/biz/ - Business & Finance

>get educated
>go overseas
>get foreign citizenship
>renounce american citizenship
Its what I did. I work in Singapore. No capital gains tax. No estate tax. Low income tax. Low goods and service tax. Its fucking amazing.

Now here's a thread that doesn't glow at all

buy caribbean passport for $100k

/thread

>>50815449
Do note that you have to pay an exit fee as punishment for abandoning the land of freedom. It was around $8k for me when I left for a grand total of $10k.

>>50815417
>We are now going to learn the best ways to avoid taxes
get a second passport and renounce US citizenship

>>50815480
more info pls

>>50815503
>>50815480
Yes please explain the process for myself and others wondering. Apparently the IRS takes 20% of all your value when you renounce your citizenship.

>>50815460
Its not illegal to avoid taxes asshat

>>50815514
>>50815526
get a dominica or stkitts passport
https://csglobalpartners.com/resources/citizenship-by-investment/the-ultimate-citizenship-by-investment-guide/

I’m not a retard so I paid my taxes. Enjoy getting caught in some years.

>>50815554
Is this really the best they could do with 80 billion? Kek

>>50815526
>Apparently the IRS takes 20% of all your value when you renounce your citizenship.
Even so thats significantly cheaper than being an American citizen. The cons outweigh the pros.

>>50815460
Loopholes are not illegal, for instance you can open an LLC and write off most of your expenses under your “company”. Gas, dinners, vacations, cars, boats, ect. All of this is legal and until you learn these tricks from the elite you will remain poor.

>>50815554
>shabbos goy brags about spreading his ass cheeks for the IRS
You're either a paid shill or concern trolling. Either way, eat shit.

>>50815417
First what you do is put your assets into a hard wallet. Second, draw your own blood, third, go kill a coyote or the native predator in your area. Drive your car off of a cliff and then go down the the wrecked car and put your own blood on the steering wheel and inside of the car as well as outside of the car, cut various lengths of your hair off and put it in a few spots in and near the car. Then put the coyote fur in parts of the wreckage where fur would be caught. And then gtfo of the country. After this you have now faked your death. Once in a corrupt country you can pay certain people to get new identity’s and then after that access the cold wallet and transfer your assets to something tangible like gold or what not. Pay who you need to pay to make everything happen.

>>50815526
Who said anything about renounce your citizenship, just become 2 differant people. One is rich, the other is poor.

>>50815554
Yes goy, fund the ever growing and ever multiplying government bureaus.

>>50815449
Im a Canadian citizen and I'm planning on moving to Singapore. Canada taxes on residency not citizenship so I don't even have to renounce. I work in finance, getting a few years of exp before I move over.

>>50815879
>moving to Singapore
>smoke weed
>30 years in gook prison and 5000 lashes

>>50815493

What was that process like, anon? And how long did it take?

>>50815942
Just dont smoke weed? Weed addicts are fucking retarded.

>>50815417

You can't deduct gifts, but they are tax free to the recipient.

The donation trick works wonders though. I was doing this with bulk magic. Cards that cost more to mail out than they are worth, but have a market value, since you're actually paying for the service of sorting and mailing. Bonus points if you own the charity you donate the shit too so you retain control of it.

>>50815417
How to avoid paying taxes in Europe?

Where would you incorporate if you had a design agency? Not planning on employing others for the next few years. Just wanna get started and not pay for (((ukrainr)))

>>50815480
Are you the anon using the home sharing program and living in different countries?

I was thinking of trying out the trust "you will own nothing" route, because I like having a permanent residence and not having to worry about the amount of time I spend in the same place.
I plan on waiting until next year to decide if I move somewhere else.
Do you know how much your shared residence plan costs you for a year?


My current issue is trying to make back some of my lost wealth which made me into an ultra NEET literally spending all his time before his computer...
There is so much to learn about wealth management, trading.
It's never ending and takes as much time as a full time job.
The result is I can't relax as I learned to check up on the markets every day, and this does not seem compatible with relaxing.

>>50816108
Also this...
There are low tax countries in eastern Europe or Portugal for crypto only, but learning a new language and culture is just too much pain. It's not worth it to feel alienated just to spare taxes.

>>50816160
no, different.
>>50816108
>>50816160
but there are digital nomad visas and golden visas if you can prove monthly income from a digital business and invest in a property in europe, central america and asia

>>50815449
>>50815879

Yeah but you have to live in that sweaty soulless gook shithole

>>50816315
"soulless" 90% of the places ive been to in the US is more soulless than Singapore. Only place I genuinely liked was New York.

>>50816294
I have a citizenship from Europe and probably only need a carribean passport if I plan the trifecta lifestyle of staying less than 6 months per year in a country.

The issue for me is that I changed countries 3 time because of my parents and then for my work.
I am sick of this life and dream of finding a real home where I can fit in and don't need to adapt to a new culture.
Unfortunately there is no place on this planet which can give me this for I am too abnormal and can't fit in anywhere.
I still haven't learned properly the language of my current country after a decade, because I stopped caring and it was too much effort after doing it one time previously and being rejected despite being perfect with the language.

>>50816377
Isn't it an extremely high density and high cost of living area?
Don't you need to throw away 2 millions in a bank to get a residency permit?
What makes it special for you from a cultural perspective and how easy was it to fit in?

>>50816315
Have you been to America? Asians are everywhere.

>>50815942
Sounds like my kind of place.

>>50815586
Yes government is retard central.

>>50816108
/pol/ has rotten your brain.

So what if you have money but you don’t earn a income on paper but your credit is shit? (You have more money in crypto but don’t cash out) what would you do? Pay all CC debt?

>>50815417
What about for UK bros?

I would never avoid paying my taxes, officer. That would be illegal after all :^)

Too many dumb cunts confusing this for a tax evasion general

>>50815417
>9. Give it away
In Minecraft, I have amassed 10,000 items to resell for $100 each For simplicity, they are all the same item. Each item cost me $20. Over the year, I sell half of them. ($100 x 5000) End of year comes, rather than pay tax on all that unsold inventory, I donate the rest of it to Goodwill or whatever. Safe to assume market value of each is $100 since that's what I've been selling them for. So I make a donation equal in value to what I grossed from actual sales. I'm not paying a cent in tax, right?

>>50815417

REEEEE THATS ILLEGAL ANON YOU CAN'T JUST SWAP THINGS OFF LEDGER LIKE THAT WITHOUT A BANK! REEEEE EEEEEEE REEEEEEEE REEEEEEEE MODS REPORT OP TO IRS REEEEEEEEEE REEEEEEEEE MAKE OP PAY TAXES AND SEND HIS BRO TO JAIL FOR CRIMINAL FRAUD REEEEEEEE REEEEEEEEE! MODS QUICKLY THEY ARE SUPPORTING NORTH KOREAN NAZI RUSSIAN SPIES! REEEEEEEE REEEEEEEE REEEEEEEE STOP TRADING CHEESES AND RARE WINES REEEEEEEEE THATS TERRORISM!

>>50819353
I’m not taking advice from a bunch deer molesters

>>50819353
Seriously though, consider how easy it is to be a Russian disinfo spy. The liberal democracies they bait and fear do more than half the work for them.

>>50821714

You wouldn't pay tax on something you haven't sold yet. That said, you could still donate 4000 widgets at a MV of $100 each and owe now income taxes on the profit made from selling the other widgets.

A PSA 10 FRLG Charizard has a book value of $4,500 but the cheapest on eBay is $4,000. After fees you're down to $3,560, 28% collectibles tax + 10% if you live in a bad state and you're left with a profit of $2,207.20. Just giving it away at 24% federal and 10% state is $1,530. You're getting 70% of the value just giving the damn thing away.