Quote:
Originally Posted by acehigh
I see a great deal of generalization from people who are either ill-informed or uninformed. First of all, most of our clients are not US based, yet face the same issues and in most cases even have a tax effective tax rate than Americans do. Secondly, Europeans have been hiding funds in places like Liechtenstein for almost as long as the US has been a country and they are very skilled at it. There are few things to remember when considering an offshore setup.
1. If you do not tell anyone about an offshore account there is a 99.9% chance no one will find out.
2. If you do not use a US billing address for your offshore credit card AND you do not wire funds to/from your US based bank account then there is a 100% chance no one will find out you have any offshore account.
3. The best offshore jurisdictions such as Liechtenstein, Gibraltar, Cyprus and North Cyrus do not share tax data with other countries unless you own taxes in that country meaning only resident companies.
4. The price you pay for the same offshore setup can vary by up to 2000% +/-. One of the most effective offshore setups for high net worth individuals using a Panama Private Interest Foundation, an offshore IBC in second jurisdiction and a corporate bank account in Liechtenstein can vary in prices from as low as $3500 to as much as $10,000 for the EXACT SAME Structure.
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"Ill informed"?
"hiding funds" - i.e. committing tax evasion/tax fraud?
Look you stupid fucking scammer, either you know US tax law or you don't. Otherwise, all you are doing is saying "hey, just try to hide your shit, keep it quiet and hope you don't get caught" and you are telling that to people who can go to prison for decades by following your "advice"
breaking the law is breaking the law. period. end of story. as a US citizen, you are required to pay income tax on any income earned worldwide. that's not something you can argue against. its a simple truth.
all your bullshit about "hiding", "if you do not tell anyone", "99,9% chance", "privacy" etc doesn't change the fact that you have to commit multiple felonies in the USA and lie on your tax returns which ask specific questions about these things. you can't "un-lie" those lies. once you do it, you're fucked and the statute of limitations is 11 years i believe. not only that but tax laws change every 6 months, loopholes close etc etc etc.. so you have to be totally on top of US tax law at any given moment to even make any sort of claim with any degree of certainty
the reason this industry exists in the way that it does is because YOU have zero liability for your "advice" and YOU answer to no regulating body. YOU might just be some dick head who was selling encyclopedias last week and "offshore companies" this week.
how about considering this when considering some "offshore setup"
1) what are YOUR credentials?
2) what are YOUR references?
3) what is YOUR liability for the advice you give?
4) what makes YOU qualified to comment on the tax laws of other countries and give tax advice to citizens of the US?
5) what licenses and certifications do YOU have that makes you qualified to give this advice?
6) why can't YOU be taken to court by governments and forced to share all the info you have about "clients" where taxes crimes are suspected to have been committed?
7) why can't ATM, wire transfers and other similar transactions be subpoenaed from banks where tax fraud/tax evasion is suspected?
8) how many felonies might be involved and what are the maximum criminal penalties (fines and prison time) for someone following your advice for a US citizen?