Financial Planning 2016 – because you waited too long for Tax Haven Planning In 2015

Read more at http://www.youroffshoremoney.com

Tax Haven Checklist for 2016 : Why Go Offshore ?

The  Steps to  Your Offshore Success  :What Is Your Tax Plan for 2016

 

First Step : Identify your Goals – Why Go Offshore?

WHY GO OFFSHORE?

The motivations for individuals and corporations to utilize offshore planning and offshore companies include the desire to:

Reduce tax

Protect assets

Manage risk

Maintain privacy

Avoid bureaucracy

Reduce costs

Enhance assets

THE BENEFITS OFFERED BY OFFSHORE COMPANIES

 

More specifically, the reasons for going offshore and utilizing offshore

companies for tax planning and offshore business include:

Free remittance of profits and capital

Access to top-rated debt history jurisdictions

Access to tax treaties

Security of property rights

Accessing low cost areas

Banking privacy

Reduced taxation

The search for political stability

Your Investment Portfolio

Investment holding / wealth management

Professional services or consultancy

Patent, royalty and copyright – isolating payments to a no or low cost

jurisdiction

Personal and corporate tax planning

Step 2

Offshore Banking

Jack A. Bass and Associates has specialist expertise and knowledge of the

ever varying account opening and maintenance requirements of a wide variety

of reputable international and offshore banks.

Potential clients must understand that opening an offshore bank account is

not a simple matter and can be time consuming. Some offshore and

international banks may take longer than one month to open an offshore bank

account from receipt of a completed bank account opening package.

Consequently potential clients are encouraged to ensure that they provide

us with a complete picture of themselves and their intended business

activity.

Step 3

Asset Protection

The unexpected protective consequence of the LP structure is actually

what gave birth to Asset Protection. What the banks found out was that the

Limited Partners were unable to force distributions to pay their other

obligations. The big news was that neither were the banks, even when they

had valid judgments! They were only allowed the wimpy remedy of a “charging

order.” The net effect was that the banks were happy to settle for much

less than owed, rather than wait it out for an indefinite period with

General Partners that were friendly to their investor debtors, not to the

banks.

This was the birth of asset protection planning. Many of those investors

happened to be doctors. If it worked for banks, why wouldn’t it work for

malpractice suits or employee lawsuits? The answer was that it did!

Thus was born a new field of law: Asset Protection. Since the Limited

Partnership (LP) worked so well during the real estate crash, it became the

base of the new planning. However, instead of many different investors as

Limited Partners, the new Asset Protection planning used only the immediate

family members. Thus the LP became known as the Family Limited Partnership

(FLP).

Today, there are over two-dozen foreign jurisdictions that have enacted

specific asset protection legislation, including: The Bahamas, Belize, Cook

Islands, Bermuda, Nevis, Cayman Islands, Cyprus, Gibralter and the Turks &

Caicos Islands, to name just a few.

The Gold Standard is The Cook Islands Trust – note an asset protection trust is NOT a tax reduction plan – you still are responsible to pay taxes on the trust assets.

If you are serious about preserving your wealth, the  Asset Protection Trust is the most serious, well-thought out plan ever devised.

I cannot encourage you enough to take the time to educate yourself about the options available to you and how you can truly protect what you have worked so hard to create.

NEED ADVICE? The MAGIC Bullet Steps of Offshore Success

Your Goals –Combined With Guide Our Expertise

If you’ve found your way to this page, chances are strong that you’re a

value creator and want to keep more of the money you get as a result of

creating value. You can only rely on yourself – you cannot rely on a

government agency for your financial future.

We’ve Done All the Research

We’ve done all the research and conveniently gathered all U.S. and

International regulations pertaining to Asset Protection,Tax Havens, Tax

Planning,Offshore Banking , Information Technology, Physical Security,

Records Management, Privacy, and Third Party Invoicing into one place

An overview of our assistance with your goals:

There are dozens of jurisdictions, such as Luxembourg, Hong Kong,

Singapore and the British Virgin Islands that offer a great business

environment with fully legal tax benefits.We have to match your goals to

the right jurisdictions.

The Magic Bullet Step Number 1

The most important thing that you MUST do is seek advice from qualified

advisor – Jack A. Bass, B.A. LL.B. (someone who understands international

tax jurisdictions and tax law) . Your advisor must understand the benefits

of particular offshore jurisdictions. It is your responsibility to take

action.

In most jurisdictions you can set up your offshore company in as little as

a few weeks. We most often start the process with registering a company

name and sending in the right documentation and supporting documents for

the incorporation and a bank account(s) or merchant account for you and

your business. All of this can be conducted by internet on in rare cases we

will attend in person – for you.

The Magic Bullet Step Number 2

Specific Action – Move Your Assets To A Low / No Tax Jurisdiction

The key is in the planning and design. Clearly the most tested and solid

plans begin with an offshore jurisdiction.

Second to jurisdiction is the structure of your accounts – incorporation,

design, layering and bank accounts.

The Magic Bullet Step 3

Thirdly (more important for some clients than others) is what we call the

Asset Protection via Limited Partnership or Trust. This tool creates the

initial legal barrier between you and your money and whoever may want to

get at it. It is designed to hold “Safe Assets,” such as Stocks, Bonds,

Mutual Funds, Notes Receivable and other Liquid Assets. The LP may also own

membership interests in Limited Liability Companies (LLCs) that may have

been created to hold “Risky Assets” such as real estate, income producing

properties, boats, airplanes, etc. Once these risky assets have been

sanitized by placing them in an LLC, you can now safely hold those

interests. Importantly, LLC owners like the shareholders of a corporation

generally cannot be held liable for the acts of an LLC.

 

Contact Information:

To learn more about offshore company formation and structure your business

interests overseas ( again- at no cost or obligation)

Email info@jackbassteam.com

all email answered within 24 hours

or

call Jack direct at 604-858-3202 for a  one  half hour no fee consultation.

10:00 – 4:00 Monday to Friday ( same time zone as Los Angeles).

A business based overseas, coupled with an offshore bank account, is the perfect medium to build your wealth in a low tax jurisdiction. YOU CAN DO THIS and Jack A. Bass can help !

IF YOU WANT SOME HELP ON LOWERING YOUR TAX BURDEN  there is no cost or obligation to enquire and there is no benefit to inaction.

VIDEO

JB offshore.mp4  The First Rule Is Safety

 

Linkedin  John Bass

Secret Video : I.R.S. Agents Discuss Tax Havens

https://www.youtube.com/watch?v=qYfpS3WTkyg

Video : I.R.S. agents discuss tax havens

http://www.youroffshoremoney.com

Become The Keeper Of Your Own Future – Here’s Your Wealth Pathway

 

Thinking about taking action isn’t going to create wealth.

Reading this blog without taking action to create your International Business Corporation, using tax havens to reduce your tax burden – does not create wealth.

Government shutdowns, ridiculous breaches of privacy, massive debts…

All around, the news these days is bad. But I don’t need to remind you of that. You know as well as I the state of the world right now.

You also know you can’t rely on bungling politicians for help. What you may not realize is how to pull yourself out of this mess and take control of your own future.

How can you ensure that you and your family are ok, no matter what the rest of the world decides to do?

Become The Keeper Of Your Own Future

Not enough people realize this, but this is the key to establishing a secure financial future for you and your family.

This sounds like a simple change of mindset, but it’s not. We are all used to a lifetime of believing that the government is there to help, that no matter what happens, they’ll be there as a safety net.

In the 21st century, those days are over.

I can’t say it loudly enough: You are the one in the driver’s seat. You have the power to make the decisions that will shape your future, and that of your family.

And yes, it’s work. Managing your own destiny is harder than leaving it to others, but, when you recognize the consequences of not taking control of your own future, it’s a no-brainer. You’ve got to act. And you’ve got to act now.
This first critical step is really a personal commitment to yourself–a promise that you will take full responsibility for your own life.

I realize this can be a scary prospect. Some folks are so overwhelmed by this idea that they would rather leave things be.

In today’s world, nobody can afford to be dependent on any one economy…on any one government…or on any one currency.

The way to protect yourself is to diversify outside your home country’s borders. The reality of the world we’re living in is that this is the only effective strategy available to you…to me…to all of us.

It’s a simple insight. We all know about diversity when it comes to stocks and bonds. Yet few people realize the fundamental importance of taking this basic concept to the next level.

I’ve been in the room with educated, experienced investors, who’ve bragged of their diversified portfolios. They hold stocks, bonds, real estate…

But once I’ve probed a little deeper, I’ve often found that their portfolios all share one problem. All are “diversified” in U.S. dollars…their investments are all domiciled in the United States…and they’re all at the mercy of anyone’s lawsuit filed under the U.S. legal system, including suits after their retirement funds.

What happens to these “diversified” investors if the dollar radically declines in value?

What if an angry litigant attacks your assets with a frivolous lawsuit?

1) CONTACT Jack A. Bass and set up your corporation offshore.

2) Open a bank account offshore

3) open a trading account offshore

4) accumulate your wealth in a low tax jurisdiction.

To START –

email info@jackbassteam.com or

call Jack direct at 604-858-3202 ( no cost or obligation).

 

The Death of Bitcoin – Better Asset Protection Available

• 

Bitcoin Will Bite the Dust

Kevin Dowd and Martin Hutchinson

Bitcoin is the most radical innovation in the monetary space for a very long time. It is an entirely private monetary system that runs itself and does not depend on trust in any central authority to honor its promises. Instead, it relies on trust in the Bitcoin community or network that verifies transactions and maintains the integrity of the system. This system of distributed trust creates bitcoins and produces an automatic, tamper-proof bitcoin money supply process. 1 As such, it avoids the dangers of discretionary monetary policy—namely, quantitative easing, manipulated interest rates, and the need to rely on wise men or women to withstand political pressure or successfully forecast the future. Indeed, under Bitcoin there is no monetary policy at all. There is just an automatic monetary rule dictated by the Bitcoin protocol designed in 2009 by an anonymous programmer using the alias Satoshi Nakamoto.

Bitcoin has been widely hailed as a success and has won a substantial following. Unfortunately, the underlying economics of Bitcoin mean that it is unsustainable and in all likelihood will be remembered as a failed experiment—at best a pointer to some superior successor. A first-pass intuition into Bitcoin can be obtained from a comparison with the stone money in Milton Friedman’s (1992) case study, “The Island of Stone Money.” In this story, the people of the island of Yap in Micronesia used as money large round limestone disks transported from the nearby island of Palau. These were too heavy to conveniently move around, so they were placed in prominent places. When ownership was to be transferred (e.g., as part of a dowry, inheritance, or ransom payment), the current owner would publicly announce the change in ownership but the stone would typically remain where it was and the islanders would maintain a collective memory of the ownership history of the stones. This collective memory ensured that there was no dispute over who owned which stones. Similarly, in Bitcoin, the record of all transactions, the “blockchain,” is also public knowledge and is regarded as the definitive record of who owns which bitcoins. Both the stone money and Bitcoin share a critical feature that is highly unusual for a monetary system: both systems operate via a decentralized collective memory. On February 11, 2009, Nakamoto gave an explanation of the thinking behind Bitcoin in an e-mail announcing its launch: “The root problem with conventional currency is all the trust that is required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. . . . With e-currency based on cryptographic proof, without the need to trust a third-party middleman, money can be secure and transactions complete.” Cryptocurrencies, however, face the problem of “double-spending.” As Nakamoto notes, “Any owner could try to re-spend an already spent coin by [digitally] signing it again to another owner. The usual solution is for a trusted company with a central database to check for double-spending, but that just gets back to the trust model. . . . Bitcoin’s solution is to use a peer-to-peer network to check for double-spending.”  Consequently, “the result is a distributed system with no single point of failure.”

The fact that Bitcoin has no single point of failure is highly significant: it means that it cannot be brought down by knocking out any particular individual or organization.3 It can only be brought down by knocking out the whole network or one of the underlying building blocks on which the network depends.4 It can and does operate outside of government control: Bitcoin is a dream come true for anarchists, criminals, and proponents of private money.

Despite its success, the Bitcoin system is unsustainable due to a design flaw at the very heart of the system. The problem is that Bitcoin requires competition on the part of “bitcoin miners” who validate transactions blocks, but this competition is unsustainable in the long run because of economies of scale in the mining industry. Indeed, these economies of scale are so large that the bitcoin mining industry is a natural monopoly. Furthermore, there are signs that competition in this industry is already breaking down. Once that happens, the system will no longer be able to function as it hitherto has. Its key attractions (decentralization, absence of a single point of failure, and anonymity) will disappear; there will no longer be any reason for users to stay with it; and the system will collapse

 

How Will you Protect Your Assets ?

Going Offshore / Offshore Incorporation / Tax Havens : Frequently Asked Questions ( FAQ)

Posted on June 1, 2015by jackbassteam

Going Offshore / Offshore Incorporation / Tax Havens : Frequently Asked Questions ( FAQ) WHAT IS AN OFFSHORE CORPORATION?  A corporation is an entity recognized by law as a separate “person” with limited liability. A corporation has the option to sell shares, the right to sue and be sued, and has perpetual existence. HOW ARE OFFSHORE CORPORATIONS USED? Offshore corporations may be used to own and operate businesses, issue shares, bonds or otherwise raise capital, guarantee obligations, hire employees, buy goods and services, sell goods and services, make contracts, rent office space, maintain checking and saving accounts, and maintain retirement plans for employees. Although most offshore corporations are private and closely held, some are publicly traded on major stock exchanges. WHAT ARE ARTICLES OF INCORPORATION?  The Articles of Incorporation is the document which establishes the corporation and contains basic information such as the name, share structure, and purpose of the corporation. WHAT ARE BY-LAWS?  The By-laws, or in some jurisdictions “Articles of Association”, are rules the corporation creates for its shareholders, officers, and directors. By-laws are adopted by the Board of Directors as one of the first organizational steps in setting up a corporation. Upon instruction, we can adopt a standard set of By-laws for a new corporation. Unlike Articles of Association, By-laws are usually maintained internally but may be publicly filed if requested. WHAT DOES A CORPORATE SEARCH REVEAL?  A corporate search will reveal the name of the corporation, the date of existence, amendments, and any other publicly filed document. Under Panamanian law for example, there is no requirement that the names of corporate officers, directors or shareholders be filed in any public registry. Such information, therefore, remains confidential. WHAT ARE Shelf COMPANIES?  Shelf Companies are ready-made, never used corporations that have been created to meet a client’s immediate needs. WHAT IS A REGISTERED AGENT?  A Registered Agent is required to ensure that the corporation has an assigned representative at a known address to receive all service of process (legal notices) on its behalf. The Registered Agent forwards these documents to the address of record of the corporation. WHAT ARE BEARER SHARES? Bearer share certificates do not indicate the name of the owner. The certificate is endorsed in blank such that the person having physical possession of the document is the owner. Bearer shares facilitate the transfer of assets because transfer of ownership is accomplished simply by the transfer of the certificate. WHAT ARE REGISTERED SHARES?  Registered share certificates indicate the name of the owner on the document. The name of the shareholder is also recorded in the internal corporate records of the company. Although the registered owner is recorded in the corporation’s internal records, no public registry of shareholders is maintained. The share registry is an internal corporate document available only to directors, officers and shareholders, under conditions specified in the jurisdiction’s corporate statute. Isn’t moving assets offshore illegal? There is nothing illegal about moving assets offshore. It is when you move the assets into accounts offshore and do not declare their existence to the tax authorities that you break the law. Any assets over which you have control, domestic or offshore, are probably liable to taxes in your home jurisdiction. Why should I move offshore? Moving some of your assets offshore provides you access to modern (and ancient) methods of protecting your assets and reducing your taxes using trusts, international corporations, foundations and other legal entities. What is Asset Protection? Asset Protection is a term used to describe the concept of legally transferring your assets into a legal entity which will protect them from attack by frivolous litigation, seizing from government, attack from an estranged spouse – in fact anything which may threaten your hard earned wealth.

 

How do I start?

The best place to start is to contact us – at no cost / no fee or obligation

The Key : The Most Important Step: Take Action

• Information without action will produce nothing in the way of tax savings.
  

  Tax Haven Savings  – Contact Information

  Are you finally taking the step to tax freedom by incorporation and banking in a low tax jurisdiction? and if not why not ? You can incorporate and have bank and brokerage accounts in less than 30 days.

  Information must proceed action and that is why we offer a no cost / no obligation inquiry service.

  Email info@ jackbassteam.com

  or

  Call Jack direct at 604-858-3202 – Pacific Time 10:00 – 4;00 Monday to Friday

 

 

How To Hide Money From The Taxman : Bloomberg

Wealthy Americans – and those that want to be wealthy-  are not running out of ways to hide their money and lower their tax burden.The rest of the world is  getting less hospitable to American tax avoidance but here is a summary of four ways to outrun the tax burden.. A 2010 federal law, the Foreign Account Tax Compliance Act, requires all foreign banks to report to the IRS on their American customers. It’s working so well that Americans abroad say they need an introduction to open a bank account – even for perfectly legitimate purposes.

What’s left for the secretive and tax-averse ?

Here are four ways that all aspirants to wealth can still get secrecy and/or lower taxes.

1) Go overseas / offshore

There are legitimate reasons to have an overseas bank account. Americans who live overseas might want ready access to their money. An offshore trust may offer more protection from creditors or lawsuits than one set up in the U.S. An overseas limited liability company, or LLC, might let you hide aspects of your business from competitors. That’s “totally legal,” says lawyer Martin Press . “You can have money anywhere in the world.”

It’s not the tax dodge it used to be. Traditionally, banks in tax havens such as Switzerland haven’t reported those accounts to the IRS, making it possible to hide not just what’s in the account but its entire existence.

2) Hide inside a shell and keep your name off public records

The rich often use shell companies, like LLCs, to buy property or investments, so that the company name, not the individual, shows up on public documents. Another reason these structures are used to buy into hedge funds, private equity, and venture capital funds: Rich investors mostly want to avoid endless solicitations for other investments. “Once you get on somebody’s list, you get hit with every proposal,” says  Such, a tax attorney. While other investors won’t know your business, the IRS still will because LLCs are required to file tax returns every year- when owned more than 10 % by an American. When the LLC is owned by a trust ( see next section) the ownership – by a trust is not known because trusts are not registered – or because the public record only shown nominees not the actual owners.

3) Use a trust

Trusts can be used to keep assets hidden from nosy neighbors and to keep tax bills down, within reason. Income from property or investments held in the trust goes to the beneficiaries free of estate or gift taxes. Beneficiaries also can avoid regular income taxes—if the trust pays the taxes rather than the individual. Another advantage of trusts is the way they pass automatically to heirs after your death. Otherwise, your possessions and the details of your estate can get caught in the probate system, which is often quite public. Trusts are most often not registered – no public register means no one knows unless you tell them.

4) Hire an expert

The wealthy can still afford to hire sophisticated accountants, who spend years searching for legal ways to lower tax bills. A recent U.S. Senate report identified a few esoteric strategies that rely on derivatives or deferred compensation to lower tax bills. Most of the time, the goal isn’t to hide money but to control the timing of income and what form it arrives in. For example, taxpayers can pay lower rates if income is in the form of long-term capital gains rather than ordinary income.

Still, clients are getting cautious about aggressive tax planning, especially if it involves any overseas transactions, says Jack A. Bass, tax strategist with Jack A. Bass and Associates.Tax payers now know the IRS is watching what happens overseas, and the effect is similar to when drivers know police are out looking for speeders. “They’re not driving 95 down the Interstate,” Gannaway says. “They’re driving 75 with their foot close to the brake. However, the IRS is looking for millions in accounts and transfer payments – not a few hundred thousand or even a few million. If you don’t have a public criminal record or a google search revealing lawsuits you are not on anyone’s radar “.

 The Key : The Most Important Step: Take Action

• Information without action will produce nothing in the way of tax savings.
  

  Tax Haven Savings  – Contact Information

  Are you finally taking the step to tax freedom by incorporation and banking in a low tax jurisdiction? and if not why not ? You can incorporate and have bank and brokerage accounts in less than 30 days.

  Information must proceed action and that is why we offer a no cost / no obligation inquiry service.

  Email info@ jackbassteam.com

  or

  Call Jack direct at 604-858-3202 – Pacific Time 10:00 – 4;00 Monday to Friday

  ( same time zone as Los Angeles)

• Read more at http://w ww.youroffshoremoney.com

Ten Percent of S&P 500 Companies Avoid Paying U.S. Taxes

“What you’re seeing, is what could be called self-help tax reform.”

When it comes to taxes, corporate America is getting a bit less corporate. And a bit less American.

Fueled by a wave of inversions, a record 54 companies in the Standard & Poor’s 500 Index of leading U.S. firms are now at least partially exempt from the corporate income tax. That’s more than twice the number four years ago.

The biggest factor is the recent wave of companies, such as Medtronic Plc and Mylan NV, that have completed what’s known as an inversion, in which they move their tax address overseas. Other companies have declared themselves to be real estate investment trusts, or REITs, which the Internal Revenue Service doesn’t treat as corporations. Just this year, Equinix Inc., a California company that operates data centers, became a REIT to lower its effective tax rate to as little as 10 percent. At 35 percent, the U.S. corporate rate is The Highest in the developed world.

The Congressional Budget Office predicted in January that these techniques, by eroding the tax base, would contribute to a drop in U.S. corporate receipts, from 2.3 percent of gross domestic product in 2016 to 1.8 percent in 2025. By then, receipts will be about 5 percent, or $27 billion a year, lower than they would be without the anticipated erosion, the CBO estimates.

“As capital gets increasingly mobile, it’s harder to stop people from pursuing tax advantages around the world,” said William Gale, an economist at the Brookings Institution in Washington.

Popular Alternative

The S&P figures may understate the scale of the exodus, because the index doesn’t include another investment vehicle that’s become a popular alternative to the corporate form. Known as master limited partnerships, they, like REITS, don’t pay the corporate income tax and instead pass on tax liability to their investors. Several S&P companies have recently transferred assets to these vehicles.

“You can’t ignore the fact that the U.S. has been sitting still with its tax code for a long time,” said an economist at the Washington-based Tax Foundation, which favors a simpler system with lower rates. He said that other developed countries have reduced rates and made changes to favor domestic companies.

Many of the companies that undertook inversions or became REITS have argued that they have a duty to shareholders to legally minimize their tax bills. Some came to the decision after facing competition from rivals with more favorable tax arrangements.

New Restrictions

“Unfortunately we have a tax structure in the United States that’s putting companies in the U.S. at a disadvantage,” said the chairman of Actavis Plc, Paul Bisaro, shortly before it became Irish in 2013.

Last September, reacting to a series of high-profile inversions, the Treasury Department imposed new restrictions  meant to make it less attractive for U.S. firms to claim tax residence in a lower-tax jurisdiction. The changes killed three planned transactions, and since then the pace of announcements has slowed.

In the seven months since the rules took effect, only four new inversion plans have been unveiled, compared with eight in the seven months beforehand. Still, the new pace of about one announcement every two months is similar to that seen in 2012 and 2013. S&P 500 company Applied Materials Inc. plans to become Dutch by the end of June.

S&P Debate

Other paths to a foreign address are still open. James River Group Holdings Ltd., an insurance company with North Carolina roots, went public on the Nasdaq Stock Market in December as a Bermuda company. James River, which is not in the S&P, got the new address through its 2007 sale to a Bermuda entity set up by the New York hedge fund D.E. Shaw & Co., a type of transaction that’s not affected by anti-inversion rules.

Since the S&P 500 is supposed to be a list of the biggest American companies, the question of whether to include tax expatriates has in the past caused some debate within S&P, the division of McGraw Hill Financial Inc. that oversees the index.

Thanks to an earlier wave of inversions, by 2008 there were 13 foreign-domiciled companies in the S&P 500. After some investors complained these companies didn’t belong, S&P kicked most of them out in 2009, said David Blitzer, chairman of the S&P index committee.

S&P reversed course after talking with more investors, he said. Fund managers don’t care what a company’s legal address is, as long as it has substantial business in the U.S., is listed on a U.S. exchange, and reports financial results the way U.S. companies do, Blitzer said. Most companies that invert don’t shift their top managers, factories or sales force out of the country. It’s mostly a paperwork change.

REIT Trend

So in 2010, S&P started letting them back in. Today there are 30 companies with foreign incorporations, representing about 5 percent of the index by market value.

Real estate companies have long organized themselves as REITs because they don’t have to pay tax on income as long as most of it comes from real estate and is paid out promptly to stockholders. REITs have been allowed to join the S&P 500 since 2001.

Recently, members of industries, from prisons to billboards, have sought to reap the tax benefits of being a REIT by declaring that they’re essentially in the real-estate business. For the most part, the Internal Revenue Service has allowed them to do so.

Tax Reform

Among those S&P 500 components that have made the switch in recent years include Iron Mountain Inc., a document storage company; the Weyerhaeuser Co. timber producer, and two owners of cell-phone towers. Railroads and power lines may be among the next industries to try it, said PricewaterhouseCoopers LLP

Virtually all of the foreign and REIT companies in the S&P 500 still pay some U.S. corporate income taxes. The foreign companies still have to pay through their U.S. subsidiaries, and REITs have to pay through units that aren’t in the real-estate business. Mylan, which got a Dutch incorporation in February, expects to lower its effective tax rate this year from 25 percent to 20 percent, its chief financial officer said at a conference last month.

“What you’re seeing,” said Jack A. Bass, tax strategist “is what could be called self-help tax reform.”

Read more on reducing your taxes at http://www.youroffshoremoney.com

Using The Caymans To Avoid Taxes on Portfolio Profits

The Key : protect income from taxes, including those invested in the United States, from tax, while retaining control over and use of the funds.

The Cariibean Portfolio 

A typical way that U.S. individuals can easily evade tax on domestic income through a Cayman Islands operation with relatively little expense other than the ione time set-up fees :

The individual can open a bank account in the name of a Cayman corporation that can be set up for a minimal fee. Money can be electronically transferred without any reporting to tax authorities, and investments can be made in the United States or abroad. Investments by non-residents in interest bearing assets and most capital gains are not subject to a withholding tax in the United States.

In addition to corporations, foreign trusts can be used to accomplish the same approach. Trusts may involve a trust protector who is an intermediary between the grantor and the trustees, but whose purpose may actually be to carry out the desires of the grantor. These trusts are legal but in either case they can be used to protect income from taxes, including those invested in the United States, from tax, while retaining control over and use of the funds.

Limited Information Reporting Between Jurisdictions

In some cases the countries themselves have little or no information of value. One article, for example, discussing the possibility of an information exchange agreement with the British Virgin Islands, a country with more than 400,000 registered corporations, where laws require no identification of shareholders or directors, and require no financial records, noted: “Even if the BVI signs an information exchange agreement, it is not clear what information could be exchanged.”

Alternative Policy Options to Address Corporate Profit Shifting Because much of the corporate tax revenue loss arises from activities that either are legal or appear to be so, it is difficult to address these issues other than with changes in the tax law. Outcomes would likely be better if there is international cooperation. Currently, the possibilities for international cooperation appear to play a bigger role in options for dealing with individual evasion than with corporate avoidance. Several of the issues addressed below, such as hybrid entities and instruments, transfer pricing for intangibles, and debt also have been considered in the OECD action plan on base erosion and profit shifting.

Read more  at our March 22 article on The Tax Haven Guru ( wordpress) https://taxhavenguru.wordpress.com/   AND

 

Read more at http://www.youroffshoremoney.com

Application :

Do you have a tax reduction strategy ?

The most important thing that you MUST do is seek advice from a qualified advisor – Jack A. Bass, B.A. LL.B. (someone who understands international tax jurisdictions and tax law) . Your advisor must understand the benefits of particular offshore jurisdictions. It is your responsibility to take action.

In most jurisdictions you can set up your offshore company in as little as a few weeks. We most often start the process with registering a company name and sending in the right documentation and supporting documents for the incorporation and a bank account(s) or merchant account for you and your business.All of this can be conducted by internet on in rare cases we will attend in person – for you.

Contact Information:

To learn more about asset protection, trusts ,offshore company formation and structure for your business interests (at no cost or obligation)

Email info@jackbassteam.com  OR

Telephone  Jack direct at 604-858-3202

Monday – Friday 10:00- 4:00 Pacific Time Zone ( same as Los Angeles)

Do You Have A Plan – or are you just planning to think about a plan ?

 

Year End Tax Advice On Investment Gains/ Losses / Income

Sell Your Losers

.

Thinkstock

Not all stocks and mutual funds fared well this year, despite a 13.2% rise for the S&P 500 through December 1. If you own investments in a taxable account, such as a brokerage account, that are worth less than you paid for them, consider cutting them loose before year-end. You can use the losses to offset capital-gains income.

If your losses exceed your gains, you can deduct up to $3,000 from your other taxable income. Losses that exceed that amount can be carried forward to future years.

Delay the Sale of Investment Winners

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If you’re about to rebalance your portfolio by selling some winners so you can redeploy the cash elsewhere, remember that waiting until after January 1 means you won’t have to report the gains as part of your 2014 income. Never make an investment move based solely on the tax impact, but don’t ignore it, either.

 

Defer Income Until 2015

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If you think a year-end bonus is in the works, ask that it be paid next year. That way, it won’t increase your 2014 taxable income. (If the firm has already announced that it will pay bonuses in December, though, it’s 2014 income even if you don’t cash the check until January.)

If you’re self-employed, send bills to clients in late December so you won’t receive payments until after the first of the year.

Alternate Guaranteed Income Payments

Private client funds Minimum $10,000 Maximum Loan $500,000

Our client is seeking funds to expand their tanker fleet .

Interest 12 % compounded – paid 1% per month

Floating charge of the full $500,000 against the fleet – valued at  more than $ 1 M

– see contact information set out below.

 

Investors will not wait for the government to sort things out and then lurch to the next crisis.What are you doing ?

Who Is Designing Your Offshore Strategy ?( do you have a strategy?)

The most important thing that you MUST do is seek advice from a qualified advisor – Jack A. Bass, B.A. LL.B. (someone who understands international tax jurisdictions and tax law) . Your advisor must understand the benefits of particular offshore jurisdictions. It is your responsibility to take action.

In most jurisdictions you can set up your offshore company in as little as a few weeks. We most often start the process with registering a company name and sending in the right documentation and supporting documents for the incorporation and a bank account(s) or merchant account for you and your business.All of this can be conducted by internet on in rare cases we will attend in person – for you.

      You can start today – for a confidential / no fee/ no obligation  initial inquiry 

Email

jackabass@gmail.com OR

 info@jackbassteam.com

 OR call Jack direct at 604-858-3202  

http://www.youroffshoremoney.com

30 Major Corporations Paid No Income Taxes In The Last Three Years – What Is Your Tax Strategy ?

The Lesson For You : Will You Complain or Profit ?

A new report from Citizens for Tax Justice :

CTJ looked at 280 companies, all of them members of the Fortune 500, and found that “while the federal corporate tax code ostensibly requires big corporations to pay a 35 percent corporate income tax rate, on average, the 280 corporations in our study paid only about half that amount.” And those who paid even half the statutory corporate tax rate paid far more than many of their competitors.
In fact, in the last three years, 78 corporations had at least one year where they paid no federal income tax at all, while 30 corporations paid not a dime over the entire three years. Those 30 corporations paid nothing, even though they made $160 billion in profits over that period:
– Seventy-eight of the 280 companies paid zero or less in federal income taxes in at least one year from 2008 to 2010…In the years they paid no income tax, these companies earned $156 billion in pretax U.S. profits. But instead of paying $55 billion in income taxes as the 35 percent corporate tax rate seems to require, these companies generated so many excess tax breaks that they reported negative taxes (often receiving outright tax rebate checks from the U.S. Treasury), totaling $21.8 billion. These companies’ “negative tax rates” mean that they made more after taxes than before taxes in those no-tax years.
– Thirty corporations paid less than nothing in aggregate federal income taxes over the entire 2008-10 period. These companies, whose pretax U.S. profits totaled $160 billion over the three years, included: Pepco Holdings (–57.6% tax rate), General Electric (–45.3%), DuPont (–3.4%), Verizon (–2.9%), Boeing (–1.8%), Wells Fargo (–1.4%) and Honeywell (–0.7%).

As CTJ’s report put it,

Today most Americans can complain, ‘I pay more federal income taxes than General Electric, Boeing, DuPont, Wells Fargo, Verizon, etc., etc., all put together.’

Don’t Complain : Cut your Taxes

Reading – but not taking action ? Don’t fool yourself.

We’ve Done All the Research

We’ve done all the research and conveniently gathered all U.S. and International regulations pertaining to Tax Havens, Tax Planning,Offhore Banking , Information Technology, Physical Security, Records Management, Privacy, and Third Party Invoicing into one place

An overview of our assistance with your goals:

There are dozens of jurisdictions, such as Hong Kong, Singapore and the British Virgin Islands that offer a great business environment with fully legal tax benefits.We have to match your goals to the right jurisdictions.

The Magic Bullet Step Number 1

The most important thing that you MUST do is seek advice from a qualified advisor – Jack A. Bass, B.A. LL.B. (someone who understands international tax jurisdictions and tax law) . Your advisor must understand the benefits of particular offshore jurisdictions. It is your responsibility to take action.

In most jurisdictions you can set up your offshore company in as little as a few weeks. We most often start the process with registering a company name and sending in the right documentation and supporting documents for the incorporation and a bank account(s) or merchant account for you and your business.All of this can be conducted by internet on in rare cases we will attend in person – for you.

Contact Information:

To learn more about offshore company formation and structure your business interests overseas (at no cost or obligation)

Email info@jackbassteam.com or

call Jack direct at 604-858-3202

10:00 – 5:00 Monday to Friday ( same time zone as Los Angeles).

A business based overseas, coupled with an offshore bank account, is the perfect medium to build your wealth in a low tax jurisdiction.

YOU CAN DO THIS and Jack A. Bass can help !

However, the truth is developing a tax strategy is not the same as walking into the mall and opening a checking account in fifteen minutes.

Tax Haven Savings – Contact Information

Are you finally taking the step to tax freedom by incorporation and banking in a low tax jurisdiction? and if not why not ?

Information must proceed action and that is why we offer a no cost / no obligation enquiry service.

Do something to help yourself – contact Jack A. Bass now !

We will discuss your goals and tailor the solution to meet your requirements.

Will Delaware Give Up Its Status as the #1 Corporate Tax Haven? Still #1 For Trusts .

 reblogged from Tax Haven Guru and commented:

Generally we avoid U.S. as the site for the initial incorporation of any client seeking a ” dutch sandwich ” low tax solution for IP or software or manufacturing tax reduction. It makes no sense to ” red flag ” your companies with an American address regardless of how exact our subsequent dividend routing is to comply with U.S. laws.We do favor Delaware for Trusts 

Delaware – A domestic ‘offshore’ haven

The state of Delaware has long been the corporate friendly haven for both U.S. and world business. It’s now fast becoming a center for the creation of asset protection trusts for Americans and for foreigners For several decades, U.S. corporations have set up operations in Delaware in order to take advantage of the state’s tax code, friendly business climate and sophisticated legal environment. Increasingly, families who are looking to protect their fortunes from onerous tax burdens and complicated trust law are following corporate America’s lead. The best news about Deleware is that non-Dupont families don’t have to move there in order to set up a trust. As long as the trustee has a base in Delaware, families can enjoy the financial benefits of the state from anywhere in the US and, in some circumstances, the world. “Delaware has enacted legislation to attract wealthy rich people and private-wealth banks to set up shop in the state,” says Jack a. Bass , wealth advisor for clients around the globe. The tax-free status in Delaware make it something of a duty-free zone between New York and Washington. But Mr Bass said the state holds many other attractions for family trusts. Hear are some examples. A Generation Skipping Trust (GST): This is also called a dynasty trust. This trust allows individuals, while they are alive, to pass part of their estate down to future generations while minimising the tax. In the majority of states, the trusts have a terminus point at which future generations will be taxed. They typically extend 21 years beyond the death of the last trust beneficiary alive when the trust was created. If the youngest beneficiary is 21 and lives to 90, the trust will run 90 years. It’s a great tool for wealthy families but the massive tax bill down the road is a punishment. A Delaware Dynasty Trust overcomes this issue because the state allows perpetual trusts without an end date. The trusts face no future estate, gift or generation-skipping taxes as long as the assets stay in trust. A JPMorgan report estimated that a $2 million investment in a standard dynaty trust, which is the most a married couple can give and still be exempt from gift tax, would yield $98 million after 90 years. A perpetual Delaware Dynasty trust would yield $266 million, based on projected investment returns. A Foreign Trust: Foreign trusts are useful tools for citizens of the world who reside outside the U.S. but want to pass on more of their estate to beneficiaries who are either residents or citizens of the U.S. A foreign trust is exempt from gift-estate and GST taxes and can be set up so that, while alive, the individual pays no taxes on it. It is a useful tool made even better with a Delaware-sited foreign trust. First, it can be a perpetual trust, as with a dynasty trust. Second, Delaware law prevents creditors from taking possession of the assets in the trust, similar to an offshore haven. Third, many countries have adopted anti-tax deferral legislation, and have drawn up “black lists” of countries that are tax havens. Trusts in a tax haven country may be taxable under these rules. But, Delaware foreign trusts are likely to avert anti-tax deferral legislation because the U.S. is unlikely to turn up on such black lists. Delaware Statutory Trust: Delaware statutory trusts are great tools for individuals who wish to set up a tax-advantaged trust with diverse objectives because they can be designed for multiple participants with different needs. For example, if an individual wanted to use a portion of the trust to provide income for himself, his portion of the trust can have an asset allocation heavy on cash and fixed-income instruments. His grandchildren’s portion of the trust can be directed towards stocks since they will not need the income for many years. As usual, Delaware statutory trusts enjoy all the benefits of the state’s tax laws. Total Return Trusts: A challenge with wealth management is that income-producing assets have become less fecund, with average dividend yields falling and fixed-income near low yield levels. In 2001, Delaware adopted a statute allowing for total return trusts. These trusts permit a trustee to convert a mandatory pay-out trust to deliver a combination of income and principal. So, if the trust with $50 million has a yield of only 1.5 per cent, the trust can be structured to pay out 4 per cent a year by taking a portion of the principal. Therefore, the beneficiary receives $2 million a year annually instead of $800,000. If you would like more information regarding asset protection, trusts, family limited partnerships or the subject of this article please call or email our office. Do something to help yourself             – contact Jack A. Bass now ! to engage us as your agent please use the following : Email info@ jackbassteam.com or Call Jack direct at 604-858-3202 – Pacific Time 10:00 – 5;00 Monday to Friday We will then discuss your goals and tailor the solution to meet your requirements.

IF it is more convenient to send your inquiry by mail:

J.A. Bass and Associates

18 Fisher Road

Harrow, Middlesex

England,HA3 7JP