Anyone know the ins and outs of keeping your money in offshore accounts (i.e. a swiss bank account for example)?
If I was going to keep any money offshore, I'd want to do it legally...i.e. declare it to the IRS...but if you do that, does it still have benefits? My interest would be to not keep all my eggs in one basket (i.e. the USA).
Often times you see these accounts advertised for protection from lawsuits etc...I wonder, does this really hold true? i.e. if I put money in a legal swiss bank account, and I lose a big lawsuit, is that money really hidden/protected from creditors?
I have also wondered, if you fill out the proper IRS forms, (i.e. yes, I do have a foreign bank account), are you just asking for an audit?
If someone (other than the IRS) was trying to figure out how much money you had...is the account invisible?
Any recommendations on which countries are the best, and which banks w/in those countries?
Any information is appreciated.
If I was going to keep any money offshore, I'd want to do it legally...i.e. declare it to the IRS...but if you do that, does it still have benefits? My interest would be to not keep all my eggs in one basket (i.e. the USA).
Often times you see these accounts advertised for protection from lawsuits etc...I wonder, does this really hold true? i.e. if I put money in a legal swiss bank account, and I lose a big lawsuit, is that money really hidden/protected from creditors?
I have also wondered, if you fill out the proper IRS forms, (i.e. yes, I do have a foreign bank account), are you just asking for an audit?
If someone (other than the IRS) was trying to figure out how much money you had...is the account invisible?
Any recommendations on which countries are the best, and which banks w/in those countries?
Any information is appreciated.