Where’s the best place to hide billions of dollars in real estate investing profits?
No one enjoys paying ridiculous amounts of taxes on their hard earned real estate investing profits. Nor do they want to worry about losing their money to equally frivolous and malicious lawsuits. Knowing where to store real estate investing profits can facilitate increased wealth and security for your earnings. So where is the best place to hide all of the money you worked so hard to earn?
The more successful you are, the more important it is to protect what you have. Perhaps that’s why recent estimates figure there is about $32 trillion hiding offshore, with less than 100,000 individuals responsible for one-third of that amount.
Soaring taxes, financial collapses and lawsuits have attributed to the increased use of offshore accounts. Evolving threats have forced the rich to find a new place in which they can store their wealth. However, are offshore accounts really the best option?
As more governments become desperate for cash, and others have had to request bailouts, the advantages of switching to an ‘offshore’ savings account appear less lucrative. It doesn’t cost much to file an offshore corporation, but the protections afforded are minimal compared to what they were a decade ago.
In fact, most real estate investing pros will find that forking out outrageous attorney fees and structuring a maze of shelter corporations is more wasteful and distracting than profitable.
There are advantages to using corporations, trusts and investing money abroad. Moving your wealth to an offshore account may result in less tax penalties for those that have become familiar with the process. If you satisfy the time requirements, set up residence abroad and get the exemption, you may qualify for certain tax easements. Unfortunately, the process is extensive and confusing to the average investor. Loop holes and confusing terminology may accidentally create unwanted ambiguity.
The advantages of obtaining an offshore account are not what they once were. Looking into alternative measures may therefore result in better options. If the security of your wealth has been compromised and it now serves as a liability, look for ways to invest it. Returning your wealth to the real estate industry is a perfect example. In doing so, you can diversify your current portfolio while continuing to make your money work for you.
