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Before I tackle your points, would you please explain this better, perhaps
with an example:
"You IB or BD is required to conform to non resident withholding or be
withheld themselves"
Many thanks,
Gram.
-----Messaggio originale-----
Da: The Doctor <droex@xxxxxxxxxxxx>
A: gramario@xxxxxx <gramario@xxxxxx>
Cc: realtraders@xxxxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxxxx>
Data: 25/06/2000 20:36
Oggetto: Re: [RT] R: R: Re: R: R: Re: Stocks and futures
>You can't have a securities account or futures account using US products
without
>either a social security number or be subject to non resident withholding.
If
>you open an account at Schwab, Refco or UBS to trade in the US you have to
>supply a US SS # or be subject to non resident withholding on dividends and
>proceeds.
>
>Now I assume you are going to claim you use a non US broker. To clear a US
>product they need to have a US sub which conforms.
>
>For example ... in securities and futures there are size position reports
which
>your broker has to submit. They either have to have a SS# or the brokers
>SS#.... with an SS# the broker is subject to non resident withholding.
There
>are no exceptions.
>
>You can live on MARS it wouldn't make a difference. There are asset
havens
>once you have the funds ..... no income havens using securities or futures.
>Even if your broker has an offshore sub or you trade through the London
office
>of a US member.
>
>Gram wrote:
>
>> 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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