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Search: Posts Made By: Big Mike
Forum: Traders Hideout December 5th, 2015, 09:24 AM
Replies: 65
Views: 34,422
Posted By Big Mike
If this is directed at me, then yes. Everything...

If this is directed at me, then yes. Everything is done for the most part.

Mike
Forum: Traders Hideout May 9th, 2015, 03:39 PM
Replies: 65
Views: 34,422
Posted By Big Mike
If this is addressed towards me, you have no idea...

If this is addressed towards me, you have no idea what you are talking about. I don't live in the US. My residence is in Ecuador. However, as a citizen, I am required to pay taxes on my income --...
Forum: Traders Hideout December 26th, 2014, 06:56 PM
Replies: 65
Views: 34,422
Posted By Big Mike
http://premieroffshore.com/retained-earnings-in-an...

http://premieroffshore.com/retained-earnings-in-an-offshore-corporation/



Sent from my phone
Forum: Traders Hideout December 26th, 2014, 06:48 PM
Replies: 65
Views: 34,422
Posted By Big Mike
http://www.offshorelawcenter.com/offshore-panama-f...

http://www.offshorelawcenter.com/offshore-panama-foundation.html



Sent from my phone
Forum: Traders Hideout December 25th, 2014, 10:39 PM
Replies: 65
Views: 34,422
Posted By Big Mike
That's just flat wrong. Why would anyone the...

That's just flat wrong. Why would anyone the America region choose Russia, especially having to pay 6% instead of 0% in a tax haven close to home.

Also wrong about only big businesses benefitting....
Forum: Traders Hideout December 23rd, 2014, 04:12 PM
Replies: 65
Views: 34,422
Posted By Big Mike
On a similar note (restructure, off-shore, etc),...

On a similar note (restructure, off-shore, etc), see this thread:

https://nexusfi.com/traders-hideout/34346-checkbook-iras.html

I believe it is a completely separate topic so created a separate...
Forum: Traders Hideout December 23rd, 2014, 02:50 PM
Replies: 65
Views: 34,422
Posted By Big Mike
I am ready to pay. Just not ready to be ripped...

I am ready to pay. Just not ready to be ripped off. In this case, if that was their tactic then they lost my business. If I could add a zero to the end of my net worth then it would matter less,...
Forum: Traders Hideout December 23rd, 2014, 02:42 PM
Replies: 65
Views: 34,422
Posted By Big Mike
Perhaps, but I generally try to avoid large...

Perhaps, but I generally try to avoid large corporations.

Mike
Forum: Traders Hideout December 23rd, 2014, 02:12 PM
Replies: 65
Views: 34,422
Posted By Big Mike
Come to think of it, she did ask me several times...

Come to think of it, she did ask me several times if I owned any boats or planes. By the third time I said no, she did seem quite disappointed.

Mike
Forum: Traders Hideout December 23rd, 2014, 02:00 PM
Replies: 65
Views: 34,422
Posted By Big Mike
Regardless of why, I told that attorney that I...

Regardless of why, I told that attorney that I didn't get to where I was today by not pursuing a good value. Sure, I need expert advice, but I also need to pay a fair fee for that advice. And that...
Forum: Traders Hideout December 23rd, 2014, 01:55 PM
Replies: 65
Views: 34,422
Posted By Big Mike
I just had a very productive call and got all my...

I just had a very productive call and got all my remaining questions answered with an attorney that specializes in "this". He is also an expat himself. My next step is to consult with my local...
Forum: Traders Hideout December 23rd, 2014, 01:54 PM
Replies: 65
Views: 34,422
Posted By Big Mike
artemiso I will revisit the commercial insurance...

artemiso I will revisit the commercial insurance after I make the organizational changes. Maybe you can make an introduction for me so I can get it done this time without further time wasted.

Mike
Forum: Traders Hideout December 23rd, 2014, 12:44 PM
Replies: 65
Views: 34,422
Posted By Big Mike
Just finished a conference call with another...

Just finished a conference call with another attorney. This group wanted over $80,000 for the creation of trusts and LLC's and that was separate any tax advice/CPA work. That figure was after they...
Forum: Traders Hideout December 22nd, 2014, 01:30 PM
Replies: 65
Views: 34,422
Posted By Big Mike
artemiso, BTW the way I understand it,...

artemiso,

BTW the way I understand it, FBAR/FATCA reporting is for US citizens regardless of where they live or where they bank. Banking institutions are required to automatically report to the...
Forum: Traders Hideout December 22nd, 2014, 11:34 AM
Replies: 65
Views: 34,422
Posted By Big Mike
I have not renounced yet. I may never. But at...

I have not renounced yet. I may never. But at minimum, I cannot until I obtain citizenship outside the US, which will be ~3 years more for Ecuador.

WRT insurance, I contacted a half dozen firms...
Forum: Traders Hideout December 22nd, 2014, 10:11 AM
Replies: 65
Views: 34,422
Posted By Big Mike
Most likely, as they would need to put up a...

Most likely, as they would need to put up a $25,000 bond as the first step. Nevis also has a loser-pays law.

Mike
Forum: Traders Hideout December 22nd, 2014, 09:33 AM
Replies: 65
Views: 34,422
Posted By Big Mike
Hi artemiso, Let's say for example you have...

Hi artemiso,

Let's say for example you have an internet based business with no physical presence outside of a datacenter of your choosing. If that business were to be incorporated outside of the...
Forum: Traders Hideout December 21st, 2014, 08:51 PM
Replies: 65
Views: 34,422
Posted By Big Mike
Which is why I may renounce one day. Sent...

Which is why I may renounce one day.

Sent from my phone
Forum: Traders Hideout December 21st, 2014, 05:51 PM
Replies: 65
Views: 34,422
Posted By Big Mike
Thanks, I tried to find that on Google but didn't...

Thanks, I tried to find that on Google but didn't see it.

Mike
Forum: Traders Hideout December 21st, 2014, 05:47 PM
Replies: 65
Views: 34,422
Posted By Big Mike
Regarding hedge funds setup as offshore trading...

Regarding hedge funds setup as offshore trading businesses:

Source: Hedge Fund Fundamentals Structuring Offshore Hedge Funds - Hedge Fund Fundamentals...
Forum: Traders Hideout December 21st, 2014, 05:40 PM
Replies: 65
Views: 34,422
Posted By Big Mike
No one trying to evade taxes. But it's stupid to...

No one trying to evade taxes. But it's stupid to not try to minimize them legally. I've noted that it seems a majority of hedge funds are setup as offshore businesses, based on what I've been...
Forum: Traders Hideout December 21st, 2014, 05:29 PM
Replies: 65
Views: 34,422
Posted By Big Mike
I may one day renounce citizenship so I don't...

I may one day renounce citizenship so I don't want to create more US based entities.

In addition, I would like to discourage idiotic lawsuits which waste both time and money even though I...
Forum: Traders Hideout December 21st, 2014, 01:52 PM
Replies: 65
Views: 34,422
Posted By Big Mike
For the moment, I've excluded Panama from...

For the moment, I've excluded Panama from consideration, primarily because of this:

Panama loses its tax haven status for 24 hours...
Forum: Traders Hideout December 21st, 2014, 01:48 PM
Replies: 65
Views: 34,422
Posted By Big Mike
http://www.apintertrust.com/offshore_company/nevis...

http://www.apintertrust.com/offshore_company/nevis_tax_haven.htm



Mike
Forum: Traders Hideout December 21st, 2014, 01:40 PM
Replies: 65
Views: 34,422
Posted By Big Mike
Another consideration is an offshore brokerage. ...

Another consideration is an offshore brokerage. This might have tax advantages in some situations. I don't want to post too much about this because I am not an accountant nor an attorney. But if...
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