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Foolproof and legal way of "money laundering" found. Interested?

Subject to the moderator of this NG letting this message in, and subject to audience interest (I will calendar to check this message in about a week), I would like to start a thread on "legal" and "foolproof" ways of "laundering money".

What I mean is this: moving your money offshore from the USA and then having it disappear, legally, and without having to renounce your citizenship.

I figured it out, and it's foolproof and legal, but I'm not going to get into it unless a lot of people are interested.

Here's a hint: it involves always filling out the relevant paperwork with the US authorities, then buying real estate with your money. But it's more complicated than that, and it depends on which country you buy your real estate.

Any "Marc Rich" wannabes out there?

Of course you realize that posting on the Internet is not anonymous--unless you go through the bother of randomizing your internet address, it can be traced to you, and the IRS/Homeland Security databases are getting bigger and better every year, thanks to Oracle and others-- not to mention that your SysOp knows what you are posting at all times and might be tempted, if in a bad mood, to send a letter to the IRS accusing you of money laundering, which, if it can be proved, carries, post-Patriot Act laws, a penalty more severe than murder (depending on how much money is laundered).

Still interested? LOL. It's foolproof, but even as I type this I wonder if I should be talking about it, since it took me about 10 years to figure out. Not that I plan on doing it mind you.

Ray

======================================= MODERATOR'S COMMENT: In the interests of demonstrating once again that financial security comes from living within one's means and saving regularly, feel free to post/discuss your "foolproof" discovery.

Reply to
raylopez99
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Ray,

There are a number of ways to do things like this, all of them legal -- but many of which may or may not produce unfortunate tax consequences. For example, using foreign life insurance to purchase your US business (assuming that the US business has no US real property -- to avoid FIRPTA) or setting up a CFC/PFIC to take advantage of the 163(j) stripping provisions or using foreign leasing transactions. It really is easy to do. No magic needed. Just some basic tax knowledge.

Gary Brolis

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rayl> Subject to the moderator of this NG letting this message in, and

from living within one's means and saving regularly, feel free to post/discuss your "foolproof" discovery.

Reply to
Mechanics of Money Financial BBS

Excatly, tax avoidence is to be manipulated at every oppuntunity. Controlling your monies exposure to the brunt of taxes is simply sensible.

Tax Evasion on the other hand is a completely different story. For one thing, you are breaking the law if you don't pay any tax whatsoever while living in the country 100% of the time that you worked/invested that year.

The truth is that it is too risky to commit tax evasion, and for what? For a miserable 5-6% extra tax?? (decent tax avoidence would pare your main work taxes down to about 6-10% tax per year.)

Anyway, tax avoidence is easy. Just invest in a roth a/c if you happen to be usian, or any other tax free pension in your country of origin. The rest is just details, like not being stupid enough to buy heavily taxed goods like SUV's. (at least where I live in europe, maybe not in the USA)

Mechanics of M> Ray,

from living within one's means and saving regularly, feel free to post/discuss your "foolproof" discovery.

======================================= MODERATOR'S COMMENT: Please trim the post to which you are responding. "Trim" means that except for a FEW lines to add context, the previous post is deleted.

Reply to
Morgan

Well, my reply never made it to this thread; moderator must have disapproved it. My foolproof method remains a secret. Just as well I suppose.

RL

Morgan wrote:

======================================= MODERATOR'S COMMENT: We would like to read about your foolproof method. But as we said when we returned your post, it was too long. Please consider condensing it for all to read. - HWW

Reply to
raylopez99

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