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LEGAL OFF SHORE TAX HAVENS: How Take Legal Advantage of the IRS Code and Pay Less in Taxes | 
 enlarge | Author: Jesse Schmitt
Publisher: Atlantic Publishing Company (FL)
Category: Book
List Price: $24.95
Buy New: $15.47
You Save: $9.48 (38%)
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Avg. Customer Rating:  6 reviews
Sales Rank: 222713
Media: Paperback
Number Of Items: 1
Pages: 288
Shipping Weight (lbs): 0.5
Dimensions (in): 8.8 x 6 x 0.8
ISBN: 160138257X
Dewey Decimal Number: 343.730523
EAN: 9781601382573
ASIN: 160138257X
Publication Date: July 3, 2008
Availability: Usually ships in 1-2 business days
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Product Description
An ever increasing number of Americans are convinced that our country is no longer the land of safety or opportunity when it comes to their money and investments. These people recommend transferring your money to offshore tax havens in such countries as Dubai, Hong Kong, Switzerland, Liechtenstein, and Panama. In fact, it has recently been estimated that nearly 60 percent of the world s money is located in offshore accounts. Legal Off Shore Tax Havens will show you how to protect your money and remain legal while doing so. Off shore tax havens are sovereign nations that have laws in place that protect people s financial privacy, assets, and cash. In this new, exhaustively researched book, you will find out how to take advantage of this system. You will learn how the system works, how to develop business opportunities, how to avoid excessive taxation and regulation, how to bank and invest off shore, how to find the tax haven that is right for you, and how to avoid scams. In addition, you will learn about the safest, most private nations, the best off shore banks and tax havens, what is and what is not legal, the best haven for your specific purposes, mistakes to avoid, legal issues, and basic off shore entities. You will also learn how sophisticated tax avoiders use countries such as Ireland, Austria, and the Netherlands to avoid suspicion; how to use residential tax havens, including Argentina and Costa Rica; and how to use Greece, the Phillipines, and Jordan as completely tax-free havens. Legal Off Shore Tax Havens will provide you with the strategies, knowledge, and contacts you need to avoid expensive mistakes and make the most of your offshore pursuits. This book is for those who are weary of paying high taxes and who are suspicious of the government. Whether you are seeking to move your business s money or your own personal finance, this book will provide you with all the necessary information to make a smooth, legal transition.
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| Customer Reviews: Read 1 more reviews...
 Finally - a place to legally stash that hard-earned cash of yours! August 19, 2008
Jesse A. Schmitt wastes no time in launching an opening salvo meant to grab the reader's attention: "...Nearly one third of the income from our jobs goes to taxes. In the average lifetime of an average worker, he or she can expect to pay literally hundreds of thousands of dollars in taxes..." Not exactly the stuff dreams are made of, but thanks to his book "Legal Offshore Tax Havens", you can put yourself on the fast track to keeping more of what you earn while at the same time keeping the Government's paws out of your back pocket.
Let's face it, Uncle Sam is not going to go out of his way to show you how to legally not pay taxes or keep your money in offshore tax havens. In fact, the very concept of offshore bank accounts and tax havens lends itself more to the very rich than it does to the hard-working man or woman on which this country was built. I was thrilled to discover that is simply not true. Schmitt tosses that notion right out the window and does a superb job of demonstrating that you don't have to be Howard Hughes to benefit from the principals outlined in "Legal Offshore Tax Havens."
Schmitt explains in easy-to-understand terms the concept of the "offshore account" or "tax haven:" which refers to a simpler time when a loophole in the US tax code allowed income being held outside of the country's boundaries as tax exempt. Said loophole is now a thing of the past. These days "offshore accounts" refer to holding your income in another country. Easier said than done perhaps, as the key to obtaining an offshore account or tax haven -- recounts Schmitt -- demands that you obtain dual citizenship in one of the listed "tax haven" countries listed in chapters 8-11.
Having said that, let me say that Legal Offshore Tax Havens maps out a common sense strategy for keeping your money safe. Like any worthwhile venture, placing yours money in an offshore account or tax haven country requires a commitment on the part of the reader, in addition to patience and legal expertise of a lawyer or accountant to read the fine print.
Well written and easy to digest. If you ever fancied the idea of keeping your hard-earned money stashed away in a foreign country this'll is the book that will take you there. "Complete" in very sense of the word, Legal Offshore Tax Havens comes armed with everything you need for your journey: points-of-contact, phone numbers and directions. The only thing missing is a passport.
I applaud Jesse A. Schmitt for presenting the facts and not just filling page after page with generic information. An important resource - a thorough read of Legal Offshore Havens will certainly help you discover a pot of gold at the end of the rainbow. I know it did for me!
 Break Free of Big Brother July 18, 2008
We are all slaves to the system, loosing about 1/3 of our income to taxes, but a growing number of people are breaking free of big government. Legal Offshore Tax Havens: How to Take Legal Advantage of the IRS Code and Pay Less in Taxes tells exactly how to stop Big Brother from fawning over every penny you earn.
Jesse Schmitt, a big believer in individualism, answers questions about travel, relocation, foreign banks, and global investing. He discusses both the benefits and the risks of legally avoiding taxes.
The book overviews many island tax havens, a few places in Africa, and several familiar and not-so-familiar countries in Europe. There is even a state in the US where citizens can generate tax-free income. The appendices offer lists of helpful organizations and banks in the Bahamas, St. Lucian, the UK, and Switzerland.
Legal Offshore Tax Havens: How to Take Legal Advantage of the IRS Code and Pay Less in Taxes is not for people who clock 40 hours a week, take their paid vacations, and expect retirement to begin the moment they turn 62 and a half. Creating an offshore tax haven requires self reliance and an adventurous spirit. This book is perfect for those with loose ties to family and country who are tired of paying into a system that punishes the industrious and rewards the lazy.
Are you open to new ideas?If your idea of the American Dream involves working at the same place, scraping by for 40 years, and r July 8, 2008
If your idea of the American Dream involves working at the same place, scraping by for 40 years, and retiring with a heavily taxed fixed income, do not read this book. However, if you feel taxes are unfairly blocking your ability to amass wealth, or if you plan on working in a foreign country anytime soon, you must read Legal Offshore Tax Havens by Jesse Schmitt
With astounding knowledge of tax laws in nations most Americans don't even know exist, Schmitt provides information for individuals seeking tax relief. Before addressing specific tax havens, Schmitt gives an overview explaining what tax havens are, their benefits and risks, and common misconceptions. He also comments on various global investments, including real estate, capital investment, and offshore banking.
The author contends Legal Offshore Tax Havens was written for those who work and live in a foreign country or for those who make money globally with no intention of leaving the U.S. However, with the exception of a very useful section on taking advantage of the IRS's Foreign Income Exclusion Deduction, most of the book deals with becoming a foreign resident or ex-patriot.
Regardless of your personal feelings about taxes (I'm guessing you don't like paying them either), Legal Offshore Tax Havens will make you a more informed (non) taxpayer.
A Perfect Foundation to Taking Advantage of Legal Tax Havens July 6, 2008
While many view taxes as unavoidable in a civilized society, Jesse Schmitt, author of Legal Offshore Tax Havens brings the dream of tax-free living within reach. In this thoroughly researched guide, Schmitt carefully reveals the tax-free living potential of numerous locations such as the U.S., Canada and the U.K. including all the countries, continents and islands in between.
This text serves as a manual for anyone legally looking to minimize or eliminate his or her personal and business tax burden. Schmitt even describes the ideal candidate for this venture and closely reveals the advantages and disadvantages of taking such an action. He clearly defines the difference between tax evasion and tax avoidance in terms of their legality and the penalties for not playing by the rules.
The author scrutinizes each potential tax haven based on political, economical, cultural and physical climate. Designed to be the starting point of your research, this manual provides many suggestions and additional contacts to further your investigation.
Whether you are looking to travel, establish a foreign business, retire, invest or leave the suffocating pressure of your home country's tax policies behind, Legal Offshore Tax Havens offers solutions and advice that insures the transition takes place successfully.
Keep Your Hard Earned Money With What This Book Has To Teach July 4, 2008
Tired of 1/3rd of your paycheck being taken by the government? Do you see people around you living the American Dream because they were born in the right income bracket making them entitled to tax breaks and wonder why not you? Well don't let the government take your money anymore, read this book on Legal Offshore Tax Havens and find a way to keep Uncle Sam's fingers out of your wallet.
This work espouses the philosophy that paying taxes is something people do simply because they don't know how to legally avoid doing so. I can't say I disagree. If I were given the choice to simply not pay taxes I would certainly take it, and I don't think there are many people out there who wouldn't. Most people hear a few things about offshore accounts and tax havens in reference to multi-billionaires and their personal fortunes and immediately assume that because their own income is much lower that they could not benefit from these same institutions. This is not true. There are many misconceptions involving the creation of an offshore account, how they work, and who is eligible to use them. This book does a great job of explaining the concept as well as allaying suspicion and misunderstandings.
Essentially it involves applying for and obtaining dual citizenship with one of the listed "tax haven" countries. The term "offshore account" or "tax haven" are misnomers from a time when there existed a loophole in the US tax code which stated income being held outside of the country's boundaries i.e. in international waters, which is anywhere more than twenty miles offshore, was tax exempt. Since then revisions have been made to the tax code which has closed this loophole, though the names still exist. The terms now refer to holding your income in another country in which you possess tax exempt status.
This book does a fine job of outlining the principles behind this as well as different methods of legally holding your money where the US government can't touch it depending on your needs and financial situation. Of course whenever you attempt something like what this book proposes it is important to consult an accountant to ensure you have all the right paperwork filed and are obeying all the statutes to avoid the possibility of fines.
I give this book 5 out of 5 stars. It is well written and easily understandable, even to the layman who may have little to no experience with tax law and protocol. It clearly defines all terminology used and the theory behind the procedures listed. You will find a clear list of steps required for each possible way of using a tax haven, complete with paperwork as well as addresses for hundreds of legal banks, firms, and tax associations throughout the world which can help you. This includes the names and phone numbers of the specific people you would need to speak to. I'm amazed that the author took the time and did such a thorough job as to include information on hundreds, if not thousands, of people that can be of help to you worldwide. It's just one reason I would suggest you definitely give this book a read.
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