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[gdfuller]

First off let me say, this is a great forum. I have learned a great deal from everyone so far. My question is. Is it possible to avoid taxes in the U.S. by using a broker such as ACM which is based in Switzerland, if so how then would you get the money out of your account as needed? I would love to hear how other traders are positioning themselves as far as lowering their tax implications.
Thanks, Gary

[ycomp]

Sure if you're not an American Citizen... then all you have to do is move out of the U.S., that's my understanding. Of course I might be wrong... so do more research, don't trust what I say.. just keep it in mind. To know better what questions to ask.

many Swiss brokers write "there are no capital gains taxes in Switzerland". The operative phrase being "in Switzerland"... almost every developed country taxes you on your worldwide income. So it doesn't matter to the IRS if Switzerland has no capital gains taxes.

also you need a notarized copy of your passport I think to open an account with ACM. Even if it is a company account (I think).

and I was reading on one Swiss Brokers page that to combat money laundering, money withdrawn can only be sent to the bank account from which you originally wired money to them from. I think this may have been ACM, I am not sure.

Originally Posted by gdfuller

First off let me say, this is a great forum. I have learned a great deal from everyone so far. My question is. Is it possible to avoid taxes in the U.S. by using a broker such as ACM which is based in Switzerland, if so how then would you get the money out of your account as needed? I would love to hear how other traders are positioning themselves as far as lowering their tax implications.
Thanks, Gary

[dollars]

Originally Posted by gdfuller

First off let me say, this is a great forum. I have learned a great deal from everyone so far. My question is. Is it possible to avoid taxes in the U.S. by using a broker such as ACM which is based in Switzerland, if so how then would you get the money out of your account as needed? I would love to hear how other traders are positioning themselves as far as lowering their tax implications.
Thanks, Gary

If you are a US citizen you will have to pay tax, even in Switzerland. The IRS will track you down.

Depending on your capital for trading it is better to trade through a bank, such as Deutsche, UBS, Citibank or HSBC, as a corporate entity registered off shore, where you are a employee and wthdraw the min and pay income tax through that set up.

You could use Cyprus, it has the lowest tax in the world @ 10% and you could write off alot of expenses and pay even lower yr end.