Offshore Bank Account

sales sent to an offshore account

[Crush]

I want to take cash on the internet and put it all into an offshore account to avoid the tax. I guess I am a bad citizen. Anyone doing this?

[rogerd]

Crush, I'd be cautious about this. Bank secrecy laws aren't what they used to be, so your offshore account might get a peek from the IRS (assuming you are US-based) when you least expect it. Also, you'll have the issue of your credit card processor, repatriating funds, etc. I guess you could set up an entire offshore corporation (e.g., in the Caymans). Either way, when you complete your 1040 you'll have to falsely answer the part about offshore holdings, something the IRS is unlikely to forgive if they notice you.

[Crush]

Already got an offshore company and it works a treat but it involves an invoice every month. I am of no fixed abode and spend my time in a few countries. I have empathy for you US citizens, you are dead scared of the taxman and I know what he can do to you.

In any case I was wondering if there is a comapany that specialises in this?

What a great idea for a business! I could get all you guys here to send you money off shore and I could take a percentage on the transactions :)