| Author |
Message |
Bo Knez (Bo328)
| | Posted on Sunday, October 28, 2001 - 5:41 pm: | |
Go to www.belize.com, You can get a passport online for a cool 50k. Belize and Costa Rica are the countries you want to check out if your dealing with more than 10 mil. |
Dave Wapinski (Davewapinski)
| | Posted on Friday, October 19, 2001 - 10:32 pm: | |
An acquaintance of mine, Lance, inheritated around $35,000,000 when his father committed suicide. Lance has increased it to over $100,000,000. Lance has never paid a cent in income taxes.
I do not think that Bill Gates and Microsoft are where they are because they pay 50 % in taxes.
Lance always says to get the best accountants and lawyers that money can buy.
Years ago I had to fight a battle with IRS. It took 6 years, but I won. I realizied that IRS was not fair. However, considering the time, money, and emotional energy, I won, but also lost. This left me with the feeling that if I ever could legally scr_w IRS, I would.
Using Lance's advice, in the battles with ex, costing around $20,000, I generally used the best. Around 60 to 70 % of the time, this worked out great. The rest of the time, I paid preminum rates, but got bad service.
So I have mixed feelings in this area.
In the area of International Business Corporations, there are obviously legal ways. However, there are also some people who recommend illegal ways just to make a buck. So I want to be careful and verify things. To me, it only makes sense to be legal.
Since the New Year is comming up, that would be a good time to make any changes.
Any suggestions on good people is appreciated.
Thanks, Dave |
Dave Wapinski (Davewapinski)
| | Posted on Friday, October 19, 2001 - 8:32 pm: | |
What is the contact info.
Thanks,
Dave
[email protected] |
Adam Goldman '86 TR (Icnsltmfg)
| | Posted on Friday, October 19, 2001 - 4:43 pm: | |
Many of my friends use the Channel Isle haven's off of the UK such as Jersey or Isle of Mann. If you are going to get "crafty" it is best to invest a few dollars and get the services of one of the big 5 firms. While the rates are quite high in the US, personal / small corporate work outside the US from these firms are more reasonable. If you need some specific contacts I have a few from my day's at E&Y and PwC.
Adam |
david schirmer (David)
| | Posted on Friday, October 19, 2001 - 4:36 pm: | |
Check out the Caymen Islands. That also seems to be a haven. Not sure about current laws though. |
Dave Wapinski (Davewapinski)
| | Posted on Friday, October 19, 2001 - 10:29 am: | |
It has been my experience in life that the extremely rich people normally do not pay taxes because they can afford the talent to tell them how to legally avoid taxes.
A while back, I was watching a news segment on the cruise lines. Although very profitable, they pay less than 1 % in taxes. Virtually all the US Cruise Ships fly the flag of the Bahamas, Libera, or Panama. Disney's new cruise liner Majestic flys the Bahamas flag even though more than 90 % of the income is from the US. Bahamas requires them to pay no income taxes. However, Disney is big enough that they can get their own laws passed if necessary. Disney has found a way to legally do it.
When I was in Panama several years ago for the US Government, I was surprised at the size and obvious success of their financial district.
Bahamas would be a nice place to have corporate meetings.
So I checked and Bahamas does not have taxes on International Business Corporations, no inhertinance taxes, etc.
My corporation does most of its business in the US with some international business.
I want to remain legal. I would rather be driving a Ferrari with a beautiful woman than in court. Also I am sure a lot less stressful.
So I called the IRS. After being placed on hold for 48 minutes, I was told that I would have to file a 1120 F or a 1120 FSC form for US Income. No taxes would be owed if there was a trade agreement/treaty between the US and Bahamas. I asked if there was such an agreement and was told that IRS did not release such information to the public.
I briefly looked at the form and it requires no numbers if there is a trade agreement. However, it does not list the trade agreements.
So I emailed a Bahamas site that advertises on the Internet that they set up International Business Corporations. They e-mailed back that there was no trade agreements.
I also e-mailed the Director of the Bahamas Government Agency that seemed to be the closest to this area. They emailed back that there was trade agreements. So far, I have not been able to get any additonal information.
Does anyone have any information or thoughts on this?
Also, my ex-wife tries to keep track of my finances. She normally takes me to court every other year asking for increases in the monies I pay her. How confidential is the information on accounts in Bahamas banks from people like her and the IRS? I have been told that Bahamas gives out more bank information than it used to. Also do banks there have similar rates to US Banks?
If legal, is another country better? I have been told that Panama is really good. I have also been told that Antiqua (probably misspelled) is very good.
You can respond on or off list.
[email protected]
Thanks for any information,
Dave Wapinski |
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