How do I open an offshore account to deposit a large inheritance, and then how do I do banking?


Posted June 25th, 2009 by admin 6 Comments »
banking
jbrobinson23 asked:


I have recieved a large inheritance and it will be deposited to a bank of my choice and I thought to avoid paying taxes I would put it in a LEGAL offshore account. What I don’t understand is how will I do my banking and how do I go about opening the account?
The money is comming from out of the country, it will never be in the US, so I would think I could deposit it in an offshore account and legally avoid taxes.

How are mutual fund beneficiaries taxed?


Posted March 31st, 2009 by admin 2 Comments »
mutual fund
michaelblog asked:


I am the beneficiary of my father’s mutual fund or IRA. When the money is distributed to me, does the IRS see that as income or as inheritance? How it is taxed?