tax basis

Discussion in 'Taxes and Accounting' started by mkmps, Aug 24, 2002.

  1. mkmps


    I've been thinking to take my trading business more seriously, however I want to take to a different country. I am totally clueless as of legal basis for such move. Where do I start looking on what my tax considerations would be if say i traded out of eastern europe in US exchanges? do I have to establish a synthetic entity, and then get tax according to business law standarts, or in my particular case, the country's citizens aren't even required to file a tax return. Does that mean I can take 100% of my profits?
  2. What country are you a citizen of?

    What country do you live in?

    What markets are you trading in?
  3. mkmps


    H-1b proffessionals visa; currently work in US; target coutry is either Luxembourg or Lithuania where I'm from, or any other english/german speaking country. Trading GLobex, Some amex, just to soften my positions. Up to now I was dealing with it through 1099's on my personal tax return, however, If I am not in usa, and have no other legal ties, what is my tax status? I'd like to keep my current trading style, which would be definetly altered if I had to search for new instruments with more favorable tax treatment. I am not to the point yet to get a lawer on this case, but I am getting awefully close, cause I can't really find any info on that.
  4. Dump your visa and residency; you will have no US tax liability trading US markets.