There is a great deal of talk about FXIG closing to new investors/new money. Has anybody been fortunate enough to have been a part of something like this? What takes place? Do we keep our principle and just pull out the profit every month? I'd be interested to hear what the group has to say. I shot an email to FXIG but didnt get a response.
If you are already an investor you will just continue as you have in the past
you can invest more and withdrawal they just won't accept anymore investors.
I shot an email to FXIG regarding the tax issue and they said they do not provide any tax forms. I've heard of others discussing IBC's and whatnot but in the end you may waste more time trying to dodge uncle Sam than just paying him. My tax attorney did explain several vehicles that are available but the were all expensive and complex. Im not at the stage where I need to be thinking of these things. He did say to keep documentation of every withdraw. Hope this helped answer your question.
What are the tax vehicles your tax attorney mentioned?
I shot an email to FXIG regarding the tax issue and they said they do not provide any tax forms. I've heard of others discussing IBC's and whatnot but in the end you may waste more time trying to dodge uncle Sam than just paying him. My tax attorney did explain several vehicles that are available but the were all expensive and complex. Im not at the stage where I need to be thinking of these things. He did say to keep documentation of every withdraw. Hope this helped answer your question.
For all those who are dodging uncle Sam or thinking about it,
I recommend that you carefully check out the website listed
below.
I shot an email to FXIG regarding the tax issue and they said they do not provide any tax forms. I've heard of others discussing IBC's and whatnot but in the end you may waste more time trying to dodge uncle Sam than just paying him. My tax attorney did explain several vehicles that are available but the were all expensive and complex. Im not at the stage where I need to be thinking of these things. He did say to keep documentation of every withdraw. Hope this helped answer your question.
If you are young, just let it compound year after year. If you're old, head for Panama.
If you are young, just let it compound year after year. If you're old, head for Panama.
You cannot let FXIG compound year after year if you are a US citizen. As a US citizen, you are taxable on your worldwide income and that includes investments offshore. You owe tax on your yearly profits which must be reported and paid each year. You can compund what is left after you pay your taxes each year.
Furthermore, I asked a tax attorney if the following structure could be used to eliminate/lower the taxes I would pay or delay paying taxes until I bring in the money.
The structure:
1. Register an offshore company to hold all the investments;
2. Have a domestic management company that the offshore company pays to manage it;
3. The offshore co. is owned by a Panamanian-based foundation.
4. Funds are brought in to the US through the domestic management co. and taxes are paid.
Here is what the tax attorney told me:
"Due to the Controlled Foreign Corporation rules, using a foreign entity (even
with a Panama-based Foundation) you are still the beneficial owner of the offshore investment, and the IRS will deem a dividend of all income generated by the structure to you each year, thus you gain no tax advantage by using this structure. Some people rely on Panama Foundations to hide their offshore operations however it is not a legal means of delaying or eliminating US taxes."
You cannot let FXIG compound year after year if you are a US citizen. As a US citizen, you are taxable on your worldwide income and that includes investments offshore. You owe tax on your yearly profits which must be reported and paid each year. You can compund what is left after you pay your taxes each year.
Furthermore, I asked a tax attorney if the following structure could be used to eliminate/lower the taxes I would pay or delay paying taxes until I bring in the money.
The structure:
1. Register an offshore company to hold all the investments;
2. Have a domestic management company that the offshore company pays to manage it;
3. The offshore co. is owned by a Panamanian-based foundation.
4. Funds are brought in to the US through the domestic management co. and taxes are paid.
Here is what the tax attorney told me:
"Due to the Controlled Foreign Corporation rules, using a foreign entity (even
with a Panama-based Foundation) you are still the beneficial owner of the offshore investment, and the IRS will deem a dividend of all income generated by the structure to you each year, thus you gain no tax advantage by using this structure. Some people rely on Panama Foundations to hide their offshore operations however it is not a legal means of delaying or eliminating US taxes."
Hope this is helpful.
Thank you for discussing a touchy subject of taxes on compounded investments.
I am not completely understand why US citizen should pay taxes on his/her investments annually. Let us compare hyip investments with our investments in mutual funds: they may sit in the mutual funds for years. If I put money in FXIG and compound inside the account without withdrawal, it is very much similar to mutual funds.
Ok, now I remember: mutual funds send me year end reports with taxable earning I need to pay for.
Where is the solution?
I certainly may pay taxes by Quarters, but if the compounding is applied on a daily, weekly, monthly basis?
You cannot let FXIG compound year after year if you are a US citizen. As a US citizen, you are taxable on your worldwide income and that includes investments offshore. You owe tax on your yearly profits which must be reported and paid each year. You can compund what is left after you pay your taxes each year.
Furthermore, I asked a tax attorney if the following structure could be used to eliminate/lower the taxes I would pay or delay paying taxes until I bring in the money.
The structure:
1. Register an offshore company to hold all the investments;
2. Have a domestic management company that the offshore company pays to manage it;
3. The offshore co. is owned by a Panamanian-based foundation.
4. Funds are brought in to the US through the domestic management co. and taxes are paid.
Here is what the tax attorney told me:
"Due to the Controlled Foreign Corporation rules, using a foreign entity (even
with a Panama-based Foundation) you are still the beneficial owner of the offshore investment, and the IRS will deem a dividend of all income generated by the structure to you each year, thus you gain no tax advantage by using this structure. Some people rely on Panama Foundations to hide their offshore operations however it is not a legal means of delaying or eliminating US taxes."
Hope this is helpful.
Just a small clarification , dividends are not taxed if they are reinvested (compunding) you only pay taxes after you withdrawal or stop the compounding.
If anyone should need tax help with your offshore accounts I suggest signing up with udachufund then ask one of the administrators about
setting up a trust, it is very inexpensive and convenient.
You need to be an active member of the fund but once you are a member and have setup a trust you can use it for other investments as well.
It is not as hard or expensive as you may think
Clicks money, before you invest, think about diversification rather than investing a huge sum into one company.
Here are the best to diversify through:
-*- Feederfund
-*- ADC Services (link in my signature) - 1.5% daily for life (compounding monthly)
-*- CF Financial - 1.5% weekly
-*- SPS Income - 3% daily x 50 days, 50% ROI
-*- New England Investments - 120% after 6 days to 170% after 10 days.
My personal advice to you would be not to look into the companies offering over 3 percent a day, they are more than likely a scam. If you are investing a large amount and you invest in the sites above, you can build a large sum, but if you invest in a higher yield company and they bomb, then you have $0.
Clicks money, before you invest, think about diversification rather than investing a huge sum into one company.
Here are the best to diversify through:
-*- Feederfund
-*- ADC Services (link in my signature) - 1.5% daily for life (compounding monthly)
-*- CF Financial - 1.5% weekly
-*- SPS Income - 3% daily x 50 days, 50% ROI
-*- New England Investments - 120% after 6 days to 170% after 10 days.
My personal advice to you would be not to look into the companies offering over 3 percent a day, they are more than likely a scam. If you are investing a large amount and you invest in the sites above, you can build a large sum, but if you invest in a higher yield company and they bomb, then you have $0.
I think that you folks are aiming a little low. You are too used to HYIP/PONZI'S. Check out the urls below.
So are you saying that winning everyday without any losses for a straight 4 years is possible? I know it's impossible but just so that I know how you think.
Even good traders don't win everyday, they lose one day and the next day they will make up for it.
Re: FXIG - FXIG.com
Re: FXIG - FXIG.com
Re: FXIG - FXIG.com
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