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There are hundreds of web sites out there more than willing to set you up
with a "tax-free" structure for a few thousand $'s, but you might want to
check this site out.
http://www.falc.com/
There's a lot of hype associated with offshore banking, and this site
dispels some of the myths and offers a more practical and down to earth view
of what is and is not possible.
Generally, the offshore trust/IBC format is very effective at asset
protection, can provide access to superior investment vehicles not available
within the U.S. or Canada and, properly structured, can defer or
indefinitely avoid tax. The honesty, or otherwise, of the trustee should
not be an issue, as there are safeguards built in to most schemes that
prevent this sort of thing.
However, as with most things involving the law, the area is a minefield, and
you need to tread with care.
Andrew
----- Original Message -----
From: "Gary Fritz" <fritz@xxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, April 03, 2000 2:10 PM
Subject: [RT] Re: no income tax, it's called a profit tax only for
corporations
> Is anyone familiar with Merrill Scott & Associates? (Web site at
> http://www.merrillscott.com.) This company is based in the Bahamas
> with U.S. headquarters in Salt Lake. They claim to be able to
> dramatically reduce your taxes through the use of offshore trusts &
> the like. I am nervous about strategies like this because 1) the IRS
> may summarily deny it anyway, and 2) in order to avoid taxes on the
> money in the trust, I believe you essentially can't own or control
> the money in the trust, so what's to keep the trustee from absconding
> with your funds and retiring in Rio?
>
> I'd like to talk to anyone with experience in this area. Reply
> privately if you prefer.
>
> Gary
>
>
>
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