US Tax strategies are not only for the super rich. Indeed, the truth is that there are viable protection strategies available for the mass affluent population of Americans. As a result, millions of American citizens already live offshore and pay little or no US income tax. The vast majority of them are not super wealthy! They are prudent, global citizens protecting their assets and planning for the future.
You too can eliminate US income tax and protect your assets from liability. Additionally, live an affordable lifestyle with a higher standard of living in the country where you are well received.
How do Americans successfully expatriate? It is a simple step by step process. Do what is necessary, as a result, your next US tax return could be your last. Here is everything you need to know to live the expatriate offshore dream.
The Best US Tax Strategies List
Take an honest look at your tax rates, your savings account balance and your succession plan. Simple tools such as tax residency, citizenship by investment, renunciation, limited liability companies and asset protection trusts can be used incrementally to protect your family, your assets and your freedom.
- Second Citizenship – By obtaining second citizenship, your income and financial assets are protected like a kernel. As necessary, the kernel is protected by new layers of protection such as offshore tax residency and renunciation.
- Renunciation of US citizenship – Many mass affluent Americans have chosen the path of renunciation. Protect your offshore income indefinitely by forfeiting your US passport.
- Tax Residency – Tax residency in the right jurisdiction allows you to live in offshore paradise. To be clear, tax residency in a territorial taxation country or offshore tax havens eliminates all international income tax, not only US income tax.
- Limited Liability Company – Your business and real estate holdings can be protected inside an offshore company. Therefore, eliminate liability plus pay no income tax on earnings. Additionally, an offshore company can serve as the trustee in an offshore trust, while you retain control as a director.
- Offshore Trust – Place your assets inside an offshore trust. Tort lawyers, divorce attorneys, creditors and even the IRS cannot pierce the veil of offshore trust secrecy. Indeed, they know better than to even try it.
Protection is absolute and these strategies have been successfully tested in the courts by the strongest plaintiffs imaginable, including the IRS.
Tax Obstacles for American Citizens
How can you eliminate your federal income taxes? Indeed, onshore tax strategies for American citizens offer limited protection at best and at worst can land you in prison. The fact is that you need to move completely offshore to be in the clear. The unfortunate reality of the situation is that you cannot have your cake and eat it too.
Therefore, domestic trusts or onshore limited liability companies will remain as a partial solution for US residents. However, for those who retain their US citizenship, even an offshore plan will ultimately fail in the end.
To reiterate, as long as you remain an American citizen, no tax residency scheme, new citizenship, offshore trust or offshore company can hide you indefinitely from the US government.
Indeed, there are many US tax gurus out there selling unworkable solutions. It is a disaster waiting to happen. Someone has got to tell you what you need to hear. So here it is:
The United States taxes all Americans and permanent residents on all of their global income sources regardless of where you live. For you, there is no escape from US income tax. Even if you got away with it in the past, FATCA and FBAR will get you.Edwin Morgan, iGlobal
Legal Tax Strategies vs Tax Evasion
Skipping out on your income tax that is unquestionably attributed to you is tax evasion not a low tax strategy. It is illegal and you can face insurmountable fines and even imprisonment. As long as you remain a US citizen, it does not matter how many foreign passports or foreign residencies you hold, you must be accountable to the US government.
In order to take yourself and your assets off the radar screen of the US government, you must consider second citizenship and ultimately renunciation as the only workable solution. After renunciation, the world will open up to you. It is a new dawn.
This is the convenient truth for all Americans, especially expatiates who have already established themselves offshore. Is retaining American citizenship really worth the cost of compliance? Or what about the stigma of using your American passport?
Yes, taking the necessary steps for expatriation involves difficult decisions. However, you have nothing to fear but fear itself. Indeed, we have walked in your shores on the path to global citizenship. Additionally, thousands of Americans legally renounce their American citizenship every year. It is 100% legal and very effective.
Thousands of US Expatriates Have Renounced, Pay No Income Tax
Research conducted by Paul R. Organ at the University of Michigan sheds light on recent renunciation trends of US citizens. He concludes that it is not the super wealthy who are fleeing the US. Instead, it is mostly the mass affluent, average citizens that are choosing to renounce US citizenship.
To start, the strong majority Americans who have renounced over the last 13 years reported a net worth of less US$1 million on their final tax filings. Indeed, Mr. Organ’s analysis concludes that over 35,000 US citizens renounced citizenship with a combined net worth of at least US$48 billion.
Source: Citizenship and taxes: Evaluating the effects of the U.S. tax system on individuals’ citizenship decisions
You need not shed any tears for the US government. In fact, they will not even notice that you are gone. Indeed, the line of legal immigrants eager to take your place is vast. As a result, tax revenues from incoming US immigrants vastly outweighs the amount lost through expatriation of American citizens which from 1998-2018 only amounts to a paltry $614 million.
To put things in proper perspective, Mr. Organ brings to light the fact that between 1998 and 2018, the number of incoming naturalizations exceeded 400,000 in every year. This is in stark contrast with roughly a total of 40,000 renunciations between 1998 and 2018.
Source: US Department of Homeland Security, 2019 Yearbook of Immigration Statistics
As a result, we can totally negate the false assumption that offshore tax strategies are only for the super wealthy. It also sheds light on the modest financial requirements for permanent expatriation, especially for those with a steady offshore income source. Indeed, you have nothing to lose by canceling your US passport and everything to gain.
Start Today, Implement the Best Offshore Strategy
My partners and I have 35+ years of experience working with the Caribbean citizenship programs plus Vanuatu. As a result, we are well integrated with the local real estate developers and government agencies. Implementation of the world’s most effective offshore asset protection strategies is surprisingly easy to accomplish.
We will guide your choice of investment to qualify for the best second citizenship program. Plus, we are also able to assist you in making the best choice of offshore tax residency. You can choose from a wide selection of countries.
If it is prudent to fortify your strategy with an LLC or offshore trust, rest assured that our legal team can guide you through. Indeed, our legal US tax strategies ultimately pay for themselves in the end, many times over.
Email: [email protected]
The Roman philosopher Seneca said that “It is difficult if you dare, but if you dare it is not so difficult”. Prudent Americans have got to make the difficult choice today, for a prosperous tomorrow.
The sun is setting on US dollar hegemony, run away fiscal deficits and war crimes abound. For you, the time is now to escape from the US, renunciation of US citizenship opens the doors to the world.
“It is difficult if you dare, but if you dare it is not so difficult”.Seneca
Benefits include your investment yield, income tax savings, elimination of inheritance tax, capital gains and your international income tax. In the end you come out way ahead financially, morally and psychologically.