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Dear Comrades:
I am tax wise challenged as much as in any other subjects. But some time
ago I did research that subject (talk to best specialist I could find
and read a lot of books). Keep in mind I report only what I have
understood.
The objective was not to avoid paying income tax on the money I withdraw
from my trading account for living (if you can call life of the trader
living) but to preserve my trading capital from IRS taking one half of
everything I made every quarter (4 times a year). (It is calculating
ether on current year basis or last year basis plus 10%).
In other worlds I wanted to use my capital as the factory uses its
machinery to produce income (because my capital is the machinery in my
business) and pay taxes on income paid out to me as the other businesses
do.
I was explained very clearly that trading is treated differently.
Whatever I would do would not spear me from parting with my trading
capital. I would not go to the details as it may be better to talk to
tax professionals, but not domestic nor foreign corporation would help.
So every quarter I send a check to Mr. and Mrs. Clinton so when you
heard that we successfully bombed hospital, retirement home or use
cluster bombs on the market place in Yugoslavia I could proudly say to
my children I paid for it.
Robert Cummings wrote:
>
> With an Offshore Corporation the Corp would pay no US or Aussie tax. The investors would have a foreign tax liability if they receive any income from the Corp or realized capital gains while living in the US. You on the other hand if you stayed there for two years would pay no tax from a salary you paid yourself from the Corp. After a longer term it of residency it changes to a question of citizenship term of stay in either countries during a calender year.
> Of course the usual deal I really don't know ask a real Offshore tax guy. I would suggest talking to the VP's of an excising Offshore Corp to get references to whom that may be. Plus the IRS watches these very carefully and you need to be sure your on firm ground before attempting this kind of scrutiny.
>
> Robert
>
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