According to a widely acclaimed article published by one of the top investment research firms in the United States, Stansberry & Associates, Americans may take advantage of four different investment assets without having to report them to the U.S. government. The article, “The Four Investment Assets You Do Not Have to Report to the U.S. Government,” details how these assets can be made non-reportable and can be downloaded in its entirety here.
Political experts are predicting that taxes will keep getting higher as the federal government begins new social initiatives and pours funds into old initiatives that are not working as well as they should be. However, it is not too late to push your own taxes down to a reasonable level. By using offshore financial entities, individuals may invest in four different assets without having to pay federal taxes on them, and the money you save can be used for the protection of your family in this uncertain financial climate.
In order to increase the value of investment assets and to obtain maximum benefit from them, many people are moving overseas where the cost of living is low and the taxes are even lower. However, it is still possible to enjoy the benefits of living in the midst of the world’s most powerful economy without paying an arm and a leg in taxes. The following four investment assets can be enjoyed tax free, and it doesn’t take much effort to begin investing in them.
1. Foreign Bank Accounts
Foreign bank accounts with balances less than $10,000 do not have to be reported to the federal government. As a word of caution, the $10,000 limit is the aggregate value of all foreign accounts, so you cannot open multiple accounts totalling more than this. However, nothing prevents you from opening accounts in the names of your family members.
2. Foreign Real Estate
Real estate is one of the best ways to hold an asset overseas without having to pay taxes on it, but the problem is finding a country that allows foreigners to invest in property. Two such countries are Panama and Costa Rica.
3. Offshore Trusts
Several types of offshore trusts can protect assets from being taxed and can generate additional income at the same time. Among the top offshore trusts are those used to hold life insurance policies.
4. Precious Metals
Precious metals and precious metal certificates held in foreign accounts or foreign safety deposit boxes do not have to be reported like cash does. Converting cash to precious metals is simple, and they are simple to liquidate in times of need.