QUESTION: Will adding my father as a 2% owner to my Nevis LLC impose an onerous tax filing burden on him? Thanks. REPLY: You did not say if your Nevis LLC is...
QUESTION: I have the following questions: 1. Generally, does or does not the US tax non-resident aliens on currency trade profits generated from a US...
QUESTION: I gather from your books that you regard a foreign trust as the most effective form of asset protection. But it seems to me that a foreign limited...
QUESTION: I am a U.S. citizen that has lived permanently in Finland for altogether about 16 years and successively the past 11. I recently formed a consulting...
QUESTION: I am a 100% owner of a CFC (a Singapore corporation) that is an ongoing commercial entity. Some of the income generated by the business activities is...
QUESTION: If a U.S. expatriate is a grantor of a foreign trust, and the trust has assets, presumably contributed by the grantor, the grantor would no longer...
QUESTION: You mentioned you were working on an article or book regarding the new expat tax rules. I have a long-time U.S. client who presented me with an...
QUESTION: After reading your article titled Offshore Criminal Amnesty 2009, I filed four years of federal form 5471 with Mr. Judge at the Offshore Unit in...
Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal Sept. 15th - Form 1120 Due Date Tuesday September 15, 2009 All Day ...
JacobsReport@yahoogro...
Sep 1, 2009 5:04 am
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M.K. Ramadoss, CPA reminded me that the domestic partnership return (Form 1065) is now due no later than September 15th. This change was made so that...
QUESTION: If an offshore variable annuity is owned by a Nevis LLC that is 2% owned by my mother, 2% owned by my father, and 96% owned by me, will its earnings...
QUESTION: In 2008, my client, a US LLC formed a United Kingdom Holding Company (ABC Holding) to acquire all the shares of a UK manufacturing company (XYZ Ltd)....
"All that is necessary for the triumph of evil is that good men do nothing."" (Attributed to Edmund Burke) Although my Conservative/Libertarian bias must be...
QUESTION: Reportable Transactions Can you refer me to any authoritative source of information about reportable transactions, listed transactions and...
QUESTION: Is it possible to be free of the IRS without fully expatriating? I mean, I understand the 16th Amendment has never been fully and properly ratified,...
For those who are considering the IRS Offshore Voluntary Compliance Initiative for disclosing previously unreported income from foreign sources, the deadline...
Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal Oct. 15th Tax Return Due Date Thursday October 15, 2009 All Day (This...
JacobsReport@yahoogro...
Oct 1, 2009 5:04 am
734
Richard Duke and I have completed the first edition of a new tax guide for the U.S. grantors and beneficiaries of a foreign trust. If you are a U.S. citizen or...
QUESTION: When we met a few years ago, you mentioned that there were still some advantages of Offshore Trusts for those of us living overseas. Kindly send...
QUESTION: I realize you must be awfully busy until the 15th of October. But I respectfully ask you to help me with this. There is no other way since the IRS...
The following is a response by a CPA to the question regarding Schedule C and Schedule H on the Form 8858 for disregarded entities. Vern - - - - - - - - - - - ...
Because of the upcoming October 15 deadline for individual returns on a six month extension and the extension of the IRS offshore amnesty program until 10/15,...
After a number of months of being tied down with imminent tax deadlines, I can breath a short sigh of relief and enjoy a few months to work on books and...
Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal Form 720 Premium Excise Tax Saturday October 31, 2009 8:00 am - 4:00 pm...
JacobsReport@yahoogro...
Oct 17, 2009 12:59 pm
741
QUESTION: I have been preparing expatriate tax returns for over 20 years. I've prepared many Form 5471's over the years. Most of my clients with foreign...
In the last message, I said that a free e-book on the tax rules for offshore investing was available at http://www.offshorepress.com/offshoretax/ However, I...
QUESTION: How do you collect lottery powerball winnings in order to maintain your anonymity? Do you setup a living trust or LLC? Will this reduce potential...
Do you remember the hey-day of the tax shelters? It occurred from about 1970 through 1986 after which most of the individual tax shelters were curtailed by the...
QUESTION: "I am closing my offshore asset protection trust. This year 2009, I will take all assets as a benfits leaving zero in the trust. Which forms to file...
I've always been somewhat amused by taxpayers who wait until it is time to prepare their tax return to ask about what they can do to reduce their taxes. And I...
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