Well, my reply never made it to this thread; moderator must have
disapproved it. My foolproof method remains a secret. Just as well I
suppose.

RL

Morgan wrote:


======================================= MODERATOR'S COMMENT:
We would like to read about your foolproof method. But as we said when we returned your post, it was too long. Please consider condensing it for all to read. - HWW

Excatly, tax avoidence is to be manipulated at every oppuntunity.
Controlling your monies exposure to the brunt of taxes is simply
sensible.

Tax Evasion on the other hand is a completely different story. For one
thing, you are breaking the law if you don't pay any tax whatsoever
while living in the country 100% of the time that you worked/invested
that year.

The truth is that it is too risky to commit tax evasion, and for what?
For a miserable 5-6% extra tax?? (decent tax avoidence would pare your
main work taxes down to about 6-10% tax per year.)

Anyway, tax avoidence is easy. Just invest in a roth a/c if you happen
to be usian, or any other tax free pension in your country of origin.
The rest is just details, like not being stupid enough to buy heavily
taxed goods like SUV's. (at least where I live in europe, maybe not in
the USA)


Mechanics of Money Financial BBS wrote:
- quote -


======================================= MODERATOR'S COMMENT:
Please trim the post to which you are responding. "Trim" means that except for a FEW lines to add context, the previous post is deleted.

Ray,

There are a number of ways to do things like this, all of them legal --
but many of which may or may not produce unfortunate tax consequences.
For example, using foreign life insurance to purchase your US business
(assuming that the US business has no US real property -- to avoid
FIRPTA) or setting up a CFC/PFIC to take advantage of the 163(j)
stripping provisions or using foreign leasing transactions. It really
is easy to do. No magic needed. Just some basic tax knowledge.



Gary Brolis
http://www.mechanicsofmoney.com




raylopez99 wrote:
- quote -

Subject to the moderator of this NG letting this message in, and
subject to audience interest (I will calendar to check this message in
about a week), I would like to start a thread on "legal" and
"foolproof" ways of "laundering money".

What I mean is this: moving your money offshore from the USA and then
having it disappear, legally, and without having to renounce your
citizenship.

I figured it out, and it's foolproof and legal, but I'm not going to
get into it unless a lot of people are interested.

Here's a hint: it involves always filling out the relevant paperwork
with the US authorities, then buying real estate with your money. But
it's more complicated than that, and it depends on which country you
buy your real estate.

Any "Marc Rich" wannabes out there?

Of course you realize that posting on the Internet is not
anonymous--unless you go through the bother of randomizing your
internet address, it can be traced to you, and the IRS/Homeland
Security databases are getting bigger and better every year, thanks to
Oracle and others-- not to mention that your SysOp knows what you are
posting at all times and might be tempted, if in a bad mood, to send a
letter to the IRS accusing you of money laundering, which, if it can be
proved, carries, post-Patriot Act laws, a penalty more severe than
murder (depending on how much money is laundered).

Still interested? LOL. It's foolproof, but even as I type this I
wonder if I should be talking about it, since it took me about 10 years
to figure out. Not that I plan on doing it mind you.

Ray


======================================= MODERATOR'S COMMENT:
In the interests of demonstrating once again that financial security comes from living within one's means and saving regularly, feel free to post/discuss your "foolproof" discovery.