Originally Posted by Mutt

i've never understood it myself, the IRS and CRA are very clear, you must report and pay taxes on all world wide income. anything but is tax evasion, you can dress it up in holding companies in countries which are termed 'tax havens'.

i'd love to put my earnings in a Cyprus corporation and only be taxed on the money i use for personal expenses but it's not legal.

if anybody knows differently, post how it is legal. i'd love to know - i asked two accountants and they laughed at me when i told them what i wanted to do.