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What are 4 Investment Assets You Do NOT Have to Report to the U.S. Government?

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1. Open a foreign bank account - Foreign bank accounts opened with less than ten thousand dollars do not have to be reported under the Foreign Bank and Financial Authority regulations. You only need to report these assets under two conditions - if you have financial interest in, signature authority in, or other authority over bank accounts in foreign countries, or if the sum value of all foreign bank accounts is greater than ten thousand dollars. Each member of a family is able to open their own account. Some foreign banks are able to operate completely online, while others will require that you visit them in person.

2. Buy some foreign land - Foreign real estate is not reportable, and if you do not make an income off it, you do not pay any taxes on it either. In some countries such as Costa Rica and Panama, you can invest in land and sustainable timber farms, eventually leading to benefits like a permanent visa and citizenship.

3. Establish a foreign Trust - Trusts are organizations where one party holds property for the benefit of another party. They hold only securities and assets, and can help you generate tax-advantaged income and protect your assets. It is a popular move to buy and use life insurance through a foreign trust. Foreign trusts are fairly complex, so be sure to speak to a lawyer before proceeding with this.

4. Stockpile precious metals in foreign accounts - Precious metals are not reportable and do not create taxable income until sold. Out of the 4 investment assets you do not have to report to the U.S. government, this is the favorite of the research group that created the report. If you do not want to physically ship metals around the world, you can look into the Switzerland Zurcher Kantonalbank exhange-traded gold fund.

http://www.lrngo.com/library/careerstechnical/accounting/617-the-4-investment-assets-you-do-not-have-to-report-to-the-us-government.html

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