The war on offshore rages on
Last week the US House of Representatives passed a bill that contained the “Foreign Account Tax Compliance Act”. This act was passed without a hearing or without any chance for opposition to be heard. You can view the entire bill here. Below are the highlights of the bill: Impose a 30% withholding tax on payments […]
US Senate sends budget increase to the White House
According to this article that appeared today in the Yahoo Finance pages, the Senate has approved a $1.1T spending bill that includes big increases in many government programs including health, education, law enforcement, and veterans’ programs. Apparently our policymakers don’t understand basic economics. What would happen in your business or household if you continued to spend […]
Is the IRS targeting you for an audit?
According to this recent article in Forbes, the IRS has created a new enforcement unit to target high net worth individuals with complex holdings. This group is called Global High Wealth Industry Group or GHWIG. This is a direct attack at those with incomes over $100,000 per year. The GHWIG has broken the income groups […]
Huge surge in Government salaries
At a time when private sector unemployment has topped 10%, the number of highly paid government workers has soared between 14%-19% according to a recent article in the USA Today. There has been a 46% increase in the number of workers earning over $100,000 from December 2007 until June 2009. The increase for workers earning […]
The house votes to restore estate tax
The estate tax is one of the most unfair and possibly unconstitutional taxes in the US tax code. The constitution requires equal treatment of all citizens and the estate tax violates this in every regard. Consider a wealthy entrepreneur who works his entire life, pays income tax, property tax, sales tax, and a myriad of […]
The government is trying to destroy the stock market
Apparently the government is trying to destroy the stock market. There is a new proposal to tax .25% of all stock, bond and option trades. The thought process here is to let Wall Street pay for Wall Streets mess. But that will only fool the uninformed. The ones that will suffer and you and I. […]
Do you think your safe deposit box is safe?
Do you think your valuables are safe in a US bank’s safety deposit box? Think again. The state of CA, and others, has been aggressively seizing the contents of safety deposit boxes and keeping the funds for the state’s general fund. The state of DE lists unclaimed property as its 3rd largest source of revenue. […]
December 10 newsletter
I just published the December 10 newsletter. Good information on how to set up an offshore investment account. Sign up for the newsletter today.
Debt heads US toward ‘destruction’
With the ridiculous amount of government spending and huge increase of debt, the US has no choice but to increase taxes and devalue the dollar. If there was ever a time to diversify your wealth and create an offshore asset protection plan, it is now. Creating an offshore asset protection strategy can give you […]
