Maybe this will help....www.trustprofessionals.com....works great for me
- | Joined Sep 2006 | Status: Member | 497 Posts
"The time to act is when others show signs of tire." --W.D. Gann
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Quoting MrWhippleDislikedIn the US the way to avoid income tax is to avoid income. It is really quite simple. Just don't make any money. I have been doing this verry successfully for years and years. There is no trick to it at all.
If you are into Forex it is even easier. Just trade like there is no tomorow. Trade trade, trade, day and nite, just trade. Take the good trades with the bad ones and soon, even if you had a bit of money to start with, now you will have none and you can mabie even take the loss forward to the next year. (see a tax professional for any and all tax advice.)Ignored
Quoting hunter101DislikedI have a question reguarding taxes.
If i make money in the FX world, do i pay taxes for the money i withdraw? Or do pay taxes for all of my earnings in my fx account?
Wouldnt it make sense that i pay taxes for the money i withdraw, rather than the money that is aggregated in my account?Ignored
Quoting SidusDislikedCome and live in Belgium, like me.
We don't have taxes on profits out of investments!!!! We only have a tax of 25% on interest. (But ForEX and Stockprofits are 100% taxfree)
I love my country!
BTW: We have an exellent Social Security!Ignored
Quoting johnedoeDislikedof course you can find another country that has less tax burdens and give up your citizenship in your presantly taxing country.Ignored
Quoting turbokaosDislikedEven if you renounce your citizenship you still maybe subject to pay taxes for the next several years.
So if you want to play you got to pay...
Now I asuming your trading profits are more than 80k a year if not I don't know what the hell where all talking about this for..
Cause if you live offshore and you not in the US for more than two week with in the year you are execpt up to 80K
But then your more than likely going to be subject to tax in that country
turboIgnored