Berkeley CSUA MOTD:Entry 24198
Berkeley CSUA MOTD
 
WIKI | FAQ | Tech FAQ
http://csua.com/feed/
2025/05/25 [General] UID:1000 Activity:popular
5/25    

2002/3/23 [Reference/Tax] UID:24198 Activity:high
3/22    Any comments on opening up an offshore corporation as a tax haven?
        I have heard the taxes are fairly high in japan and thus if you
        make money fromn investment thy will get it, instead if the money
        is investment in the name of a offshore corp the returns are tax
        free. Not sure how Japan looks at tax havens but figure they are
        a little more flexible than US.  Should also note that right now
        the US is not looking as close as they should at this practice
        and thus now is actually a good time to do something like this.
          The way it works is easy. Foreign entity buys lets say a car ( in
        actuality we would just give the car to the entity ). Then we
        sign agreement with entity to rent the car (but for very large
        amounts- but reasonable). That way all the rent go directly intot
        he business and any returns it makes is tax free.
        \_ You just got a huge tax cut, wanker. This may have been
           understandable in the 70's with 70% top rate, but the IRS will
           see through your "business." Tax fraud and shelter prosecutions
           are on the rise. Enron gave foreign entities a bad name.
2025/05/25 [General] UID:1000 Activity:popular
5/25    

You may also be interested in these entries...
2013/9/2-11/7 [Reference/Tax] UID:54736 Activity:nil
9/2     I'm young, and stupid. Does the IRS want reporting on 401K, IRA,
        Roth 401k/IRA? I am decades from retiring, and no plan to withdraw
        anything. But, I just realized that I haven't reported any of my
        retirement plans to IRS for several years, now wondering if I'm
        in big shit...
        \_ The account custodian (bank/brokerage/mutual fund) reports it to
	...
2012/11/5-12/4 [Politics/Domestic/Election, Reference/Tax] UID:54521 Activity:nil
11/5    "Tax Policy Center in Spotlight for Its Romney Study":
        http://www.csua.org/u/y7m (finance.yahoo.com)
        'A small nonpartisan research center operated by professed "geeks" ...
        found, in short, that Mr. Romney could not keep all of the promises he
        had made on individual tax reform ....  It concluded that Mr. Romney's
        plan, on its face, would cut taxes for rich families and raise them
	...
2012/3/5-26 [Reference/Tax] UID:54327 Activity:nil
3/5     My dad is retired and has no income. My income tax bracket is
        pretty high. If I open up a joint high interest CD account with
        him and the INT-1099 comes, is it possible to file it under him
        100% to take advantage of the lower tax?
        \_ IRS says the interest is allocated according to who allocated
           the assets. Do you think it will generate enough interest to
	...
2012/3/7-26 [Reference/Tax] UID:54331 Activity:nil
3/7     "Michigan woman still collecting food stamps after winning $1 million
        lottery"
        http://www.csua.org/u/vp3 (news.yahoo.com)
        `"I feel that it's OK because I mean, I have no income and I have
        bills to pay," she said. "I have two houses."'
        \_ My first reaction was pretty hostile to her, but then, I
	...
2011/4/17-7/30 [Politics/Domestic/California, Reference/Tax] UID:54087 Activity:nil
4/17    http://news.yahoo.com/s/ap/us_no_taxes
        "The super rich pay a lot less taxes than they did a couple of decades
        ago, and nearly half of U.S. households pay no income taxes at all."
        And people are still complaining about taxes being too high.
        \_ yeah but only 3 out of the 5 people who aren't rich but complain
           are actually counted.
	...