Living on a boat and avoiding taxes

Quote from JangoFolly:

Do you think it's just a matter of time until the US bullies nearly all of the reputable banks (reputable from the perspective of an account holder, not the IRS) into participating in its patriot games?
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for sure

One country is still good i believe and that is Israel, don't quote me on this one though. As far as I know there is loads of American Jewish money in Israel, the US is trying pretty hard to get Israel to concur to the US laws, but so far no result and I guess there might never be.
 
Quote from romik:

for sure

One country is still good i believe and that is Israel, don't quote me on this one though. As far as I know there is loads of American Jewish money in Israel, the US is trying pretty hard to get Israel to concur to the US laws, but so far no result and I guess there might never be.
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No offense to any Jews or Israelis, but who wants to live with the fear of suicide bombers everyday? No me :(
 
Quote from dandxg:

No offense to any Jews or Israelis, but who wants to live with the fear of suicide bombers everyday? No me :(
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You can only understand this if you are indeed Jewish my man :) i believe it's called patriotism as well.
 
Quote from Perseus:

I would like to open a hedge fund, ponzi it for a while and finally take all my client's money. which country is the best to do that in and then where do I escape to?
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Ah - wouldn't we all love to do that. :)
 
Quote from romik:

You can only understand this if you are indeed Jewish my man :) i believe it's called patriotism as well.
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I think the other poster meant which EXPAT would want to live there with the fear of suicide bombers. It wouldn't be at the top of my list as well...

Erik
 
this is a question for traders from the UK (and perhaps other European countries). What are UK income tax liabilities of a day trader making a living from trading US futures, if he is always on the road. 1 month in Italy, 3 weeks, in Spain, 2 months in the US, etc and spending around 3 months a year in the UK (not consecutive).
 
If you are upset by paying US taxes increase your trading position size and/or cut back on your expenses to simplify your lifestyle. Be grateful you are living in the USA where there are still free markets for free men. Taxes are a cost of doing business - fill 'em, bill 'em and forget 'em. Think about how much more money you are going to make in 2006 than how much tax you are going to have to pay. Try to think about how much fun you are going to have spending your money instead of worrying about how the government is going to waste your tax payments on boondoggles. Think big and think positive and you will trade with more authority and fret less over the Infernal Revenue Service.
 
" try Hong Kong.

almost anybody and everybody can get a residency permit here.
no cap gain
no sales tax
no income tax for income not earned locally
narrowly defined income for tax purposes

other locale for consideration:
Thailand
Sri Lanka
Bali, Indonesia



Sri Lanka? With civil war?
Bali? With bombs and terror?

I prefer Europe/Italy."

Thailand is a great place but has a very high tax regime, and strict laws on residency and property ownership.

Hong Kong has zero capital gains tax, and income tax tops out around 12/13%.

Renting is pretty expensive though, around $ 3,200 for a decent 2/3 bed flat.
 
Quote from romik:

this is a question for traders from the UK (and perhaps other European countries). What are UK income tax liabilities of a day trader making a living from trading US futures, if he is always on the road. 1 month in Italy, 3 weeks, in Spain, 2 months in the US, etc and spending around 3 months a year in the UK (not consecutive).
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As long as you're spending less than 90 days or so a year in the UK, you're classed as non-resident and not liable to tax on worldwide income.
 
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