Taking money out of the USA

[mpeirce]

Watching Locked Up Abroad is rather eye opening.

Sure, many of the folks are just stupid (with a capital S), but some of the people they show aren't stupid and just get themselves into some really bad situations.

 

[LoneAspen]

If somebody is trying to get a large amount of cash out of the country (I'm talking hundreds of thousands, or millions, of dollars, not just a few thousand), why wouldn't they charter a private jet instead of going commercial?

Or, if they're really intent on going it alone, go buy a sailboat that's capable of ocean travel, learn to sail, and then pack it up and go by themselves?

For that matter, I never understood why somebody would go to elaborate extremes to transfer cash to another country, assuming they got the funds legally, and all taxes have been paid. Couldn't they just wire it and be done with it?

I guess all the schemes are mostly to evade taxes, hence all the scrutiny in the first place.

 

[NYEXPAT]

If somebody is trying to get a large amount of cash out of the country (I'm talking hundreds of thousands, or millions, of dollars, not just a few thousand), why wouldn't they charter a private jet instead of going commercial?

Or, if they're really intent on going it alone, go buy a sailboat that's capable of ocean travel, learn to sail, and then pack it up and go by themselves?

For that matter, I never understood why somebody would go to elaborate extremes to transfer cash to another country, assuming they got the funds legally, and all taxes have been paid. Couldn't they just wire it and be done with it?

I guess all the schemes are mostly to evade taxes, hence all the scrutiny in the first place.

Ex-Wive's and lawyers come to mind! I always tell friends a properly planned divorce takes years of planning. You want no paper trail,safety and modest income or appreciation on your assets. Some guy's find SA ideal for real estate as there are no USA reporting requirements.