Allocated vs Unallocated Gold
In the last few months, I’ve received dozens of inquiries from readers who wish to convert their “unallocated†holdings of gold or precious metals to “allocated†form.
Congress and the IRS Tell 500,000 Foreign Financial Institutions to “Get Lost”
In March, 2010 President Obama signed the Foreign Account Tax Compliance Act (FATCA) , the largest-ever expansion of offshore disclosure requirements in U.S. history.
Expatriating and IRS Form 8854
I've written widely in this blog about the subject of expatriation. From a U.S. perspective, that's the act of giving up your U.S. citizenship and passport, and setting up legal residence outside the United States.
Where to Find Quality Medical Care in the Caribbean
After I expatriated and moved to the Caribbean, I had to confront an important issue: health care. I quickly discovered that while prices for health care services are much lower than USA (typically 50% less), the quality of care varies greatly.
Will Your Offshore Jurisdiction Seize Your Assets?
High-tax countries like the United States aren't the only ones experiencing a budget crisis. Dozens of low-tax jurisdictions are, too. Like the USA, they're scrambling to raise revenues, any way they can. And in some of them, your wealth is in the crosshairs.
Could Your Offshore Jurisdiction Go Bankrupt?
Offshore centers now face a perfect financial storm. In more prosperous times, revenues from the offshore sector, along with tourism, helped fuel these countries' economies. Their governments emulated more developed nations by borrowing heavily to build up their infrastructure. They also bought votes with social programs and bloated government payrolls.
Buying Property and Casualty Insurance Abroad
Those readers living in the United States take property and casualty insurance for granted. But if you move abroad, you’ll quickly discover that coverage on your property may not be available. If it is available, it may be more expensive and contain more exclusions than a U.S. policy.
Expatriation, Social Security, Pensions, Medicare
Expatriation—giving up U.S. residence and nationality, including your U.S. passport—is an admittedly radical step. But it's the only way that a U.S. citizen or long-term resident can permanently disconnect from future tax obligations. (For background on this and other reasons why you might want to expatriate, click here.)
Congress Enacts Obama’s Anti-Offshore Jobs Bill
The Obama administration continues to work diligently to crack down further on U.S. citizens and residents who invest offshore. One of those efforts has now come to fruition.Â
Counterfeit Gold: How to Protect Yourself
In the last few months, I've noted increasing interest from clients wanting to take physical delivery of their precious metals holdings. This appears to be a worldwide trend. Colleagues in Switzerland, Hong Kong, and Singapore have informed me that many of the wealthiest investors in Asia and Europe are now demanding delivery of their gold holdings from bonded warehouses in London, Chicago, and elsewhere.
How Babies are Like Sex Offenders
Your DNA is your genetic blueprint. It's unique to you and your DNA profile is the equivalent of a bar code stamped on your forehead.
Canadian Customs Wants Your Laptop, Too
U.S. customs authorities have assigned themselves the authority to copy all data on your laptop or other electronic device when you cross a U.S. border. I wrote about this policy in an earlier post.
Yahoo, Verizon: Our Spy Capabilities Would Shock You
Every now and then, ordinary citizens can glimpse the breadth and depth of the surveillance infrastructure erect to monitor us. In the last few days, Americans have had such an opportunity, thanks to privacy researcher Christopher Soghoian, a doctoral student at Indiana University.
Tattoo Parlor Surveillance: Signs of Suspicious Activity
Thinking about getting a tattoo? If you are, better not pay cash! If you do, the FBI has informed tattoo parlors in Los Angeles, and perhaps other cities, that you might be a terrorist.
Expatriation Examples: What It’s Really Like
There are a lot more former U.S. citizens than there once were. Americans fed up with paying tax—and their government—are voting with their feet. And they're doing it in much greater numbers than ever before.
Austria Capitulates on Banking Secrecy
On September 1, Austria's parliament approved a law to ease banking secrecy in the last EU country on the Organization for Economic Co-operation and Development (OECD) "gray list" of tax havens. It was a challenge to assemble a two-thirds majority necessary to weaken the law, but Austria's leaders persuaded legislators of the importance for Austria to get off the OECD's odious list.
DOJ: The National Asset Forfeiture Strategic Plan
The abominable practice of "civil forfeiture" is a legal procedure in which prosecutors can seize your property without accusing you—much less convicting you—of any crime.
Austria Shutters Banking System for U.S. Residents…but the Door Remains Cracked
I arrived yesterday afternoon, May 18, in Vienna for a series of meetings with Austrian banks, lawyers, and financial advisors.
Get Ready for Exchange Controls! [Part III]
Get Ready for Exchange Controls! [Part II]
In my most recent blog entry, I described how exchange controls—laws restricting private ownership of, or transactions in, foreign currencies and gold—are spreading from third world countries to the industrialized world.
Get Ready for Exchange Controls! [Part I]
Exchange controls—laws restricting private ownership of, or transactions in, foreign currencies and gold—are blossoming throughout the world. Residents of Cuba, Malaysia, Myanmar, Venezuela, and Zimbabwe have long dealt with these restrictions.
So What if 80% of Big U.S. Corporations Have Tax Haven Subsidiaries? [Part II]
In my last post, I described how Senators Carl Levin (D-Mich.) and Byron Dorgan (D-N.D.), along with the Obama administration, are misinterpreting a report published by the U.S. General Accountability Office to advance their anti-offshore agenda.
So What if 80% of Big U.S. Corporations Have Tax Haven Subsidiaries? [Part I]
U.S. Congressional blowhards are using a recent report from the Government Accountability Office to push for even harsher sanctions against low-tax jurisdictions, and the U.S. companies that use them.
US Military Involvement in Civil Asset Forfeiture
Asset forfeiture is a hugely profitable enterprise for city, county, and state governments, and the federal government as well.
Why Wasn’t Elliot Spitzer Prosecuted for Money Laundering?
About a year ago, former New York governor Elliot Spitzer made a series of cash withdrawals from his own bank account. The total amount he withdrew came to more than $15,000.
Attorney-Client Privilege: What You Need to Know
When you retain a licensed attorney, you generally have the right to refuse to disclose all "confidential communications" between you and your attorney. You also have the right to prevent others from disclosing confidential communications. In U.S. law, this is known as the attorney-client privilege.
Are You Ready for the e-PATRIOT Act?
If you've ever wondered how Congress could possible enact legislation as complex as the USA PATRIOT Act less than 30 days after the events of Sept. 11, 2001, you're not alone.
Expect a Bureaucratic Nightmare when You Renew Your Driver’s License
Back in 2005, our Congressional kleptocrats snuck an obscure provision into a military spending bill that, in effect, creates the first national ID card in U.S. history.
The US Exit Tax: Expatriation and Taxes
The United States is the only major country that imposes tax on a citizen's worldwide income, no matter where that citizen lives.
Diplomatic Passport Scam Exposed
A diplomatic passport is the "Nirvana" of international travel. Once you receive diplomatic status from a recognized government, you may be eligible to enjoy the privileges granted diplomats under international treaty.