The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

OFF-TOPIC The New US Tax Plan and Your New 50% Biz Partner (the US Gov)

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,456
5,254
1,314
Latvia
I doubt Wesley Snipes will be with you.
It's funny you mention Wesley Snipes. This is exactly how we are all conditioned to believe in the omnipotence of the govt.

They go after high profile targets because they make great news pieces and perfect scare tactics.

In fact, 10s of millions of people opt out of the system each year with no negative consequences.

There are many legal ways to go about it.

Leaving your country of origin is one of the most effective strategies.

You can arbitrage your residency, tax home, company jurisdiction, etc once you leave your home country.

The problem is, we are also brainwashed into believing this is impossible or difficult, or we are incentivized with cheap mortgages and interest expense write-offs to keep up location dependent.

Once you break free of the mental chains, you are free to vote with your feet and starve the beast.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,456
5,254
1,314
Latvia
Making the GILTI tax way more burdensome for global American businesses.
This one change under the Trumpster has totally f*cked many of my clients and we had to do a lot of business restructuring.

You gotta love the govts acronyms though, at least they have a sense of humor.
 

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,456
5,254
1,314
Latvia
I would leave 100%.

I wanted to visit the USA one day as I thought it would be freaking awesome.

I haven't thought that for a couple years now.

Now, I dont want to go at all. Even to visit.

I left about 12 years ago. Best decision ever.

I've lived in several countries and this year I've spent most of my time in Mexico.

It's funny how Mexico is propagandized in America as dangerous with shitty healthcare.

Of course, in some places Mexico can be dangerous, just like places in the US.

But I've found the healthcare to be infinitely better at a fraction of the cost of that in the US. In fact, if I were in the US and needed a doctor, I'd get on a plane and fly to Mexico at this point.
 

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,456
5,254
1,314
Latvia
I expect cash to disappear soon as well. Anything the authoritarians can't control, monitor, or audit is a risk.
CBDC's (central bank digital currency) will be the end of physical cash. Luckily they will also be the catalyst to move all the big money into PDC (private digital currency).

We are living in the transitional phase to a new form of money. Once crypto becomes the dominate form of money, many of the govt control issues are moot.
 

Timmy C

I Will Not Stop!
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jun 12, 2018
1,891
3,934
878
Melbourne, Australia
CBDC's (central bank digital currency) will be the end of physical cash. Luckily they will also be the catalyst to move all the big money into PDC (private digital currency).

We are living in the transitional phase to a new form of money. Once crypto becomes the dominate form of money, many of the govt control issues are moot.
100%
 

redshift

Bronze Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 4, 2018
97
337
167
In fact, 10s of millions of people opt out of the system each year with no negative consequences.

There are many legal ways to go about it.

Leaving your country of origin is one of the most effective strategies.

You can arbitrage your residency, tax home, company jurisdiction, etc once you leave your home country.

The problem is, we are also brainwashed into believing this is impossible or difficult, or we are incentivized with cheap mortgages and interest expense write-offs to keep up location dependent.

Once you break free of the mental chains, you are free to vote with your feet and starve the beast.

And what if you are American ? Are you suggesting its not difficult to escape the tax net and that its just conditioning ?

Even if you just consider the amount of US paperwork you would have to file / review per year by moving abroad, that already is somewhat of a negative consequence. But surely, despite all of that and some crazy multi country entity setup, you'll still end up owing US taxes if you have a high income.
 

Sponsored Offers

  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
@Fox It's same with me Did both quiz and application but as yet no automatic confirmation, just...
MARKETPLACE 7 Days To Freedom: From Wantrepreneur/Wage Slave To Freelancer
freelance is cool. but to own a business is like freedom. A newsletter I'm subscribed to gave...
Introducing MJ's Personal Unscripted Network, Join Now for FREE!
If you are in IDEA mode, text "IDEA" to the above number. If you are in LAUNCH/START mode, text...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
I have a long weekend off work.. bought your "Start a Freelance Business: Take Back Your...
MARKETPLACE Not sure how to start? This free book will teach you how to build a successful web design business
If there’s one thread I see repeated over and over again on the forum, it goes like this: “I...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Thanks for clearing that up. What do you recommend for those who are still in the process of...



Forum Sponsor

Over 100 Fastlane Students
More Details...

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom