Are Taxes A Reason To Go Offshore?

The stage is set.

Tonight, Trump and Biden face off in the first of two slated debates.

Taxes look set to feature high on the agenda.

Trump wants to extend all the Tax Cuts and Jobs Act of 2017 provisions which are set to expire next year. Depending on who you listen to, that could cost as much as $5 trillion. He also wants to end taxes on tips, cut corporate taxes, and there’s even been talk of scrapping the federal income tax.

Biden plans to extend tax breaks for taxpayers who make less than $400,000 and go after corporations and the wealthy in a bid to cut deficits by $3 trillion over the coming decade. Given the national debt is currently at $34 trillion—a mind-boggling $6 trillion more than America’s GDP—that’s not going to make much of a dent.

Then there’s the matter of the wealth tax.

Many Democrats want wealth, not just income, to be taxed. Meaning those who earn from real estate, stocks, bonds, and other assets will pay more in taxes.

Last week, in the case of Moore v. U.S., a one-time tax on unrealized income from a foreign investment for a Washington state couple was upheld by a 7-2 vote in the Supreme Court… but questions remain about whether a wealth tax is constitutional. So, the ball is passed back to Congress who’ll fight over it another day.

Now I’ve always recommended against Americans using taxes as a reason to go offshore… because, while Americans have been able to (and still can) enjoy some tax breaks by becoming resident of another country, the bottom line reality is that the tax benefits for Americans overseas have always been limited.

That said, with national debt in the U.S. ticking up by about $1 trillion every 100 days or so, it’s pretty clear someone is going to have to start clearing the tab. And we all know the number one way the government gets its money is through taxes.

Last year the Fed collected $4.44 trillion in revenue from taxpayers and spent $6.13 trillion. The math ain’t mathing. So, whatever happens, whoever gets into The White House this fall, chances are, they’re going to look to you to help keep the lights on.

That’s why it’s so crucial for you to start diversifying outside of home borders…

Plant your personal flag in another country, where you can spend time if life becomes unbearable for you back home…

Put your money someplace safe, immune to Wall Street, lawyers, and money-grabbers…

And get the inside track on investments with locked-in returns that will profit regardless of U.S. politics…

I’ve spent the past 30 years living, working, and investing overseas. In that time I’ve made connections and learned strategies and techniques that have enabled me to protect and grow my wealth and be immune to the fallout from inept politicians, greedy bankers, and decades of poor economic policy back home.

I’d like to help you do the same.

This October, two dozen of my closest and most trusted contacts will join me in Portugal for a very special event…

There, behind closed doors in the 900-year-old city of Porto, we’ll share ways to drastically and of course, legally, reduce your tax obligations or even live near-tax-free… uncover ways to profit from the best international real estate opportunities… reveal the world’s best havens for bank privacy and legal offshore structures… lift the lid on the easiest places to obtain offshore residency… and a whole lot more besides.

To ensure everyone who makes the trip gets the time and attention they need to formulate their own offshoring plan, I have to limit numbers in the room to 100.

I hope you’ll be among them.

Stay diversified,

Lief Simon

Editor, Offshore Living Letter

P.S. My Offshore Wealth Summit will give you the insights you need to set up your affairs so that your assets and legacy will be protected come what may.

Over three days, in a private setting, you’ll connect with the world’s foremost experts on protecting and building wealth and come away with your personalized roadmap to offshoring success.

If you sign up today you’ll secure a free VIP upgrade. Full details here.