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First, I don't even understand what an IB or BD is?
Second, I have no interest in US tax laws as they do not concern me.
Third, the IRS is only one tax authority in the world. I feel obliged to
remind you that the US in only one state in the world, not the whole world!
If UK authorities do not/or cannot poke their noses into Sark affairs, I see
no reason why US authorities should either. Further, surely any serious tax
planning should also take into account other tax authorities also.
Best,
Gram.
>I have a question? US tax laws require require non-resident with holding.
How
>do you avoid that. You IB or BD is required to conform to non resident
>withholding or be withheld themselves. So assuming the story is correct
how do
>you avoid the w/h issue.
>
>Gram wrote:
>
>> Here: http://www.sark.net/~xott/sarkinfo.html
>> But where you live is only one part of it, you must also organize your
>> affairs properly.
>>
>> -----Messaggio originale-----
>> Da: Eliot Kaplan <eliot@xxxxxxx>
>> A: <realtraders@xxxxxxxxxxxxxxx>RealTraders <realtraders@xxxxxxxxxxxxxxx>
>> Data: 25/06/2000 19:31
>> Oggetto: [RT] Re: R: R: Re: Stocks and futures
>>
>> >Gram,
>> >
>> >Thanks for your response!
>> >
>> >I guess the next logical question is: Where (what country &
state/province)
>> >have you found that is so resident/income friendly that no taxes are
>> >required?
>> >
>> >My wife is Canadian, so I often ponder whether I could trade from there
>> with
>> >significantly less taxes.
>> >
>> >I could get residency through her, and have often considered Vancouver
and
>> >its environs a healthier alternative to Southern CA, which is where I am
>> >now.
>> >
>> >The US with its ever increasing legal controls, taxes, pollution and
>> >overpopulation have certainly got me looking at a potentially quieter,
more
>> >hassle free existence across the border.
>> >
>> >If only winter weren't so extreme!
>> >
>> >Perhaps there are no "perfect" places?!
>> >
>> >So, where are you pray tell?
>> >
>> >Eliot
>> >
>> >
>> >
>> >
>> >Eliot Kaplan
>> >
>> >email: eliot@xxxxxxx
>> >web: www.isu.com
>> >
>> >^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
>> >
>> >
>> >> From: "Gram" <gramario@xxxxxx>
>> >> Reply-To: gramario@xxxxxx
>> >> Date: Sun, 25 Jun 2000 17:43:06 +0200
>> >> To: <realtraders@xxxxxxxxxxxxxxx>
>> >> Subject: [RT] R: R: Re: Stocks and futures
>> >>
>> >>
>> >> Hi Eliot,
>> >> I apologise for the fact that some people perhaps do not realise that
I
>> >> neither live nor operate from or within the US.
>> >> I long ago decided that these costs had to be dealt with in order to
be
>> free
>> >> from some encumberances. I made my plan (much as most of us do when
>> >> trading), and then took steps to nurse and guide it to fruition.
>> >> I have no interest in the IRS or any other institution and there is no
>> >> reason why they should an interest in me..
>> >> I am not a "declared tax free" as you put it; my position is perfectly
>> >> legal.
>> >>
>> >> As to your question:
>> >> "Do you not get audited and harassed by the IRS? There might be a few
>> >> significant time, energy, and dollar costs in that, no?"
>> >>
>> >> The answer is, "No, I do not get audited nor harassed by anyone.
Hence,
>> >> there are no significant costs (whether they be of a time, energy, or
a
>> >> dollar nature)."
>> >>
>> >> Gram,
>> >>
>> >>> Are you just not paying taxes?
>> >>>
>> >>> I presume this means you are among the folks who believe you do not
need
>> to
>> >>> pay, that the Constitution or whatever "asks" for contributions but
does
>> >> not
>> >>> and doesn't have the right to "demand" them. Is this so?
>> >>>
>> >>> I've heard of the "declared tax free', but, like many, I'm sure, have
a
>> >> hard
>> >>> time believing that just not paying would work, and not cause
>> significant
>> >>> problems.
>> >>>
>> >>> Want to enlighten us on what you mean? And how long you've done it
>> >>> successfully.
>> >>>
>> >>> Your point about other trading costs being insignificant in relation
to
>> >>> taxes is clearly so, but I'm sure many of us have a hard time with
the
>> idea
>> >>> we can just walk away from taxes with no governmental recourse.
>> >>>
>> >>> Do you not get audited and harassed by the IRS? There might be a few
>> >>> significant time, energy, and dollar costs in that, no?
>> >>>
>> >>> Just an interested citizen, and I apologize to the list that this
>> inquiry
>> >> is
>> >>> perhaps off topic.
>> >>>
>> >>> Eliot
>> >>>
>> >>>
>> >>> Eliot Kaplan
>> >>>
>> >>> email: eliot@xxxxxxx
>> >>> web: www.isu.com
>> >>>
>> >>> ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
>> >>>
>> >>>
>> >>>> From: "Gram" <gramario@xxxxxx>
>> >>>> Reply-To: gramario@xxxxxx
>> >>>> Date: Sun, 25 Jun 2000 07:39:18 +0200
>> >>>> To: <realtraders@xxxxxxxxxxxxxxx>
>> >>>> Subject: [RT] R: Re: Stocks and futures
>> >>>>
>> >>>> So many people spend time comparing brokers commissions, data feeds,
>> etc.
>> >>>> which do indeed eat into their trading profits. But instead of
>> >> concentrating
>> >>>> solely on trading costs, look at it the other way for a moment:
>> eliminate
>> >>>> all tax, all accountants, all paperwork, inheritance taxes, Capital
>> Gains
>> >>>> and all corporate taxes and see what this does to your trading P&L.
>> >>>> Try thinking of it as $1 earned = $1 kept. It is much easier to
become
>> a
>> >>>> millionaire this way.
>> >>>> If you save 30+% a year on such costs, the choice between CQG or
>> >> Quote.com
>> >>>> becomes easier. You choose the best there is for your needs!
>> >>>> Just an idea.
>> >>>> Gram.
>> >>>>
>> >>>>
>> >>>>
>> >>>
>> >>>
>> >>>
>> >>
>> >>
>> >>
>> >
>> >
>
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