You mean that I won't pay taxes on anything _ABOVE_ 200K+? Is this for earnings for me and my wife, or for me as a trader only? nitro
Below, and you have to set it up right. Above is standard capital gains. Or you could expatriate and not pay any ...
Let me get this straight - I don't want to make a mistake. Are you saying that if I make 150K a year trading, and I move to Freeport, and I set it up correctly, and I keep my American Citizenship, I don't have to pay any taxes? And, if I make, say 250K, then I only pay 20% on the 50K!!?? nitro
metoo, Can I set up a corporation in Freeport, stay here in Chicago, trade "thru" the corporation, and still get the benefit?? nitro
No, not legally. But, I know a number of people that have tried; some got caught, some didn't. PS Cold Chicago winters, hot and humid summers vs paradise.
Ugh - LOL - I am a law abiding citizen...No amount of money is worth having my daughter having to visit me in jail... Paradise is becoming more and more a necessity... nitro
It is 3:13 AM here and I am going sailing in the morning; I am going to bed. We can continue this discussion tomorrow. That is the other weird thing here. In Chicago I was asleep by 10 and up by 5; here I stay up late and crawl out of bed at 8. Maybe I need one of those wild women that I see to wear me out at night. On second thought the probable outcome of that would be embarrassing myself and disappointing her. Maybe a rent a women, then she wouldn't care...