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I know I personally avoid monitoring by storing my assets in trusts with formal equity in foreign (I'm in Canada) LLC's that manage said assets. Myself, I own n
by anonbanker 13y ago
I know I personally avoid monitoring by storing my assets in trusts with formal equity in foreign (I'm in Canada) LLC's that manage said assets. Myself, I own no property, I'm legally homeless [1], and one of my LLC's gets a tax credit for owning a homeless shelter. I strongly argue to anyone around me that If you owe taxes, you should pay them. I don't tell them that you can avoid owing taxes, and it's not considered tax evasion.
Bitcoin makes a lot of this even more complex, and as more people start using/trusting it for larger transactions, it'll be quite difficult to know who actually owns what. I might not even need half my loopholes anymore.
1. just like this guy: http://blogs.wsj.com/wealth/2008/05/19/the-homeless-billionaire/ http://blogs.wsj.com/wealth/2008/05/19/the-homeless-billiona...