American using brokerage account in tax haven country?
-
Am I, as an American citizen, although not a registered tax payer, allowed to manage a stock brokerage account, set up in a country with no capital gains tax or income tax?
-
Answer:
allowed to manage a stock brokerage account, You don't set-up a brokerage account with an American broker without supplying them with your ssn. You make any profits, you will get a 1099 from the broker. These will also be reported to the IRS. You make your profits in the US, you pay taxes here.
ZSQ2KO3I3NUOV7ZLZXSX5PVEII at Yahoo! Answers Visit the source
Other answers
Every American is automatically a registered tax payer. If you work, they register you to pay taxes. The IRS has a rule stating that, if you are an American, and you worked last year, you owe taxes, no matter where in the world you live. They will consider the stocks and bonds, etc. in the other countries as your way of cheating them out of the taxes that oyu owe them, and they will prosecute you in court if you do not report it on your W-2, and do not pay the tax they tell you to pay. That's what happened to Charles Wrangle. He was censored in Congress for not reporting his rental property in Dominican Republic.
thegreatone
Related Q & A:
- Which country introduced income tax first?Best solution by Yahoo! Answers
- Why would Japan be a good country to have an american bank branch?Best solution by Yahoo! Answers
- If you export an item for sale, which country do you pay tax to?Best solution by Yahoo! Answers
- What is tax haven?Best solution by Quora
- Who is using my account to send out spam?Best solution by Yahoo! Answers
Just Added Q & A:
- How many active mobile subscribers are there in China?Best solution by Quora
- How to find the right vacation?Best solution by bookit.com
- How To Make Your Own Primer?Best solution by thekrazycouponlady.com
- How do you get the domain & range?Best solution by ChaCha
- How do you open pop up blockers?Best solution by Yahoo! Answers
For every problem there is a solution! Proved by Solucija.
-
Got an issue and looking for advice?
-
Ask Solucija to search every corner of the Web for help.
-
Get workable solutions and helpful tips in a moment.
Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.