Some of friends at Bangladesh work with clients from USA, and they often face problems in getting paid. They are suggesting a business plan to me.
- I would create a Xoom/Paypal account.
- It will be backed by my credit card. The US clients will send directly to my CC, and then I will transfer that to Bangladeshi local bank after deducting the transfer fees.
But the problem is, my CC will record the transactions, and those transfers will be considered as my income from the legal perspective, right? At the end of the day, I will not earn much, but the transactions will just burden my tax returns. Am I missing something here? I don't want to pay the taxes for other guy's income. Also, is it legal? Please suggest. I am living in Canada.