Does a US citizen who creates an irrevocable trust offshore, which owns a portfolio of US stocks, have to pay capital gains taxes on the stocks?Does the trust itself pay US capital gains taxes? What if the trust owns a foreign company that owns the portfolio of US stocks?Tl;dr: How can a US citizen pay into a portfolio of long term stocks of his own choosing (and grow that portfolio forever) without ever having to pay capital gains taxes, or preferably any taxes whatsoever?Hard mode: Same question but with a business the US citizen owns and operates from within the US. How does he pay as little US taxes as possible on all business income? What if the company was based offshore and also owned by an irrevocable offshore trust?All while legal, of course.
The only ways to do what you are trying to do are investing in an IRA or using a corporate entity to own assets. Trust law does not offset tax liability no matter who the executor, trustee, or beneficiary are.
>>62299601US citizens are taxed on all their income no matter where that income is generated.Did you really think (((Uncle Samuel))) would allow you to avoid paying your pound of flesh?
>>62299601Puerto Rico Act 60
>>62299601>AmericanDon't even bother.
>>62299601You can hide shareholders information in the british islands and make a holding company bank that a person can have funds transferred to on-land banks.>British Virgin Islands (BVI) companies do not publicly disclose shareholder information, as ownership records are filed confidentially with the registered agent and are not accessible to the general public. This structure is commonly used to create holding companies that can hold assets, manage investments, and facilitate the transfer of funds to onshore banks while maintaining a degree of privacy for the beneficial owners.
>>62300119Obscenely based.
>>62300119The British Virgin Islands (BVI) does not routinely and automatically send BVI company shareholder names directly to the IRS. However, under the U.S.–BVI Intergovernmental Agreement (IGA) for the Foreign Account Tax Compliance Act (FATCA), BVI financial institutions (like banks) are required to identify and report accounts held by U.S. taxpayers directly to the BVI International Tax Authority (ITA), which then shares this data with the IRS
>>62300119>British Virgin Islands (BVI) companies do not publicly disclose shareholder informationRegularly there is 'someone' who works at the banks and has a concern people are not paying taxes and releases the info to SEC/IRS, and gets a big reward for snitching.Your info is never safe. Most, if not all, of the 'offshore' tax havens are run by, or at least infiltrated by, various intelligence agencies that is why they are allowed to exist in the first place, they use it for money laundering for their own money and to keep an eye on everyone else for blackmail.
>>62300254Absolute truth.
>>62300088This if you "move" to puerto rico you don't have to pay any taxes. So buy or rent a cheap condo and legally move there. Technically you have to live there 6 months out of the year but I spend probably only 1-2 months there since I'm always traveling and I've never had an issue.>>62300119I mean yes you could just become a tax evader but that always has its risks.
>>62299694But it is the irrevocable trust that owes the taxes where it is based in (offshore) and the irrevocable aspect separates the creator's tax liability legally, no?>>62299708Correct. But since the trust is irrevocable and offshore, it is someone else's, not the creator's.
>>62300088Just live in a third world country.
>>62300357Anyone answering this?
>>62300962Gooby pls.
