Quote:
Originally Posted by TheDoc
Yeppers, I know how it works, in detail. It may be legal to setup like this but it is not legal to move your money or assets to these offshore companies. It is not legal to use your U.S. company to fund/move promote/push, ect and get that Company money without the U.S. Company paying tax on it. - Private held, not owned, or owned by a Monkey - it's illegal.
If you are moving money from a U.S. Corp, to an IBC, to a foundation, which pays you tax free - that is tax evasion. Period.
And people "ARE" going down for this exact setup.
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Done in that manner, you are 100% correct.
People are going down for THIS EXACT thing. But mostly because they do it all wrong from the get go and don't understand what they are doing.
Though for every 1 guy that goes down hard, there are 100 or 1000 that glide through and will continue to do so. Even done in a manner that is illegal it is still very low risk if one would choose to do such a thing.
Moving the $ from q USA corp to anywhere for any reason will get you looked at. Period.
You really have to live abroad and earn foreign income to take full advantage of the current tax system.