Quote:
Originally posted by HeadPimp
Plenty of legal reasons to have a stash that no one knows about. Never know when you are going to have to bail out, and can't access your conventional funds.
|
Dunno about you, but I can point you out to several holocaust survivors that thought the same way before the war and they are still trying to get their money back. Nothing wrong with having a nice fireproof safe with a large "rainy day" fund or investing in gold or other convertible currencies.
Just because you are sticking your money outside the physical reaches of Uncle Sam, doesn't mean he doesn't have the capabilities of piercing those accounts. Saddam Hussein has an estimated $40 Billion stashed away, and that is more than likely going to cover some of the petty cash expenses of taking Iraq.
If you are doing it to keep your wife, girlfriend, boyfriend, business or domestic partner from being able to sue you, contact a good lawyer now who has a good practice in these matters and you would be suprised as the structure these guys can create. I am still trying to collect a debt on one client that drives a new Lexus every two years, lives in an upper class part of town, always has a few hundred on his person, but he has none of it in his own name, just try suing a ghost.
Lastly, we get to the issues of dealing with Homeland Security, which can be more scary than having the IRS putting your house up for auction, DHS can see to it that you have an all expenses paid 'vacation' at Camp Delta and it could be years before you can smell the wool of your attorney's Armani suit.
If DHS even suspects you are up to something fishy, they can launch a full investigation with the powers of both Patriot Act I and recently signed Patriot Act II, you don't have to be a terrorist to have those laws used against you, they have been used recently in Las Vegas with a strip club owner.
The only advice I can give you about putting money into an offshore account is make sure its funds that you have already paid your taxes on and can prove this in a court of law. Its not illegal to have an offshore account, but U.S. citizens have to list it on their taxes, and U.S. citizens are also taxed on their earnings worldwide.
If you still feel you must have an offshore account, just see a competent lawyer before doing any of this, you will save hours of aggravation and thousands in legal fees later.