Tired of half of your paycheck being stolen and given away to junkies, bums, criminals, illegals, foreign countries, and single mothers? >Me too!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?God Mode: How do you legally accomplish this with your wage while working as an employee of a store, etc.?All while legal, of course.
>>536220134I've seen threads on this topic before and the usual conclusion is you cannot 100% escape tax, as even though there are places without tax that you could move to, there are "exit taxes" that may somehow reach you anyway. Granted, the financial world is often changing so maybe someone has new information that says otherwise. Either way, one way to offset tax on your "goal amount" is to just make even more money.>how to growEssentially pic-related. In many ways how much you succeed and how far you go comes down to how long you keep at it.
>>536220134data mining thread op is a welfare recipient (irs nigger)
>>536220134You can buy crypto that is backed/pegged to real world assets such as shares, which gives you exposure to their price appreciation while still remaining anonymous. And outside of your domestic tax jurisdiction. You can do this on decentralised exchanges with no KYC or identifying information required.
>>536221003Close, but no cigar.
>>536220134Meh. More like 30%. And you get most of it back at the end of the year. Hell, I got the biggest tax return of my life this year. You seem young and naive.
>>536221266Where on earth can you buy XMR or the likes and have it appreciate exactly as a particular small stock, such as Bank of New York Mellon (BNY), etc.?
>>536221994It's not XMR, it's mostly USDT and USDC on Ethereum and Solana chains.You can by tokenized Tesla shares (TSLAX) using defi swap gateways (anonymously). Or if you must use a centralised exchange, the biggest one for tokenized stocks is probably UZX which is based in the Cayman Islands and doesn't enforce KYC on small tradesI just picked Tesla as an example because it's popular.>https://assets.backed.fi/products/tesla-xstock
>>536222480But can you do that with lesser known, small stocks? And what limit does KYC kick in on the centralized one? Thanks.
>>536220134Is your net worth at least 10 million? If the answer is no, then focus on actually increasing your income. If you're a poorfag, you have to try to first maximize your main source of income, which is usually a job, and then transition to something that scales higher when you feel like you've "maxed out". For example, 5 years ago I seemed to hit a hard limit with around 200k a year (pre tax) at job. So I set up an LLC and focused on doing pretty much exactly what I was doing before only selling it directly.With that structure there is no real limit on your income now. You can set whatever price you want and maybe you go below market rate just to get your initial clients. You gradually increase your prices and build reputation. From there you can hire other people and put the extra money into rather passive investments.For the type of structure where you're basically paying absolutely fuck all tax. The short answer is that you will need like 20 fucking bank accounts. Bank accounts for all the various entities, like a family trust for estate planning. Your company bank account for the LLC. And of course the entities themselves that you might offshore a company and come up with something like a licensing agreement or something like this so you can legally get the beneftis of the lower tax rate and also benefit from (legally) causing your most highly taxed (rate) company to incur more of a loss on paper so you pay less tax in your home country.It can be done but I recommend you just transition first (slowly) to self employment with the LLC and two (business and personal) bank accounts first. Pay some accountant to help you if you don't have a relative or in-law that can help you with filing basic returns. As things get more complex, like you want to split off your company investments into its own thing for example and you want a holding company, etc. Just pay. But again, if net worth under 10 million? Not worth it.
>>536220134The only way you can reliably reduce your tax liability is to start an LLC and funnel your money through that, either by having your job pay it or whatever you do for earnings. Then, you pay yourself minimum wage or better yet dividends, and everything else gets a seriously reduced corporate rate. Then when you want to buy something, you buy it in the LLC's name. Dumb shit like this this is how Elon is the worlds richest man but on paper is worth less than probably a good chunk of the goons that post here. Find a good accountant that isn't going to try and stick you with some middle class moral obligation. ALL rich people do stuff like this. They also file bankruptcy as a matter of course, because it's just more money.
>>536223075>can you do that with lesser known, small stocks?Not yet, because in order to create a market for a cryptocurrency backed by real world assets, the exchange needs to hold a bunch of those assets. For now they mostly just hold big, well known stocks like Tesla and Apple.I don't use UZX, I would use Raydium (defi, no KYC)
>>536223667Haven't read all yet, but based as fuck, thanks.>>536223952Aren't all single member LLCs treated as pass through for tax purposes?>>536224085Based, thanks.
If you don’t sell your stocks there are no taxes owed.Use interactive brokers who has really good margin rates. If you dont use this do an ACATS transfer to interactive brokers and maintain your existing cost basis.Whenever you need money rather than selling take out a stock loan on margin. Even better if you have portfolio margin and level 4 options you can sell SPX box spreads for even cheaper interest rates.The money you get from margin or SPX box spreads is tax free and since you didnt sell there are no capital gains tax.Whenever you die your heirs will get a step up in basis and they won't owe any taxes.This strategy works if you invest in index funds which you dont plan to sell ever. If your buying individual stocks this isnt going to work.There is one more strategy you can lookup which is a leveraged long / short approach where you can generate tax loss harvesting scenarios even in a up market to convert your current holdings which might be concentrated into diversified index funds. I'm not as familiar with this strategy but in theory it sounds worth looking into for the right individual.
>>536223667But how does having an LLC reduce taxes? The LLC is taxed and so is any salary you are paid from it.
>>536220134Donate to contraception charities so there less welfare sponges, niggers etc in the world. It also is tax deductible so less taxes I donate to MSI contraception
>>536224829>This strategy works if you invest in index funds which you dont plan to sell ever. If your buying individual stocks this isnt going to work.Why not?Also, which options strategies easily make 200-300%+ per year or higher? (Side question.) Or are they all risky?
>>5362250192based4u
>>536226400There are also charity raffles there gambling but tax deductible do them aswell
Elon Musk uses the "Buy, Borrow, Die" strategy to minimise his taxes.>Rather than a traditional cash salary, Musk’s compensation is tied to stock options and business growth. Because U.S. tax laws only tax realized income (like a regular paycheck or sold stock), his massive net worth growth on paper generates zero personal income tax until he sells.>He pays back these loans by periodically selling small amounts of stock, taking on new loans, and using payouts or dividends received from his privately held entitiesI'd say many wealthy people do this
>>536227264This is standard among rich persons.
>>536227680AKA, not for you or I.
>>536229287Gooby pls.
