Customer Reviews

Legal Off Shore Tax Havens: How to Take LEGAL Advantage of the IRS Code and Pay Less in Taxes

5 star:		(5)
4 star:		(2)
3 star:		(0)
2 star:		(1)
1 star:		(5)

 

 

The first third of the book provided few insights on protecting your savings. The [...] spent lot of pages telling you that you really need to think twice about moving to another country to protect your savings (Duh!). The last half of the book provides some high-level guidance on the tax structure of various countries. Unfortunately, [...] does not provide any real, actionable detail to move forward with an offshoring your assets.

The book can be summed up as follows:
1) Offshoring your assets requires careful planning and you really need to be ready before you move forward 2) Here is some guidance on the income tax and property tax regulations of various countries 3) Please speak with your accountant and/or lawyer if you want to move forward with offshoring.

[........]

I was fed up with the Internet in regard to this topic. There is too much information scattered everywhere and you don't know what to trust. I purchased this book with the hope that it would lead me closer to my destination. Nothing could be further from the truth.

This book is slightly over 200 pages and over 100 of those pages consist of short three paragraph writeups of different countries and island nations that are pretty much useless unless you're looking for the history/geography lessons that each contains. If you're looking for information that will show you "how to take Legal advantage of the IRS code and pay less in taxes", as the book's tagline suggests, then you will be sorely disappointed.

$16.37 and 3 days later there is ONE thing that sticks out in my mind as being the utmost truth. The author clearly begins a paragraph on page 13 with "While I am no expert by any stretch of the imagination...". That's one thing that we both agree on.

In short, I'm extremely disappointed that I wasted my time and money in this book. You're better off sticking to the Internet.

Oh, and the 2 sentence author biography at the end of the book is priceless. It's almost like the punchline to a bad joke except the joke is on us for lining his pockets by purchasing this book.

While many view taxes as unavoidable in a civilized society, Jesse Schmitt, author of Legal Offshore Tax Havens brings the dream of tax-free living within reach. In this thoroughly researched guide, Schmitt carefully reveals the tax-free living potential of numerous locations such as the U.S., Canada and the U.K. including all the countries, continents and islands in between.

This text serves as a manual for anyone legally looking to minimize or eliminate his or her personal and business tax burden. Schmitt even describes the ideal candidate for this venture and closely reveals the advantages and disadvantages of taking such an action. He clearly defines the difference between tax evasion and tax avoidance in terms of their legality and the penalties for not playing by the rules.

The author scrutinizes each potential tax haven based on political, economical, cultural and physical climate. Designed to be the starting point of your research, this manual provides many suggestions and additional contacts to further your investigation.

Whether you are looking to travel, establish a foreign business, retire, invest or leave the suffocating pressure of your home country's tax policies behind, Legal Offshore Tax Havens offers solutions and advice that insures the transition takes place successfully.

Reference the above title:

Except for the table of qualified tax attorneys and accountants, this book was poorly written with repetition over and over and over. I do not recommend this book unless someone just wants the contact table listed.

An increasing number of Americans are convinced our country isn't a safe haven for investments or storing money - and they are using offshore tax havens around the world to stash cash. LEGAL OFFSHORE TAX HAVENS will appeal to any general-interest lending library with its tips on how to protect money and remain legal in the process. Chapters cover specific areas and their pros and cons and are written with lay readers in mind.

Diane C. Donovan
California Bookwatch

This book is full of great ideas and bad advice. Many of the "tax saving" techniques are either not legal or no longer legal. Following the advice could get one in serious trouble with IRS, if one is American citizen.

Otherwise the book does have some good information but does seem a bit dated for today's new rules and opportunities.

This book is a carefully researched guide for anyone who is looking for a way to establish a lifestyle that includes a comfortable living along with potential international adventure and excludes high taxes. The author provides information on dozens of nations that offer tax incentives to offshore corporations. This is not a get-rich-quick missive, but is intended to give people with the notion to keep the money they earn the information they need to get started on establishing themselves in that position. The appendices are an exhaustive list of resources for the potential investor to use when starting out on his or her offshore adventure. Readers are encouraged to move forward with their offshore plans, but also cautioned to investigate everything fully and utilize the assistance of lawyers and tax professionals. The book is easy to read and understand even for someone without a background in finance or investing.

Tired of 1/3rd of your paycheck being taken by the government? Do you see people around you living the American Dream because they were born in the right income bracket making them entitled to tax breaks and wonder why not you? Well don't let the government take your money anymore, read this book on Legal Offshore Tax Havens and find a way to keep Uncle Sam's fingers out of your wallet.
This work espouses the philosophy that paying taxes is something people do simply because they don't know how to legally avoid doing so. I can't say I disagree. If I were given the choice to simply not pay taxes I would certainly take it, and I don't think there are many people out there who wouldn't. Most people hear a few things about offshore accounts and tax havens in reference to multi-billionaires and their personal fortunes and immediately assume that because their own income is much lower that they could not benefit from these same institutions. This is not true. There are many misconceptions involving the creation of an offshore account, how they work, and who is eligible to use them. This book does a great job of explaining the concept as well as allaying suspicion and misunderstandings.
Essentially it involves applying for and obtaining dual citizenship with one of the listed "tax haven" countries. The term "offshore account" or "tax haven" are misnomers from a time when there existed a loophole in the US tax code which stated income being held outside of the country's boundaries i.e. in international waters, which is anywhere more than twenty miles offshore, was tax exempt. Since then revisions have been made to the tax code which has closed this loophole, though the names still exist. The terms now refer to holding your income in another country in which you possess tax exempt status.
This book does a fine job of outlining the principles behind this as well as different methods of legally holding your money where the US government can't touch it depending on your needs and financial situation. Of course whenever you attempt something like what this book proposes it is important to consult an accountant to ensure you have all the right paperwork filed and are obeying all the statutes to avoid the possibility of fines.
I give this book 5 out of 5 stars. It is well written and easily understandable, even to the layman who may have little to no experience with tax law and protocol. It clearly defines all terminology used and the theory behind the procedures listed. You will find a clear list of steps required for each possible way of using a tax haven, complete with paperwork as well as addresses for hundreds of legal banks, firms, and tax associations throughout the world which can help you. This includes the names and phone numbers of the specific people you would need to speak to. I'm amazed that the author took the time and did such a thorough job as to include information on hundreds, if not thousands, of people that can be of help to you worldwide. It's just one reason I would suggest you definitely give this book a read.

Jesse A. Schmitt wastes no time in launching an opening salvo meant to grab the reader's attention: "...Nearly one third of the income from our jobs goes to taxes. In the average lifetime of an average worker, he or she can expect to pay literally hundreds of thousands of dollars in taxes..." Not exactly the stuff dreams are made of, but thanks to his book "Legal Offshore Tax Havens", you can put yourself on the fast track to keeping more of what you earn while at the same time keeping the Government's paws out of your back pocket.

Let's face it, Uncle Sam is not going to go out of his way to show you how to legally not pay taxes or keep your money in offshore tax havens. In fact, the very concept of offshore bank accounts and tax havens lends itself more to the very rich than it does to the hard-working man or woman on which this country was built. I was thrilled to discover that is simply not true. Schmitt tosses that notion right out the window and does a superb job of demonstrating that you don't have to be Howard Hughes to benefit from the principals outlined in "Legal Offshore Tax Havens."

Schmitt explains in easy-to-understand terms the concept of the "offshore account" or "tax haven:" which refers to a simpler time when a loophole in the US tax code allowed income being held outside of the country's boundaries as tax exempt. Said loophole is now a thing of the past. These days "offshore accounts" refer to holding your income in another country. Easier said than done perhaps, as the key to obtaining an offshore account or tax haven -- recounts Schmitt -- demands that you obtain dual citizenship in one of the listed "tax haven" countries listed in chapters 8-11.

Having said that, let me say that Legal Offshore Tax Havens maps out a common sense strategy for keeping your money safe. Like any worthwhile venture, placing yours money in an offshore account or tax haven country requires a commitment on the part of the reader, in addition to patience and legal expertise of a lawyer or accountant to read the fine print.

Well written and easy to digest. If you ever fancied the idea of keeping your hard-earned money stashed away in a foreign country this'll is the book that will take you there. "Complete" in very sense of the word, Legal Offshore Tax Havens comes armed with everything you need for your journey: points-of-contact, phone numbers and directions. The only thing missing is a passport.

I applaud Jesse A. Schmitt for presenting the facts and not just filling page after page with generic information. An important resource - a thorough read of Legal Offshore Havens will certainly help you discover a pot of gold at the end of the rainbow. I know it did for me!

If your idea of the American Dream involves working at the same place, scraping by for 40 years, and retiring with a heavily taxed fixed income, do not read this book. However, if you feel taxes are unfairly blocking your ability to amass wealth, or if you plan on working in a foreign country anytime soon, you must read Legal Offshore Tax Havens by Jesse Schmitt

With astounding knowledge of tax laws in nations most Americans don't even know exist, Schmitt provides information for individuals seeking tax relief. Before addressing specific tax havens, Schmitt gives an overview explaining what tax havens are, their benefits and risks, and common misconceptions. He also comments on various global investments, including real estate, capital investment, and offshore banking.

The author contends Legal Offshore Tax Havens was written for those who work and live in a foreign country or for those who make money globally with no intention of leaving the U.S. However, with the exception of a very useful section on taking advantage of the IRS's Foreign Income Exclusion Deduction, most of the book deals with becoming a foreign resident or ex-patriot.

Regardless of your personal feelings about taxes (I'm guessing you don't like paying them either), Legal Offshore Tax Havens will make you a more informed (non) taxpayer.