You sure know your stuff. Any hidden funds there?
Google for those companies that offer company formation services in tax havens. All or most of them will mention SD. Itās something Iāve considered for years, but Iāve never been wealthy enough to justify the expense and aggravation to do it. Maybe when Iām president of Venezuela.
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I think the minimum buy in is like 90K. For Delaware.
Nice, now Americans will never get rid of FACTA and FBAR reporting after this came out. The IRS needs to leave us alone.
Especially those hiding money in places like South Dakota- theyāre oppressed by the evil IRS, I tell ya.
Are you aware of what Iām mentioning? They arenāt for Americans living in the US. Us expats have been trying to lobby the IRS to stop with the intrusive reporting required that makes even opening a bank account impossible. Foreign banks have been closing accounts and refusing to open an account if you are a US persons. Itās almost impossible to even open a investment or retirement account abroad as well making our lives hell.
I donāt know what their details are. But the US is 1 of 2 countries that tax their citizens abroad and donāt have a concept of tax resident. Its one of the biggest reasons for renouncing citizenship.
The IRS has no business going into my foreign assets that has nothing to do with the US. But this report will just keep the current admin from touching this subject and probably look to make it even harder for us.
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Only the US and Canada tax their people working abroad? I thought it would be way more than that!
Canada does not.
It depends on you residence status, if you keep your address in your home country for some reason, yes other countries tax you too, but they might have an agreement with Taiwan on how to pay taxes.
Canada stopped? Resident status citizens pay tax on all income, even if they are abroad.
Canada recognizes tax residency, basically the same as every other country. The US does not. This is a completely different issue, I think you may be confused. Canada only taxes you if youāre a tax resident of Canada.
Accidental American, meaning kids born in the US but never spend any time in the US with any affiliations since are still US persons in the eyes of the IRS for example. It does not matter where your residence is to them or even if have nothing to do with the US besides being born there. Itās pretty common for accidental Americans to not being able to open bank accounts, have accounts closed on them, and not being able to open investment accounts.
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Canada is known to be tricky when repatriating foreign assets though. But Canada does not tax Canadians if they established tax residency in another country and not in Canada. Iām guessing it depends on how long youāre in Canada in a calendar year like most countries.
The US does it care. You can never set foot in the US since the day youāre born and still might end up having to pay taxes to the US and your local tax jurisdiction.
The main issue for me personally, I have to report to the IRS that own more than 10% of a company and any bank accounts with more than 10k USD. I also have to file US taxes on foreign income. There are extremely punitive taxes for investing in many foreign assets from the US side and most foreign retirement plan and pensions are taxed unfavorably in the US side.
Itās also very restrictive on investments I can have and itās difficult to open any kind of bank or investment accounts since the IRS will penalize and fine banks and brokerages if they dont comply with the US regulations. No one wants to deal with us abroad.
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My bad- spouted off without reading the whole thing. Yeah, totally agree the US should get in line with other countries (not to mention common sense and justice) on this.
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Ok, ya i see your point now. Sorry, somehow i only registered your first point of 2 countries taxing their citizens world wide. Which isnt true as many do tax their citizens base on worldwide income, including canada. But i didnt even notice your second point of residency, which is a very important aspect which explained the first point haha. apologies.
I do think it is quite fair to tax people globally if they are legally entitled to full services and advantages of their home country. Such as health care, loans, wellfare etc. I think its not ok when getting into territory that are of less cost to the people and related to human rights. Such as voting and education. Regardless, as you write above i do agree with that opinion.
Edit. I suppose this may be the main issue that the āABC (should be Tā¦)ā group, and anyone who was born there to gain citizenship, are sometimes a bit pisse d off. Are taiwanese that were birthed there and moved back here still in the situation you describe? as far as needing to be to vert careful about taiwan assets and business dealings? Im a bit ignorant on this with US citizenship, but have a few friends that are right pissed at their parents for popping them out on US soil to gain a passport. Likely this is the main reason for negative feelings towards their parents efforts?
Itās not so much the tax that is annoying. Its that the US makes all the other foreign institutions comply with them if they take on US clients and they face heavy penalties if they donāt. So foreign institutions end up not wanting to bother.
For example, itās almost impossible to open an investment account unless you have a quarter million and above because itās just not worth the hassle of dealing with Americans unless thereās a lot of money to be made if they have to do all the compliance stuff.
On the face of hat, it can seem bad. Maybe even similar to modern day china. I agree, not a fan. but its not so dire economy wwide. We export products to the usa without a hitch for decades. Its the easiest country for us to deal with to be honest. Sinply because they have rules that are more or less easily accessible and understood and follow law (unlike here). Financial institutions and that i would say deserve extra layers of rules, although it does seem clear they have rigged the game like any other powerhouse throughout historyā¦forthat, 100% agree they need to up their more than obvious gangster tactics.
Simple people are impressed by big numbers.
Big people are impressed by meanigful investigations.
Still awaiting gains insights 
hope we can figure some shit out soon.
I have about 5tb of storage in f*cking bug, reptile and plant pictures just from my basic camera and phone. Those numbers are just retardedā¦
Now Watergate does not bother me, Does your conscience bother you?
Is your conscience related to watergate? Ideally people should live a life that they dont feel guilty aboutā¦so no, ones conscience shouldnt bother anyone unless they are mentally ill and causing problems. if it does (without serious psychological issues) its due to conscious decisions they regret. Aim to stop making such decisions life is pretty peaceful if we remain respectful and try and improve.