How to Hide Money
For most people, hiding their money means stashing it in a mattress. For wealthy people around the world, the challenge of how to hide your money has become a billion dollar a year business.
Make no mistake; they are coming for your money. What are you going to do about it?
The US government has empowered the IRS with a law named the Foreign Account Tax Compliance Act in 2010, better known as FACTA. This has caused most foreign banks to refuse, deny and downright spurn the business of Americans due to its onerous and Orwellian reporting requirements under threat of a 30% withholding penalty.
And yet, the creditors, litigators, ex-wives and governments are still going to come after your money. What are you going to do about it? “Not much you can do” say most accountants and attorneys.
Despite FACTA and everything else you have heard lately in the news, there are still plenty of legal ways to move your money out of harm’s way. We have four main ways to protect your assets, reduce your taxes and just simply; here is how to hide money.
1. Go Offshore – It is totally legal for you to have money anywhere in the world. Maybe you live out of the country or do business outside the country or own property outside of the country and need an offshore banking account. For all these reasons and more, it is totally legal for you to set up an Asset Protection Trust, International or US LLC, IBC or various other offshore entities to own and manage your affairs. These legal entities off course need a bank account to function.
2. The Shell Game – Owning a Shell company won’t hide your assets from the IRS but it can hide them from litigators, creditors and ex-spouses.
3. In Assets We Trust – Setting up a Trust is more complicated, but usually worth it. Trusts can be used to reduce or eliminate income taxes, hide money and assets and even help transfer assets to heirs tax free.
4. Hired Help – Everything we have mentioned on how to hide money is legal and doable, but not if you do it wrong. Hire a professional and in this business you usually get what you pay for.
Most people at this point have a specific reason for being here, a specific set of circumstances to look for a solution on where to hide money. If you are on the fence about hiding money, here are the top 4 reasons to hide money:
1. Spouse/Ex-wife – She knows you have assets, but doesn’t have an exact accounting…yet. Plan for the worst and hope for the best, but whatever you do, hire a professional to show you how to hide money from spouse.
2. Litigators – Maybe you are facing a lawsuit or just want to protect yourself in case of one, either way the “insurance” you are looking for is found through a professional that can show you where to hide money.
3. Creditors – Sometimes we are forced into owing money we don’t feel is right, or maybe we are concerned this could happen in the near future. Enroll a professional to show you how to hide money from creditors.
4. IRS/Government – If you owe already, it is illegal to try to hide it. If you are looking to reduce future taxes or are concerned the government may put future restrictions on your money, hire a professional to show you how to hide money from IRS.
If you have at least $250,000US in assets and are interested in finding out how to protect it, It starts with a phone call, a free consultation, to find out your point ‘A’ and where you want to go.