Taxes....the Rich Mans Way

Taxes....the Rich Mans Way

Posted in the Pittsford Forum

CapriceClassic

“Reality is settling in...”

Since: Nov 08

Stop sweating the small stuff.

#1 Apr 9, 2013
http://www.nytimes.com/2013/04/05/world/europ...

And, it seems safe to say, they — and thousands of others in Europe and far beyond, in places like Mongolia — are suddenly very anxious after the leak of 2.5 million files detailing the offshore bank accounts and shell companies of wealthy individuals and tax-averse companies.

“There will be people all over the world today who are now scared witless,” said Richard Murphy, research director for Tax Justice Network, a British-based organization that has long campaigned to end the secrecy that surrounds assets held in offshore havens. The leaked files include the names of 4,000 Americans, celebrities as well as more mundane doctors and dentists.
BillyBob

Rochester, NY

#2 Apr 9, 2013
CapriceClassic wrote:
“There will be people all over the world today who are now scared witless,” said Richard Murphy, research director for Tax Justice Network, a British-based organization that has long campaigned to end the secrecy that surrounds assets held in offshore havens. The leaked files include the names of 4,000 Americans, celebrities as well as more mundane doctors and dentists.
First, no one is too concerned about the release of names and trust information, because most are interrelated to corporations with bogus directors - so that it will be difficult, if not impossible, to determine U.S. tax liability. This is not a major deal.

Secondly, in my opinion, no one will get hurt by this, because it is acceptable banking under U.S. tax regulations. However, there will be a alibi practice meeting in Pittsford (TBA) for the 50-60% of residents that are caught up in this unfortunate violation of secrecy.

CapriceClassic

“Reality is settling in...”

Since: Nov 08

Stop sweating the small stuff.

#3 Apr 9, 2013
BillyBob wrote:
<quoted text>
First, no one is too concerned about the release of names and trust information, because most are interrelated to corporations with bogus directors - so that it will be difficult, if not impossible, to determine U.S. tax liability. This is not a major deal.
Secondly, in my opinion, no one will get hurt by this, because it is acceptable banking under U.S. tax regulations. However, there will be a alibi practice meeting in Pittsford (TBA) for the 50-60% of residents that are caught up in this unfortunate violation of secrecy.
Do I detect some paranoia?
Have an account on an island somewhere ?
BillyBob

Rochester, NY

#4 Apr 10, 2013
CapriceClassic wrote:
<quoted text>
Do I detect some paranoia?
Have an account on an island somewhere ?
Absolutely not, no offshore accounts here. I think it is despicable and abhorent that U.S. citizens would avoid paying their fair share. I'm outraged, I tell you, outraged (I've be practicing). The only reason we go to Nassau four times a year is strictly for vacation. We find a two day vacation quarterly quite refreshing.
Sue Higgenbotham

Victor, NY

#5 Apr 10, 2013

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