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.

What is best route for taking distribution of 401K as a beneficiary?


Posted March 14th, 2009 by admin 3 Comments »
401k
Pacman asked:


Mother passed in Sept 05 (she was 61) and I’m the beneficiary on her 401K accts. Trying to determine the best route to avoid paying high taxes. In the short term, I am looking at possibly using some monies from the accts to help fund a new business. I’m in my mid-30s. What are my options?, how soon do I need to act?, and what is the best route to avoid paying a bunch of taxes?

How much money can you make until you have to start paying taxes?


Posted January 14th, 2009 by admin 7 Comments »
money
kristina asked:


I just started cleaning houses for some extra money. I make about $100 a week. Do I need to pay taxes on this money? Do you know how much money I can make with out having to pay taxes?