The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Investing from offshore accounts||Date: 11/18/1998 10:24 AM|
|Author: TMFTaxes||Number: 6358 of 121061|
[[Does anyone out have opinions/experience with investing from offshore accounts to avoid capital
gains and estate tax burdens? I would appreciate any info you could share with us.]]
Problem is, if you are a US citizen, you are required to pay taxes on any income and gains earned worldwide. It doesn't matter if you have an account in the Cayman Islands...you are still liable for the taxes on any income or capital gains.
You certainly can find "promoters" out there that tell you how to "avoid" taxes by using various sexy arrangements with off shore issues. But, sooner or later, you'll want to bring those funds back into the country...and that could be a problem.
But we generally don't talk about those issues here. They are way too complicated and potentially risky to discuss here. Your best bet would be your local bookstore.
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