Quote:
Originally Posted by Mutt
what is a legal way to use offshore corps to minimize taxes in your country of residence?
the hugest companies in the world do it, legally. how can a personaly corporation do the same thing?
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offshore corporation - like in seychelles - and an offshore bank elsewhere non-taxable. ccbill wires to the bank and the sales are made by offshore company. no taxes because no customers reside in the domicile of the corporation and the corporation is not liable to any government.
only thing you'd be liable for is personal income tax on your company paycheck. the US govt still wants their cut even if u are outside the country working for an offshore company.
of course the company doesn't file anything to the US IRS, so it doesn't really need to be reported. they might just wonder why u keep getting money wired into your bank account.
large corporate execs will usually keep most of their income offshore or in stock and only bring in a small amount of living expense income. all their cars, planes, houses, meals, clothes, etc are business expenses. thats something i've been legally doing for years after getting it explained to me by my lawyer bro-in-law.
no lawyers in DC pay taxes
