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Offshore Inc. for tax-avoidance trading?
- Thread starter malaka56
- Start date
Quote from fhl:
Does this mean that a nyse company that had a foreign national as ceo making all the decisions, would technically be a foreign company?
That's completely different. Based on foreign laws you can set up a foreign corporation. But according to IRS regulations, if you are a US citizen or resident, they want to know about it because foreign corps. have special tax treatment in the US.
In your example your talking about an US company that is getting taxed like all other US companies. It doesn't matter that the CEO is a foreign national.
Quote from futures_shark:
That's completely different. Based on foreign laws you can set up a foreign corporation. But according to IRS regulations, if you are a US citizen or resident, they want to know about it because foreign corps. have special tax treatment in the US.
In your example your talking about an US company that is getting taxed like all other US companies. It doesn't matter that the CEO is a foreign national.
The question was as to who owns it. If I set up a foreign company, but do not own it, I'm not so sure that they will say that I "technically" own it.
Your spreadsheet calculations are completely wrong.
In column 2 you subtract the 18%, but then on the next row, you ignore the money you just removed, and apply the 60% gain to the *PRE* 18% value.
Basically, your column 2 is nothing more than 60% compounding every year, with 18% removed *one time* at the end.
With taxes, your end value will be far less than $16,332,952,314.24.
Besides, where are you getting 18% from? Real taxes are higher than that.
In column 2 you subtract the 18%, but then on the next row, you ignore the money you just removed, and apply the 60% gain to the *PRE* 18% value.
Basically, your column 2 is nothing more than 60% compounding every year, with 18% removed *one time* at the end.
With taxes, your end value will be far less than $16,332,952,314.24.
Besides, where are you getting 18% from? Real taxes are higher than that.
Quote from psytrade:
Its a reality, I already have the system that makes 60% annually. This is a 100k account compounding while paying corporate tax of 18%. See you still get rich, just wait a while.
Quote from fhl:
The question was as to who owns it. If I set up a foreign company, but do not own it, I'm not so sure that they will say that I "technically" own it.
Actually, I might have been thinking about accounts. There is an IRS form(TD F 90-22.1) that you are supposed to file describing any offshore bank accounts or financial accounts that you either own OR control.