Offshore asset protection - Global Wealth Protection

Trump: Giving Credit and Blame Where Due

Whether you agree or disagree with Trump, it’s important to keep the record straight and give credit and blame where due. February 19, 2018 By: Bobby Casey Managing Director GWP There are die hard Trump supporters and equally staunch Trump detractors, but both sides are blinded by their deep seated sentiments and are giving him credit or blaming him for things he hasn’t done. It’s amazing how many political hacks have no concept of a timeline; as if each president gets to start over rather than inherit the conditions laid out by their … [Read More...]

Bipartisan Congressional Budget Deal is an Act of Political Cowardice

What headlines call bipartisan compromise, is really just political cowardice. February 12, 2018 By: Bobby Casey, Managing Director GWP I’m looking at this two year budget deal Trump just signed, and what is being hailed as some heroic and collaborative compromise is really just plain cowardice. As many of you know, I’m an expat living in Eastern Europe. I go back to the US from time to time to visit, and there are absolutely things I miss. A few folks… a few places… a few establishments. But US politics is precisely why I stay … [Read More...]

What’s In the Reauthorization of Section 702 of the FISA?

What Trump calls an improvement is really just Section 702 of the FISA being reauthorized with a few tweaks to transparency and accountability. February 5, 2018 By: Bobby Casey, Managing Director GWP Section 702 of the FISA was signed into law by Donald Trump on January 19, 2018. There’s really no point in talking about what could’ve or should’ve been. What matters most is what IS for the next six years. The reauthorization flew through the Senate with nearly two-thirds voting in the affirmative. There was a near miss on a filibuster … [Read More...]

US Slipping in Innovation, Education, and Economic Freedom

The US is slipping in more ways than one: innovation, education, and economic freedom. January 29, 2018 By: Bobby Casey, Managing Director GWP The US has been steadily slipping in key areas that made it a once great place: innovation, education, and economic freedom. When I see the slogan “MAGA” I basically associate it with a Republican version of “Hope and Change”. It’s whatever you want it to be. It’s nothing and everything all at once. There’s some talk about the economy and jobs, and while those things are indicators, they don’t … [Read More...]

It’s 2018: Have Your Personal Tax Strategies Evolved?

Many long-standing deductions and exemptions will be no more, which might require all new tax strategies. January 26, 2018 By: Diane Kennedy, CPA USTaxAid.com I normally write about tax strategies for business owners and real estate investors. There’s been plenty to write about with the 2018 Tax Cuts and Job Act. Today and tomorrow, though, I want to talk about the new strategies for your personal tax return. #1. Plan for exemptions. Or rather, starting in 2018, there is no need to plan because exemptions are practically gone. … [Read More...]

The “Real” Truth About U.S. Savings Accounts

U.S. savings accounts are running at negative interest rates, so in an effort to save money, you could be losing value and spending power. January 24, 2018 From a young age, you were taught by your parents to save money. In the U.S. the first place you went to do that was your local bank. There you would open a savings account. Back when you were young that might have been a good idea. But times have certainly changed. Once you discover the “Real” truth about your U.S. savings account, you might start to think you’re being scammed by … [Read More...]

Is Your E-Commerce Business Ready for the Sales Tax Changes?

E-commerce businesses faces sales tax changes due to Marketplace Fairness Act. January 23, 2018 By: Diane Kennedy, CPA USTaxAid.com In 2018, the State of Washington’s new marketplace rules take effect. Marketplace facilitators (like Amazon) will be required to collect sales tax on behalf of marketplace sellers that have not otherwise established a physical presence of nexus within the state. Colorado has a similar rule and it’s expected that other states will soon be following suit. The states seem to be acting independently. You need … [Read More...]

Possible Tax Hikes Due to Lack of Fiscal Priorities

The deceptive excuse for tax hikes is blamed on lack of funds, when in fact, it’s lack of fiscal priorities. January 22, 2018 By: Bobby Casey, GWP Managing Director Tax hikes appeal to people who think that if more funding were available, the problems would be solved. The truth is, money doesn’t solve things. Solutions solve things. It’s a rather pedestrian observation, but there is a difference. For as much as capitalists get a bum rap for being money mongers who buy their way through life, that’s not really the case. Throwing money at … [Read More...]

Do You Need a Strategy for Casualty and Theft Losses in 2017?

The scope of eligible casualty and theft loss tax deductions will narrow dramatically starting in 2018. January 19, 2018 By: Dianne Kennedy, CPA USTaxAid.com In 2018, we lose the ability to write off most casualty and theft losses. The only casualty losses that will remain a write-off are ones that occur in a federally designated disaster zone. My mother had a trusted caregiver steal her car, almost $100,000 in cash, tens of thousands of dollars in silver and antiques and illegally use her identity to the tune of $42,000. (I’m still … [Read More...]

Big Changes for Bonus Depreciation

Bonus depreciation is changing in a big way, so it might be time to figure out how you take advantage of the new laws. January 17, 2018 By: Diane Kennedy, CPA USTaxAid.com The 2018 Tax Cuts and Job Act has three important differences regarding bonus depreciation: 1. The bonus depreciation will temporarily be 100%! 2. In order to take bonus depreciation, the personal property item does NOT have to be new. That’s a huge change. 3. The 100% bonus depreciation is retroactive to purchases after September 27, 2017. And now, let’s … [Read More...]

Brace Yourselves: Pentagon to Undergo FIRST EVER Audit in 2018

Pentagon is one of the last federal agencies to undergo an audit, and 2018 is the first year it will do so. January 15, 2018 By: Bobby Casey, Managing Director GWP Reading some of the headlines, you’d think the upcoming audit of the Pentagon was some remarkable political feat. It’s not. It was certainly a campaign promise from both Hillary and Trump, but the fact is, they are long overdue and nearly every president since Clinton has ineffectively been trying to get that ship to right its course. About twenty years ago, every federal … [Read More...]

C Corporation Changes in the New Tax Plan

Major changes are afoot in the new tax plan for C Corporations, but it's important to think ahead before making any hasty decisions. January 12, 2018 By: Diane Kennedy, CPA USTaxAid.com By now, you’ve probably heard that the 2018 Tax Cuts and Jobs Act is rolling back the maximum C corporation rate to 21%. That, in and of itself, is pretty remarkable. But there was more in the new tax plan for C Corporations that may have you thinking about owning a C Corporation. C Corps have to use the accrual basis unless they qualify for cash … [Read More...]

Strategies for Your Mortgage Interest Deduction in 2018

The new tax plan has good news for vacation homes, but bad news for HELOCs when it comes to deductions on your mortgage(s) in 2018. January 10, 2018 By: Diane Kennedy, CPA USTaxAid.com A last minute change in the new tax plan caught me off guard. Let me clear that up first. It’s not “primary residence interest” that is solely deductible now. It’s “qualified residence interest.” That one word difference (primary changed to qualified) means that vacation homes are back to deductible! You still have the same limitations, though. Read … [Read More...]

87% of U.S. Citizens Agree – Lawsuits Really Are For This…

Offshore accounts are a great tool to protect your assets from frivolous lawsuits. January 9, 2018 If you’ve been injured, or are a victim of some type of legal harm… in the U.S. you are allowed to file a lawsuit against the offending parties. Of course this legal protection isn’t a bad thing, until it’s abused by people looking for a payday. And in the U.S., there is a chilling reality about the judicial system that might change how you think about getting sued forever. From the Sixwise newsletter, we get this little … [Read More...]

Careful What You Wish For: Government “Legitimizes” Cryptocurrencies

With all the clamoring for Bitcoin and other cryptocurrencies to be recognized as legitimate, has anyone considered what it means to mainstream them? January 8, 2018 By: Bobby Casey, GWP Managing Director Advocates of Bitcoin and other cryptocurrencies have been quite vocal over the years about recognizing cryptocurrencies as a legitimate currency, as opposed to a fad or commodity. But what has historically happened when people do this? What has been the general government response? One glaring example is the state level legalization … [Read More...]