes slide - it's NEVER a good idea to start fudging on your taxes - in the long run, you'll never come out ahead no matter what. the penalties, interest, headaches, ouch, you will kick yourself over and over again, trust me!

so call someone back home and ask for an accountant referral - if you don't know anyone to ask, then ask your banker - it's worth it to get someone really good - you can correspond via email and all will be on the up and up - you'll sleep better at night and can continue making what must be beautiful photos if you are making that kind of money.

by the way, what agency is that you're hired on with? i'd like to know more about that if you don't mind.

pm me if you'd like to talk photog i'd be happy to share more.

moosehead
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Tony_Balony



Joined: 12 Apr 2007

PostPosted: Tue Nov 13, 2007 5:39 am    Post subject: Reply with quote

Hi - good work on your expanding career. However, its pretty slow witted to be befuddled by this problem. Stress over it if you want....you work outside of the country via the internet and they pay you outside of the country. Sounds like a wrap. What is the hard part?
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