Just set up some sort of entity like an LLC or LP and then pay capital gains tax rate of 15%, then you can continue to live in America....Better than paying 35.5%!
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Setting up offshore or moving to trade
- Thread starter Ialwayslearn
- Start date
Quote from GlennJGraham:
Just set up some sort of entity like an LLC or LP and then pay capital gains tax rate of 15%, then you can continue to live in America....Better than paying 35.5%!
not so fast...
http://www.smbiz.com/sbrl001.html
don't forget you salary and SS taxes with it. we talk about here not so long ago Personally-i did not see any benefits in incorporating vs regular individual account for trading purposes. if someone can demonstrate those benefits in numbers(based on 100K profit example)-i would really appreciate that.
Quote from Ialwayslearn:
If one were looking for tax savings on trading income by relocating outside of the US, what are some considerations.
Do you give up citizenship? Have dual?
Any thoughts on any aspect of this.....this is wide open for discussion.
Is this a thread about HOW TO DECEIVE THE FEDS?
That in itself is a criminal offense that carries severe penalties and jail sentences. A US citizen has to pay income tax no matter where he resides. Besides your brokerage house won't help you much they will report to the Feds on your 1099 or any tax document you will eventually get.