Stop Funding Big Government
We are firmly of the view that taxation is theft. Everyone should make every effort to avoid taxes legally. There are, of course, numerous tax shelters and schemes that can help you pay less tax. Here we are looking at some very simple strategies that will help you to avoid taxes legally. Sometimes simplest is best. These strategies are used by some of the richest people in the world to make sure they pay very little in taxes.
Accumulate Wealth and Borrow Against Assets
This is the preferred strategy of billionaires. Particularly billionaires who run large public companies. Think Warren Buffet and Jeff Bezos. They tend to take very small or no salaries from their companies. Instead they are rewarded with shares and share options. In that way they are accumulating wealth tax free. They are not taxed on the value of their assets. They are only taxed when they sell the shares. When they need cash they simply arrange a loan against their assets. They can have as much cash as they need and never pay tax on it.
Anyone can adopt a version of the same strategy if they are in control of their income. Accumulate assets and borrow against those assets. Do this and you’ll avoid taxes legally forever.
Move to a Tax Haven Country
This can be the simplest strategy of all. Provided your country doesn’t tax based on citizenship, simply pack up and move. There are dozens of countries that are tax havens. You can live there without ever receiving a tax demand or filing a return. Even more countries don’t tax income that is generated overseas. Nowadays it’s easier than ever to run businesses remotely.
Many Europeans move to tax havens like Monaco or Dubai where they can live an amazing Mediterranean lifestyle while paying nothing in taxes. This strategy will also protect your family from inheritance taxes.
Spend Less than 6 Months per Year in Any Country
This strategy was popular in the 80s and 90s. Back then they were called perpetual travellers. Today they are known as Digital Nomads. The strategy is more or less the same. As long as you spend less than 6 months per year in any one country you can avoid taxes legally. In the majority of countries as long as you spend less than 6 months there in any one year you will not be taxed.
Different countries have their own rules, however. If you’ve been a UK resident you’ll want to avoid spending more than 90 days there after you go offshore. If you want to spend part of the year in the USA it’s best not to spend more than 4 months there every year.
Get a Second Citizenship
Taxation is based on residency, not citizenship for most countries. The exception to this is the USA. If you have a US passport you’re obliged to pay taxes there whether you live there are not. You also have the tedious prospect of filing a tax return with the IRS every year. There is a foreign income exception. The US foreign income exclusion in 2022 is $112,00 so a couple moving overseas can legally avoid taxes on $224,000 of income.
There are other legal strategies to avoid taxes on amounts above that. However if you’re a US citizen and never want to file a tax return with the IRS again you’ll have to renounce your US citizenship and get a second citizenship. Citizens of other countries like the UK, Canada and Australia should watch out for a version of citizenship taxation coming their way soon. It’s best to prepare today to get a second citizenship in case you need it as a future strategy to avoid taxes legally.
Accumulate Wealth in Offshore Companies and Trusts
Much like our first strategy, you can accumulate wealth using offshore companies and trust while you avoid taxes legally. Profits and assets accumulated in offshore companies and trusts are not taxed if the structure is set up correctly. The trust can lend money when you need it or even buy assets. Your overseas company or trust, for example, could buy a house that you live in and pay rent to the overseas entity. Much care has to be taken with CFC rules which most high tax countries have. That’s why it’s so important to have professional help when setting up these structures to legally avoid taxes.
Start a Charitable Foundation
Ever wonder why so many high profile business leaders and politicians have their own charitable foundations. Think the Clinton Foundation or The Bill and Melinda Gates Foundation. If you have a charitable foundation you can donate assets to the foundation tax free while maintaining control of those assets in the foundation that you control. The charitable foundation can pay all sorts of expense for you related to the charitable foundations activities. Let your imagination run wild with the possibilities.
How can I avoid having to pay taxes?
You can use the advice outlined above to avoid paying taxes legally
Is avoiding taxes a federal crime?
Avoiding taxes is not a crime. There is a difference between avoiding taxes and evading taxes. That’s why it’s important to structure your affairs very carefully and with top quality professional advice. There are strong penalties for tax evasion.
Can you refuse to pay taxes?
In theory yes citizens can refuse to pay taxes but it’s not worth it. There are many legal loopholes and strategies to avoid paying taxes. If you can structure your affairs properly or move overseas you can avoid taxes legally and have the peace of mind that you won’t have legal issues in the future.
BULLET PROOF ASSET PROTECTION
DISCOVER THE SECRETS OF HOW THE SUPER-WEALTHY PROTECT THEIR ASSETS FOR FUTURE GENERATIONS……
Create asset protection structures so strong that even the most determined creditor or government can’t break them.
The new secret offshore accounts.
How to legally avoid the Common Reporting Standard (CRS)
Which countries are still outside the Common Reporting Standard?
How to find out if your offshore accounts are being reported to your home tax authorities.
How to Set up your own charity for asset protection.
How to legally avoid almost all taxes.
Make Millions by Becoming a Philanthropist
How to Create a Hybrid Numbered Account
How to Use Precious Metals for Anonymity
Which Countries Have Voluntary Secrecy Under CRS
A 10 Step Plan for Financial Privacy
Using Charities for Privacy and Tax Avoidance – How you can use the same strategies as Bill Gates and the Rothschilds
How an easy to obtain new citizenship can guarantee your financial privacy
Anybody who has assets of more than 6 figures to protect can benefit from this report. After devouring the contents you will know exactly what to do to secure your assets. You can protect everything you own from hostile creditors. It doesn’t matter whether it’s a soon-to-be ex-spouse, a creditor, or a government. Using the strategies in this report will make you immune from asset seizures.
It’ll put you in a stronger position to negotiate with any creditors too, safe in the knowledge that your assets are securely protected in a legal structure stronger than Fort Knox. If you decide to settle any claims it’ll be strictly on your terms.
But don’t wait. This is perhaps the most important insurance policy you can put in place. More important than fire insurance or even health insurance. This is wealth insurance. The most important thing is to make sure that you can look after your family. Make sure that you’re not a sitting duck and you can continue to do just that.
In Bullet Proof Asset Protection we’ll answer all your questions on asset protection such as:
Has Your Financial Privacy already been compromised?
How Can you deal with offshore banks safely?
How can you control your assets without owning them?
What are the best jurisdictions to form a trust?
Where is the best place to have a secret bank account?
All your questions will be answered in an easy-to-consume format.
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