Michael Plaks
Beware: offshore tax preparation outsourcing
This discussion started today in a Facebook group for tax professionals. According to the thread, this risky practice is getting more and more common among some tax firms looking to cut costs.I realize that people hav...
Elizabeth Conklin
Tax options offshore rental property
We used a HELOC on a rental to construct a beach house in the Dominican Republic. I know for the 2023 year I will need to report rental income overseas under Schedule E, but can I also deduct interest on the US-based...
Luis Martin
Flipping Houses with an offshore LLC.
Would it be risky to open and offshore LLC in order to pay less taxes on the profit made from flipping a house? Is that even possible? Please advice.
Account Closed
Using Offshore Companies for International Investors
In the last few years I have been fortunate to have a number of international (non-US) persons invest in real estate with me.
One of the biggest concerns that international investors have is the tax burden that exis...
David Pimenov
Offshore trust anonymity
Under what circumstances can a u.s. citizen have an offshore trust where the govt cant tax money on the funds inside the trust and at the same time cant look into the origin of such funds as long as a foreign citizen ...
Sei-Jung Park
Non-resident alien wanting to invest in USA
Hi BP,I'm a Korean citizen living in Korea looking to invest in real estate in Washington State (not DC). It looks like forming an LLC is the first step to take, so one can open a bank account and transfer funds. I al...
Marlow Martinez
Off Shore Banking Anyone????
Just wanted to see if anyone has had any success with off shore banking. I've heard some nightmare stories about money being there one day and not the next day. Is they money truly safe??? Are there safegaurds and reg...
Harsh Dangaria
Asset Protection Strategy
Researching various sites (including many posts/forms in BP), books, etc. I have tried creating a blue print for asset protection (see the image). Does it make sense? Did I do something incorrectly? Is it an overkill?...
Marvin Song
Any referrals to CPAs who specialize in offshore investing?
I've been hearing great things about offshore investing specifically in Belize. Does anybody know CPAs who specialize (or has great experience) in offshore investing and dealing with IBC (international business com...
Jaime Kosofsky
Offshore Entities
Does anyone have any experience dealing with offshore companies purchasing properties. I have a party which is an offshore company, owned by a US Citizen which is proposing to purchase a property, but refuses to sign ...