Money is not meant to control people, rather it is meant to be put to work producing more money for you. You cannot build wealth without putting money in its rightful place
You touched on the subject of USA LLC ownership by Canadians, I know quite a few people that have one. Can your expand on what the issues are for them? (they might be unaware and as you state quality cross boarder tax planning providers are limited in numbers.
yes foreigners are non resident aliens. don't spread the word hehe. The foreigner can be subject ot the risk of the US estate tax though. so one has to be resident of a US estate tax treaty country or sell to avoid that latent risk. This same behavior of 0% capital gains tax happens when one renounces a US citizenship (not being covered expatriate) or a long term green card. Or for what it's worth just leaves the US after a non immigrant visa.
Probably there is no capital gains tax but I am sure that many foreign jusrisdictions would treat the gift as ordinary income and tax it at the date of reception at a much higher rate. Need to pick well the tax residency of the recipient.
1. Can you gift shares in an index fund? 2. Can you gift shares from a US corporation to a Canadian citizen and benefit from this mismatch of tax policy?
I think, it is better to get out of the tax slave system as fast as possible, before we make too much money they can steal/tax. I'm getting close to make it as a day trader, so I'm already planning my escape from Denmark. They can't tax my mind - yet.
The problem with this strategy is that tax-free gifting to a non-US spouse is limited to
Money is not meant to control people, rather it is meant to be put to work producing more money for you. You cannot build wealth without putting money in its rightful place
Much better video! Like the new style 😉
Amazing! Can you do with with an entire trading account? Like, gifting it after buying and selling stocks to 4x your initial money?
Good content and good job. Any coupons towards ur paid consultation?
Question: what happens if you put a crypto in a cold wallet and lose keys. Would that be considered a loss, etc?
Nobody knows about it and you can’t prove you have it …
You touched on the subject of USA LLC ownership by Canadians, I know quite a few people that have one. Can your expand on what the issues are for them? (they might be unaware and as you state quality cross boarder tax planning providers are limited in numbers.
Can you do that for Canada and some zero or low tax jurisdiction?
yes foreigners are non resident aliens. don't spread the word hehe. The foreigner can be subject ot the risk of the US estate tax though. so one has to be resident of a US estate tax treaty country or sell to avoid that latent risk.
This same behavior of 0% capital gains tax happens when one renounces a US citizenship (not being covered expatriate) or a long term green card. Or for what it's worth just leaves the US after a non immigrant visa.
Is there no withholding tax that needs to be paid when selling us shares in a foreign country?
Probably there is no capital gains tax but I am sure that many foreign jusrisdictions would treat the gift as ordinary income and tax it at the date of reception at a much higher rate. Need to pick well the tax residency of the recipient.
Very interesting! does Mexico treat inbound gift capital gains the same way that Canada does?
1. Can you gift shares in an index fund?
2. Can you gift shares from a US corporation to a Canadian citizen and benefit from this mismatch of tax policy?
Can this work for departure tax for someone planning on leaving Canada in future?
Depends on all the circumstances involved. Probably best to reach out and we'll figure out what is the best strategy for your case
I think, it is better to get out of the tax slave system as fast as possible, before we make too much money they can steal/tax.
I'm getting close to make it as a day trader, so I'm already planning my escape from Denmark. They can't tax my mind - yet.
Best is wipe your backside with blue passport... And get another and use offshore structures.. I was in offshore for about 35 years
That’s what people common called tax evasion 😂
Cool, I am in the situation that I don't need to pay tax on capital gains at all. That would mean I can provide a service...
Aboot = Canadian
And Scotland