|
PureBytes Links
Trading Reference Links
|
Group-
Can anyone cite any legitimate reference to the 18 month rule; cited below?
I don't believe it.
chas
> ============================================================
> >
> > ----- Original Message -----
> > From: Charles Meyer <chaze@xxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>; <Sigstroker@xxxxxxx>
> > Cc: <realtraders@xxxxxxxxxxxxxxx>; <gannsghost@xxxxxxxxxxxxxxx>;
> > <ntt-list@xxxxxxxxxxxxxxx>; <amibroker@xxxxxxxxxxxxxxx>
> > Sent: Friday, April 04, 2003 10:12 AM
> > Subject: Re: [RT] Re: taxes --- Offshore havens, etc.
> >
> >
> > > Ben-
> > >
> > > I spent a great deal of time on this strictly from a lay point of
view;
> > and
> > > at the request of
> > > someone who asked me to network on the subject of offshore. Without
> going
> > > into a great deal
> > > of detail here is a summary of our conclusions:
> > >
> > > * For VERY wealthy people; it has been tax efficient to go offshore.
> By
> > > 'tax efficient' I mean
> > > the wealthy who earn so much money on which they pay taxes; they are
> > > compelled to go to great lengths to save on tax dollars. IOW: there
are
> > > certain income brackets who cannot afford to NOT try and go offshore.
> > (BTW;
> > > I am not one of these people. (:-) I just tried to help someone who
> > asked
> > > me to look into the research.)
> > >
> > > * IOW they are going to pay onorous taxes anyway; so they will go to
> > great
> > > lengths to try
> > > and shelter as much as possible.
> > >
> > > * There were/have been ways to do this legally BUT a lot of these
> > loopholes
> > > have been closed
> > > and are closing.
> > >
> > > * All the legal areas are composed of various shades of GRAY. The
IRS
> > > MIGHT say they
> > > are legal......or illegal........if challenged. If challenged and
> deemed
> > > they must pay taxes they
> > > would have had to pay those taxes anyway; so nothing ventured; nothing
> > > gained.
> > >
> > > * It is VERY expensive to have specialized lawyers create the
necessary
> > > documents which
> > > create these tax-efficient structures.
> > >
> > > * You then get in a trap of having to DEPEND ON LAWYERS from year to
> year
> > > as the tax
> > > rules change and their need to abolish old structures and create new
> ones.
> > > This is both time consuming, expensive, and stressful for those who do
> not
> > > fully understand the legal gymnastics
> > > that occur in the game of staying one step ahead of the tax rules.
> > >
> > > * The only way to do what the e-mail below suggests (not pay taxes
> > > legally/or illegally) is to
> > > take BOTH you and your money offshore with the prospect of never
> > returning.
> > > That would
> > > probably work; but hey I'm no tax expert. (:-) I think there is some
> IRS
> > > tax for taking money
> > > offshore where you pay pay a premium on all your money before it
leaves
> > the
> > > country.
> > >
> > > * It DOES pay to establish an offshore entity for the purposes of
> > > protecting your assets from
> > > lawsuits, etc. These are pretty cut and dried and they work for the
> > > purposes of keeping money
> > > out of the hands of greedy lawyers, lawsuits, etc. Perhaps even
> > disgruntled
> > > spouses. (:-)
> > >
> > > * I just pay my fair share of taxes like everybody else; because I
> don't
> > > have enough money (nor will I likely) to worry about this subject.
> > >
> > > FWIW..........I just wanted to chime in here on my limited experience
in
> > > this area.
> > >
> > > chas
> > >
> > >
> > > ----- Original Message -----
> > > From: profitok <profitok@xxxxxxxxxxxxx>
> > > To: <Sigstroker@xxxxxxx>
> > > Cc: <realtraders@xxxxxxxxxxxxxxx>; <gannsghost@xxxxxxxxxxxxxxx>;
> > > <ntt-list@xxxxxxxxxxxxxxx>; <amibroker@xxxxxxxxxxxxxxx>
> > > Sent: Thursday, April 03, 2003 12:49 PM
> > > Subject: [RT] Re: taxes --- Offshore havens, etc.
> > >
> > >
> > > > Hello
> > > > Let me share my experience with very well to do clients who took
> the
> > > > trouble to hire tax attorneys to set up all kinds of gimmicks to
> avoid
> > > > paying taxes
> > > > (including changing citizenship to other countries with lower or no
> > tax)
> > > > this EVENTUALLY back fire and cost them MUCH more then the original
> > taxes
> > > > due
> > > > (legal and accounting fees) to avoid jail
> > > > hope this help those who even Consider doing this
> > > > nice day
> > > > Ben
> > > > ----- Original Message -----
> > > > From: <Sigstroker@xxxxxxx>
> > > > To: <omega-list@xxxxxxxxxx>
> > > > Sent: Thursday, April 03, 2003 2:01 AM
> > > > Subject: Re: taxes --- Offshore havens, etc.
> > > >
> > > >
> > > > > "Come and go as you please"? How easy is it to get a visa to enter
> the
> > > > U.S.
> > > > > after renouncing citizenship?
> > > > >
> > > > >
> > > > > In a message dated 4/2/03 7:23:52 PM Pacific Standard Time,
> > > > > l.walko@xxxxxxxxxxx writes:
> > > > >
> > > > > > You CAN live quite nicely and walk away in such a manner that
the
> > > > > > IRS cannot get you. Two options:
> > > > > >
> > > > > > (1) if you are a US citizen, renounce it --this has no impact
on
> > > > > > your children or spouse although you will not be able to vote.
> > > > > > Once you stayed away from the US for 18 months plus one
> > > > > > consecutive day, you can come and go as you please. If you
> > > > > > return prematurely, the IRS will consider your move a tax
> > > > > > avoidance scheme and force you to pay up.
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Get a FREE REFINANCE QUOTE - click here!
http://us.click.yahoo.com/2CXtTB/ca0FAA/i5gGAA/zMEolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|