Back in 2015, the US government mandated that the IRS begin passing cold collection cases off to debt collectors. Last week, those contractors were hired and tax information sent out.If you owe money to the IRS, your private tax data is now in the hands of a third party collection agents. You can now expect […]
According to the N.Y. Times, The IRS has begun tracking homes bought through offshore companies and shell corporations in the United States. If you’ve setup an offshore structure, and used your retained earnings to buy real estate in the United States, you’re probably a target of the IRS. Even if your offshore company is tax […]
Thousands of Americans will turn in their blue passports in the next few months. Some because of our crazy political climate, some to stop paying taxes into a broken system, and some because of FATCA and the international banking laws which make it impossible to live or do business abroad. This post will consider what […]
If you’re moving the the United States, get ready for our crazy tax system. Most importantly, if you will become a US resident, be prepared for US tax on your worldwide income. You need to do your pre-immigration US tax planning before you arrive to minimize these taxes. Let me begin by defining what I […]
Once you have your Act 20 business in Puerto Rico up and running, you need to think about protecting its retained earnings or distributed profits. Asset protection for a Puerto Act 20 business becomes urgent because of the amount of capital held in the company tax deferred. There are two levels of asset protection for […]
Moving to the US on with the E-2 Treaty Investor Visa comes with a very big hidden cost. You are by definition a US tax resident and required to pay US tax on your worldwide income AND report your foreign assets to the US government each year. Here’s how to reduce or eliminate that tax […]
Investing offshore and asset protection have become a central theme of the Madoff case in 2016. The US trustee wants to clawback as many of the payments made by Madoff to his clients prior to the fund imploding. Those who got out early want to keep their gains. Only sophisticated parties investing offshore have been […]
If you are going to take your business offshore in 2016, your offshore structure must have substance. No more shelf companies, no more nominee directors, no more trying to fake out the IRS. Taking your business offshore today demands a real office, employees, and work being done offshore. Here is a step by step guide […]
Most Americans think that their IRA is safe… and they would be wrong. Our IRAs and retirement accounts face risks from all sides. Here are the top 5 risks to your IRA and what you can do to protect your savings. 1. IRS Levy of your IRA or other retirement account. The Federal government and […]
Here’s how to maximize the value of your Puerto Rico Act 20 business using the income sourcing rules. Maximizing Puerto Rico sourced income in an Act 20 business, and thus minimizing US sourced income, is the key to unlocking the 4% tax rate offered in Puerto Rico. The rule is simple: only Puerto Rico sourced […]
Here’s how to get residency in Panama using your IRA or other US retirement account. If you want to get residency in Panama through investment, you can use your retirement account in one and only one opportunity. First, let me mention the rules in play when you make an investment and get residency in Panama […]
The Cook Islands asset protection trust is the Fort Knox of asset protection. An offshore trust from the Cook Islands is the ultimate in personal privacy and protection – often imitated but never duplicated. If you want to build an impregnable fortress offshore, you want a Cook Island asset protection trust. The Cook Islands asset […]
If you are considering moving you and a business to Puerto Rico for the tax benefits, be aware that the definition of “resident of Puerto Rico” is a complex one. The US IRS has created special forms and definitions as to who is and who is not a resident of Puerto Rico for US tax […]
If you want to diversify your IRA offshore or out of the US dollar, time is running out. From what I hear, Obama is looking to renew his push for myRA and forcing even more Americans to invest their IRAs in treasuries. If you’ve forgotten the Obama myRA, here’s the new site they rolled out. […]
I’m asked just about every day to compare Panama residency with a second passport program from somewhere in the world. The caller usually has $200,000 to $500,000 to spend or invest and wants to know whether they should go for residency or a second passport. Here’s what you need to know about residency and second […]
If you want to plant a major flag offshore, think about residency in Panama. For those who qualify, the best residency in Panama is the Friendly Nations Visa . Of the 8 or 9 visa programs Panama is running at any given time, the best Panama residency program is the Friendly Nations Visa. Here’s why […]
If you are thinking about coming to America, get ready for high taxes on your worldwide income. In this article, I will explain how to become a US citizen using the EB-5 Visa and Puerto Rico to pay near zero US taxes. The US taxes its citizens, as well as green card holders and residents, […]
You know that offshore asset protection trusts offer the best security available. They’re an excellent way to protect your after tax savings. But, what of your retirement account? In this post I’ll show you how to protect your IRA by converting it into an offshore trust. Let me start by talking about where to build […]
The cost for a second passport from Bulgaria will double in the next year, guaranteed. In this article I will tell you why Bulgaria is the best value in second passports and why it’s set to double or even triple in cost and value in the next year. Let me start by giving you […]
Good news out of Washington for Act 20 businesses in Puerto Rico. It appears that the US has decided to allow Puerto Rico to reorganize its debts in some manner… not formal bankruptcy, but a restructuring with court oversight. The rules would be similar to Chapter 9 for municipal bankruptcies, with a few sections more favorable […]