@ccunning to No Stupid Questions • 1 month agoHow can a US citizen invest outside the reach of the federal government?message-square75arrow-up183arrow-down18
arrow-up175arrow-down1message-squareHow can a US citizen invest outside the reach of the federal government?@ccunning to No Stupid Questions • 1 month agomessage-square75
minus-square@[email protected]linkfedilink5•1 month agothen all you have to do is file the FBAR and pay your taxes every year and you can invest anywhere you want, however much you want.
minus-square@ccunningOPlink0•1 month agoHow so? You think reporting accounts to the IRS keeps the US from seizing/ freezing accounts? Not following your train of thought
minus-square@gibmiserlink8•1 month agoI assume you are afraid of a political act causing this and not because of a debt or criminal act? I don’t think the other poster gets that
minus-square@[email protected]linkfedilink4•edit-21 month agoYes, reporting foreign income and paying taxes is exactly what keeps the US from seizing and freezing accounts. you said you don’t want to avoid paying taxes. If you report your accounts and investment income and pay taxes, then you’re in no danger of the US government seizing or freezing your accounts.
minus-square@ccunningOPlink1•1 month agoI don’t know if you’ve been following the news but I’d say that’s wishful thinking at this point.
minus-square@[email protected]linkfedilink3•1 month agoi have. you want to be part of the US tax system while being “out of reach of the federal government”, two aims you should understand are incompatible.
then all you have to do is file the FBAR and pay your taxes every year and you can invest anywhere you want, however much you want.
How so? You think reporting accounts to the IRS keeps the US from seizing/ freezing accounts?
Not following your train of thought
I assume you are afraid of a political act causing this and not because of a debt or criminal act? I don’t think the other poster gets that
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Yes, reporting foreign income and paying taxes is exactly what keeps the US from seizing and freezing accounts.
you said you don’t want to avoid paying taxes.
If you report your accounts and investment income and pay taxes, then you’re in no danger of the US government seizing or freezing your accounts.
I don’t know if you’ve been following the news but I’d say that’s wishful thinking at this point.
i have.
you want to be part of the US tax system while being “out of reach of the federal government”, two aims you should understand are incompatible.