If so, then you understand the principle of legally lowering your overall tax burden.
Just as you can move yourself to a state that doesn’t charge income tax, you can move your assets to (if you’re doing some estate planning), or incorporate a bona fide business in, a foreign jurisdiction that doesn’t tax you to the hilt.
This is called going offshore, and it’s a legal, legitimate way of saving you a huge amount of money in the form of a substantially lower tax burden.
In this alert, we’ll go over some of the better zero-tax (and low-tax, for those who prefer it) jurisdictions out there. And stay tuned for an upcoming alert and video walking you through the exact questions you’ll need to ask yourself if you want to move a company (or assets) abroad.
Have you ever bought anything in a duty-free zone? Or crossed a state line to save on sales tax when purchasing a car? If you live in a high-tax state such as California or New York, have you ever contemplated pulling up stakes for Florida or Texas… because those two don’t levy a state income…