Offshore Options: Are they still safe?
Get Familiar with the IRS Asset Discovery Program Now.
Offshore Options? If you are not familiar with the IRS’s new program designed to uncover all of your assets, anywhere in the world, you need to listen to this week’s episode. Morey Glazer and Macarena Rose discuss the tax changes which were added to the Highway Bill, Obamacare, and BBDECA. All of your foreign interests will be scrutinized and you need to be prepared. The best way to prepare yourself is to hire a professional and engage in a tax planning program. Remember, audits cost money so do it right the first time.
Key Takeaways:[1:40] The IRS is coming after taxpayers and ditching Voluntary Disclosure [3:30] Hiding assets is no longer an option, put your money in safe places [5:42] There are laws in the US designed to protect us [6:50] An LLC used to protect precious metals and real estate in private homes [7:40] The 2015 Social Security changes embedded in Obamacare [9:01] Justice to the Balance Budget and Emergency Deficit Control Act [12:12] IRS upgraded their system so no returns were processed during the first week of January 2016 [13:50] Glazer Financial will review your last 3 returns at no charge to you [16:18] Tax planning and cost reduction strategies through asset protections to build net worth [18:40] Thinking about starting a foreign trust? Be aware, changes can be made without consent [22:06] Knowing the right questions to ask when writing a will