[quote]orion wrote:
LIFTICVSMAXIMVS wrote:
MaximusB wrote:
You have watched too many Bourne movies.
No, actually I haven’t. But still, I stand corrected. Where can I hide my money?
If you have a lot of it there are anonymous trust funds in Liechtenstein?
[/quote]
See the thing is I don’t have a lot because I have been paying taxes…I have finally become debt free and will be saving about 50% of my income so I have the potential to amass a bit in the next few years. I want to use this to start buying assets but if I continue to pay taxes I am not going to get to my goal very quickly.
See the thing is I don’t have a lot because I have been paying taxes…I have finally become debt free and will be saving about 50% of my income so I have the potential to amass a bit in the next few years. I want to use this to start buying assets but if I continue to pay taxes I am not going to get to my goal very quickly.[/quote]
If your primary source of wealth continues to be income, you are going to be buying your “assets” with post-tax dollars, unless you get paid under the table and don’t report the income. You aren’t avoiding taxation on the first go-round.
If you want to avoid taxation a second-time, your best bet is old, unexciting, traditional municipal bonds. Sophisticated trust and other financial services domiciled in the Caymans don’t let you open up a checking account with $25, nor do they give you a free toaster. Unless you have enough wealth to matter to bankers who have shoe collections worth more than your house, then all this talk of secretive money shelters is exactly that - just talk.
"THE TICKING TIME-BOMB THAT WILL REVEAL EVERY SECRET ACCOUNT WORLDWIDE.
Elite Reader
A lot has happened this year. We have seen tax haven blacklists thrown about like confetti, and the â??developedâ?? world united in a new war against tax havens.
A domino effect has knocked out the prime European tax havens one by one. The list of the fallen leaves offshore banking looking like an elephantâ??s graveyard. Below are just some of the proud nations that have recently agreed to sign-up to Article 26 of the OECDâ??s Model Tax Convention, agreeing to share tax-related information with other OECD countries: Andorra, Monaco, Singapore, Hong Kong, Singapore Switzerland, Liechtenstein, Belgium, Austria, Luxembourg, Gibraltar. At a G20 summit on April 2nd, a list of countries was â??blacklistedâ?? for NOT agreeing to sign up to the OECD convention: Costa Rica, Labuan and the Philippines
Uruguay was briefly blacklisted in what seems like some kind of tragic â??administrative errorâ?? (one too many bottles of Châteauneuf-du-Pape at OECD headquarters), and de-listed 48 hours later. The other blacklisted
countries were also swiftly delisted after promising to adopt OECD regulation.
Full Blacklist Here Basically the whole thing is a giant confusing morass â?? a ceaseless riot of noise and illusion. How do you get through all that and separate right from wrong? How do you know who is bluffing and who is telling the truth about bank secrecy and how it affects your privacy? The G20 and OECD blacklists are more hype than substance for two reasons:
Tax Goliaths have the financial crisis on their plate and â??secrecy jurisdictionsâ?? make great scapegoats
Bank secrecy laws donâ??t even have to change if investors scare themselves into confession and disclosure.
We outline what the REAL fallout of these black-listings will be and their ACTUAL effect in an upcoming publication â??The Black-Belt Guide to Offshoreâ??. Donâ??t worry Iâ??ll be sending sneak previews exclusively to e-course readers. â?¦but thereâ??s a much bigger risk (and blacklist) on the horizon. â??THE TICKING TIMEBOMB THAT WILL REVEAL EVERY SECRECT ACCOUNT WORLDWIDEâ??â?? We are talking about â??STOP TAX HAVEN ABUSEâ??, 2.0…
Where the last STOP TAX HAVEN ABUSE bill was timed out, Senator Carl Levinâ??s office has introduced a new bill with amendments, this time with explicit White House support. This new monster has the possibility to seriously affect your offshore business â?? regardless of nationality because:
Obama made the original, and supports it
Leaders of tax Goliaths worldwide have joined forces to attack tax havens they donâ??t like…
Donâ??t fool yourself, this trojan is slowly burrowing its way underneath your offshore structure just waiting to explode once it passes in a couple of years. So what are the new methods that governments will use in â??offshore warfareâ???
Hereâ??s a summary of the amended stop tax haven abuse act Itâ??s what high-tax governments are already referring to as â??The Nuclear Optionâ??. Essentially what crafty legislators have done is drawn up a list of â??secrecy jurisdictionsâ?? in which the following rules will apply:
I) Any Transfer between your domestic account and an offshore company in a â??secrecy jurisdictionâ?? will imply beneficial ownership of that company!!
II) Any Offshore Account in a secrecy jurisdiction will be presumed to contain over 10,000 dollars, making it reportable. Essentially this would make it illegal to be the beneficiary of an offshore account (even if it contained $0.00) in an â??offshore secrecy jurisdictionâ??.
Whatâ??s the basic message we are getting here? Stay out of â??offshore secrecy jurisdictionsâ??. You can find a list of safe places for 2009 in the Black-Belt Guide to Offshore â?? make sure to check you inbox for updates on the release. Tip: the US and UK are some of the biggest tax havens in the world. Use this to your advantage â?? itâ??s their Achilles heel. Are You Exposed To â??Offshore Warâ?? ? Well the good news is
This problem is easy to fix if you know where to look
Youâ??re not alone.
Now we hate to say â??I told you soâ?? but changes in bank secrecy and black-listings are exactly what our E-course predicted, written over a year ago. If you havenâ??t got yourself a copy, do so now right now (here). What are the basic principles? Every US dollar transaction worldwide goes through NEW YORK and can be traced by US authorities. The world political and economic climate is too volatile and complicated to simply assume that a bank that was â??safe and privateâ?? last year still meets those requirements!
The â??blackbelt guide to offshoreâ?? expands on these principles and demonstrates how you can a) Operate in an environment with minimal financial reporting requirements and, b) Achieve the highest degree of financial privacy (the ULTRA SECRET numbered bank account).
But first let me tell you a bit more about the man who wrote it:"
It has become much more difficult to hide money these days, make no mistake, some people are shitting their pants. Companies are running to the IRS and tax professionals to handle what could be big problems…
All of this prompts me to wonder, is it a good time to switch to an accounting major? I was considering a BS in Statistics, then an Actuarial career. However, I’m not encouraged by the recent grumblings on Actuarial forums. Yeah, yeah, off topic. Humor me, I’m bored and have been considering this all day.
Besides, I always leave the most important decisions in my life to the whims of the PWI dwellers.
[quote]Sloth wrote:
Humor me, I’m bored and have been considering this all day. Besides, I always leave the most important decisions in my life to the whims of the PWI dwellers.[/quote]
[quote]Varqanir wrote:
Sloth wrote:
Humor me, I’m bored and have been considering this all day. Besides, I always leave the most important decisions in my life to the whims of the PWI dwellers.
So how did you get your username again? ;)[/quote]
All of this prompts me to wonder, is it a good time to switch to an accounting major? I was considering a BS in Statistics, then an Actuarial career. However, I’m not encouraged by the recent grumblings on Actuarial forums. Yeah, yeah, off topic. Humor me, I’m bored and have been considering this all day.
Besides, I always leave the most important decisions in my life to the whims of the PWI dwellers.[/quote]
As long as there is business, there is a need for accountants. And in the wake of the financial fallout, there will be a considerable amount of adjustments going forward - and accountants will be walking away from it carrying big briefcases full of money.
