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Trader KGB
Registered: Jan 2005
Posts: 1090 |
04-25-07 03:53 AM
fhl is refering to this thread, though it contains some potentially false/unverified information.
fhl,
Read through this current thread, Inflector goes through everything. You can't just move down there and get the tax benefits, else every trader in the US would be packing up and moving to the USVI.
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fhl
Registered: Nov 2005
Posts: 3039 |
04-25-07 08:38 PM
Quote from Trader KGB:
fhl is refering to this thread, though it contains some potentially false/unverified information.
fhl,
Read through this current thread, Inflector goes through everything. You can't just move down there and get the tax benefits, else every trader in the US would be packing up and moving to the USVI.
If by everything, you refer to the edc exemption, I guess you would be right. He didn't, however, discuss personal taxes without the exemption, which is what the other thread was doing. I was merely trying to find out if what the other thread claimed, was actually right.
In other words, trying to get verification.
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Jayford
Registered: Dec 2002
Posts: 3143 |
04-25-07 09:59 PM
I was the one who started the other thread. By law, if you live in the usvi, you pay VI taxes, and not US. This is a fact. This is also the case in Guam and a few other territories. However, if you live in the usvi and have a business in Jersey, then this is not the case. Your income is derived from the US then.
As for the taxes in which Inflector is referring, that is a different issue. That is a method to hardly pay any taxes at all (comes to about 10% total I believe).
As for the usvi phasing out cap gains after 2008, I am not sure about this. I found one sentence mentioning it among about 30 articles read doing google searches on the usvi tax authority.
But note, and this is important, you must be a resident of the usvi to get any tax benefits. This means you LIVE there. You should obviously get a local tax attorney to help with the details as well. Inflector can steer you there.
And BTW, there are hedge funds based there, as well as Larry Williams. Now why do you think Larry moved there? As far as I know he doesn't employ more than a few people. He writes trading books, does seminars, and trades.
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fhl
Registered: Nov 2005
Posts: 3039 |
04-26-07 02:30 PM
Quote from Jayford:
I was the one who started the other thread. By law, if you live in the usvi, you pay VI taxes, and not US. This is a fact. This is also the case in Guam and a few other territories. However, if you live in the usvi and have a business in Jersey, then this is not the case. Your income is derived from the US then.
As for the taxes in which Inflector is referring, that is a different issue. That is a method to hardly pay any taxes at all (comes to about 10% total I believe).
As for the usvi phasing out cap gains after 2008, I am not sure about this. I found one sentence mentioning it among about 30 articles read doing google searches on the usvi tax authority.
But note, and this is important, you must be a resident of the usvi to get any tax benefits. This means you LIVE there. You should obviously get a local tax attorney to help with the details as well. Inflector can steer you there.
And BTW, there are hedge funds based there, as well as Larry Williams. Now why do you think Larry moved there? As far as I know he doesn't employ more than a few people. He writes trading books, does seminars, and trades.
Without knowledge of what the current tax rates are there, as well as not knowing what williams situation is, we really have no basis for speculating which tax route drew him there. It's a good bet he went there to save taxes, though.
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dandxg
Registered: Oct 2005
Posts: 4271 |
06-04-08 05:19 PM
Just looking to revive this thread as I am seriously considering moving there in about 1 year.
Inflector I know you are busy on the campaign trail, but I was wondering if I could ask you or any other knowledgeable person so questions on USVI.
I am trying to find an objective database to compare some info something like bestplaces.net for the mainland, but don't see anything.
I was surprised housing actually looks reasonable when I started to look.
There is no way I am ready to employ 10 so is there any current tax advantage to moving there for a full time trader? What about crime? I have read most of the Carribbean threads over the months and years on ET. USVI as I have been told has lower crime than say DR, but may have higher crime than BVI? I believe St. John has higher crime than St. Thmomas if I am correct?
I need a reliable high speed connection as I day trade. Constructive feedback is appreciate.
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