-----BEGIN PGP SIGNED MESSAGE----- Black Unicorn wrote:
In this case the people paying the offshore company for Mr. May's services are also subject to reporting requirements and a 30% withholding tax for which they will be held liable.
Nobody pays offshore for Mr. May. They pay a domestic corporation for his services. The corporation pays Mr. May a sufficient taxable salary for his domestic expenses. Anything above that (i.e. money that Mr. May don't need right now) is paid to the offshore entity as (for instance) deductible license fees. The payment should probably go to a jurisdiction with a double taxation agreement with the US, like Holland or Ireland. In Ireland it's easy to setup a tax free corporation that sends all it's income to an offshore trust, where the money stays until Mr. May needs them.
This adds the requirement that the individuals or corporations receiving Mr. May's service be involved in this conspiracy. If they could have been, why do you need the offshore connection? Why not just conspire with them to pay Mr. May in cash and not report it?
They just deal with the vice president of a typical domestic consulting corporation. That the CEO of the company is an alcoholic living on a park bench (for the ultra cheep setup) is nobody's business. He's on permanent vacation for all they care.
If your above scheme is intended merely to conceal funds it is a fairly poor example as it depends on the secrecy of each and every 'employee' of the company.
Only one individual and he's too drunk to remember anything.
Continue your participation in such a plan. I will send you cigs.
Thanks, but I can afford Cuban cigars. I'm selling setup's like the above for a very nice fee. And this is the kiddie version of serious tax planning. After all, Mr.May would still pay taxes on his domestic spending. X -----BEGIN PGP SIGNATURE----- Version: 2.6.3i Charset: noconv iQEUAwUBMZJGdFtwWVJrMFYlAQFcAgf2JtuGoc+NE+rl+ZJV5B8PBg2N+u8gpRvt biX+y3asBIkynniRRga9kS00601AHgRQlEkH46BY179PhUNdVV+Q4cv3h4TQ3azl dENuanxLE1xJZnROfkbxNDyg71yogaUGC8dMlQs2vRZ31OdlPnz5E0WafPX4TDNy jI6FZsdYQeqLcFH6xzDS15pLAvh9NXAklzHBGLafuzzDQaVBO9GHRf/MCU5FzXJE KosQ3P2n/qb73kbFOxu7mebR3Emf3sAYRfmlqpe8bHM47Sy34hbPutvzMMIrrF+t dPQHbHDWGgaoEQ6mDhOdqmlZSjdObNmMcll4snoaiU02HsYNo0rc =+nH5 -----END PGP SIGNATURE-----