QUESTION: With the changes made in recent tax legislation regarding S corps, can a foreign grantor trust with a U.S. grantor be a shareholder in an S Corp? ...
QUESTION: --Re the "all accounts held by the taxpayer...". Do you mean all accounts, or all foreign accounts?- REPLY: I should have said all FOREIGN...
QUESTION: How do wealthy people set up offshore accounts which avoids taxes in the U.S.? They have accounts that permit them to write checks, add to the...
QUESTION: You mentioned that variable annuities are taxed at the ordinary income rates and not at a long term Capital Gains rate. I was under the impression...
For more than 20 years I've been arguing with various people about the so-called Social Security Trust Fund and the eventual problem of paying back the...
We would like to remind you of this upcoming event. Feb. 28th Due Date for Information Returns Date: Monday, February 28, 2005 Time: All Day Feb. 28th is the...
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QUESTION: An offshore trust must be reported to the U.S. gov't along with the beneficiaries. Isn't a Panama foundation better, no reporting requirements. Also...
Because of my extensive exposure on the Internet, I've been receiving a number of inquiries about helping people with their tax returns. For those who are...
QUESTION: I own a minority interest in the common stock of a Canadian corporation. Am I required to file any special tax forms? REPLY: Maybe. If a US person...
We would like to remind you of this upcoming event. March 15th Due Dates for Forms Date: Tuesday, March 15, 2005 Time: All Day March 15th is the due date for...
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QUESTION: What kind of expert advice can I seek for asset protection. You seem to give a lot of negative reviews but as I look at some of your suggested links,...
Yesterday someone asked me why I focus on bad news and today I got an inquiry that provides an answer to that question. This individual sent me an email...
With few exceptions, one of the goals of a sound asset protection plan is to avoid having to apply for bankruptcy protection. However, there are some...
A few days ago, I received an inquiry from a person who is seeking an asset protection advisor to help him set up an offshore asset protection structure with...
If you want to file a joint return with a spouse who is unable to sign due to injury or illness, the IRS offers an interesting "catch 22" solution. They...
QUESTION: I have a Nevis LLC that I had formed in January of 2004 to use for investments in international hedge funds. I am trying to figure out how to...
Richard Duke, co-author with me of the Offshore Tax Manual and a number of tax reports, sent me an email stating that a person with a foreign LLC may have to...
Vern: Regarding your reply to the person who asked about the filing requirements for a foreign LLC that was invested in hedge funds, it seems that the Form...
We would like to remind you of this upcoming event. April 15th Tax Returns Date: Friday, April 15, 2005 Time: All Day April 15th is the due date for individual...
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We would like to remind you of this upcoming event. April 15th - 1st Estimated Tax Due Date Date: Friday, April 15, 2005 Time: All Day April 15th is the first...
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QUESTION: Vern, our CPA firm has had two clients in the last couple of weeks who have received IRS notices about the filing of Form 3520-A for 2003. Each...
Yesterday, a CPA sent me a question about how the IRS is responding to filing Form 3520-A (for foreign trusts) when the taxpayer requested a second extension...
QUESTION: I have two questions regarding a law that prohibits expatriates from returning to the U.S. 1) Is it true anyone since 1996 who the US government...
QUESTION: I've been offered a job where my salary will be $200,000 a year. I'm a single taxpayer and live in California. Is there anything I can do to...
The following comment about my Q&A regarding expatriation is from Richard LeVine, JD, LLM who is one of the advisors to Offshore Press. Vern It is true as a...
QUESTION: In order to purchase a variety of Canadian Securities, I was informed that I needed to do so via a Canadian Corporation. I'm a US citizen and reside...
How to Quickly Identify a Stroke Victim The following information was forwarded to my wife by a friend in Florida. I checked the Urban Legends web site to see...
QUESTION: Are there any offshore investment instruments (stocks, bonds, etc.) whose earnings (dividends, interest, etc.) are not subject to a withholding tax...
The following comment was sent to me by a reader in response to my comments about withholding taxes and Bermuda. Vern Hi - regarding Bermuda you are correct...
