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On August 5, 1861, facing rapidly deteriorating economic conditions and a horrible defeat at Bull Run, President Abraham Lincoln signed the Revenue Act of 1861 into law. It was the first time in US history that the federal government would charge an income tax on its citizens. But Lincoln felt that it was
March 17, 2015 Santiago, Chile William Shakespeare was definitely not one for following the rules. The playwright was famed for the ways in which he bent the English language in unusual ways to create some of the most significant literary works to date. It was part of his genius, really, in that he
March 12, 2015 Willemstad, Curaçao If you’re an Internet entrepreneur looking for the best country or jurisdiction to register a company for an online business, you definitely need to know about Curaçao. This place is doing something incredibly unique: they’ve actually created a clear regulatory framework on specifically HOW Internet-based businesses and e-commerce
Puerto Rico Tax Incentives:Ultimate Guide & My Personal Experience With Act 20 & Act 22 AUTHOR LAST UPDATED When I wake up and see the ocean in front of me, I have to pinch myself. Here I am, living in a beautiful place that’s part of the United States… yet I pay ZERO
February 24, 2015 Singapore At the end of September 2011, just days before his passing, the company that Steve Jobs founded had a $25 billion cash hoard. Nearly half of this was stashed overseas. What’s more, Apple was running billions in profit through multiple Irish subsidiaries, neither of which were taxable by the
February 23, 2015 Hong Kong In 1494, a 47-year old Franciscan friar named Luca Pacioli invented something that was revolutionary. Pacioli was, in fact, a friend and contemporary of Leonardo da Vinci, and the two collaborated frequently. So you’re probably guessing that Pacioli was a co-designer in Leonardo’s famed flying machine, or a
February 18, 2015 San Diego, California It’s not very often that you hear a senior government official refer to their economic situation using the word ‘crisis’. Yet with uncharacteristic bluntness of any government official anywhere, at least one senior Chinese government official is sounding the alarm bells. And he would know. Guan Tao
February 17, 2015 San Diego, California Jim Morrison used to sing: “No one here gets out alive”. And while few people really expect to die, it happens to all of us. Death, like Hemingway wrote of going bankrupt, happens gradually then suddenly. Given the inevitability, it’s always a good idea to have a
February 16, 2015 En route to the Land of the Free Two years ago, Mr. Chan saw an opportunity. Thanks to tight government control of the Internet, launching a website in China is an intensely bureaucratic affair. It takes much more than just buying a domain and hosting it. In China, you first
February 12, 2015 Puerto Varas, Chile Twenty-seven years ago at the 1988 Republican National Convention in New Orleans, George H. W. Bush accepted his party’s nomination to run for President of the United States. (This was when he announced Dan Quayle as his running mate, to which Senator John McCain later remarked “I
January 30, 2015 Sovereign Valley Farm, Chile A member of my staff caught an obscure resolution that was introduced in the US House of Representatives last week—Resolution no. 41. The fact that there was essentially no coverage of this Resolution really shows how the mainstream media is completely turning a blind eye to
January 30, 2015 Sovereign Valley Farm, Chile The Japanese are known for being great savers and for prioritizing family ties. So it’s particularly important for them to make sure that their savings get passed along to their children. It’s part of human nature to want to pass along our knowledge and our wealth
January 28, 2015 Sovereign Valley Farm, Chile Last May, Mr. Wang from Hangzhou, China walked into a bank on Jiangpu Street in Nanjing, opened an account, and made a 12 million yuan deposit. The bank was new, but it didn’t look different from any other bank that Mr. Wang had been to. It
January 27, 2015 Sovereign Valley Farm, Chile We’ve been very vocal in the past about the importance of holding a portion of your savings at a safe, stable bank offshore. The reasons are numerous: Many foreign banks are much healthier than their Western counterparts who usually have razor-thin capital and tight liquidity. Foreign
Yesterday, the IRS announced the International Data Exchange Service. If you’ve not heard of it, it’s is an outgrowth of the Foreign Account Tax Compliance Act (FATCA), which requires every single bank in the world to get in bed with IRS to share information about customers. We’ve said this over and over, FATCA