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#1
07-10-2007, 07:27 AM
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overseas corporations
Are these worth it if you're making <$1M per year?
I am a US citizen but havn't been there in a long time. Not sure when I am going to return. Could I play poker as an overseas corporation? Could I do it living in the US? What are the legal fees associated with this? what kind of tax shelter can I get? What about forming it in a country that does not report bank accts to the USA, could that be benficial or too dangerous? 
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#2
07-10-2007, 12:13 PM
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Re: overseas corporations
[ QUOTE ]
Are these worth it if you're making <$1M per year? I am a US citizen but havn't been there in a long time. Not sure when I am going to return. Could I play poker as an overseas corporation? Could I do it living in the US? What are the legal fees associated with this? what kind of tax shelter can I get? What about forming it in a country that does not report bank accts to the USA, could that be benficial or too dangerous? [/ QUOTE ] Let me know when you find out the incredibly complex and convoluted answers to this. My first guess is it is borderline tax evasion. I'd like to know which side of the line it falls on.
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#3
07-10-2007, 12:17 PM
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Re: overseas corporations
lol wow,, this will so not happen
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#4
07-10-2007, 12:25 PM
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Re: overseas corporations
[ QUOTE ]
lol wow,, this will so not happen [/ QUOTE ] The thing is it probably could. Eventually, you'd have to pay yourself income or dividends from the corporation because you can't start buying your food from the corporate account, but if you can invest it offshore and tax-free this would be incredibly beneficial. I don't think you could do it while in the USA, but I have a hard time seeing how you can't do it.
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