for Monte and Kaz

[TwoTonTony]

So an offshore LLC company how do they pay less taxes here in the USA? I mean they get a check from the LLC company don't they pay taxes on that?

Monte-

In all honesty i have no idea in terms of offshore things. I know you have to be hugely wealthy to have them even make sense....I am talking 10's and hundreds of millions....

Mine are miniscule....Setting up several companies and the younger companies always show losses to offset the gains of the parent company.....many builders set up llc's off of their main either "c" or sub "s" company. It is similar to when you contribute to a 401K and it comes right off the top to what income level you are taxed at. It is simply a way for small business owners to get an edge. To be honest they should have the biggest gripes of anyone. They can not get loans (like a mortgage now)....pay huge state and employee taxes and face crippling comp. from big companies....

I remember when i was in my 5th year of a growing company i founded. i went for a mortgage and was rejected, yet the manager i employed was given one asap. Now that is before all this no income verification BS, but it shows that a bank values the stability of a job (even if i am the employer) than it does of the small entrepreneur.


I also know of many limited partnerships that have smoked people....Very common in commercial real estate when financing large projects selling shares in the project for a pro forma rate of return. Except 1 thing.....you have zero say....and no guarantee you will be paid back

[KazDog]

Wealth for countries and individuals is not done with labor....it is done with ideas that get executed by labor....

Sure we can say the country was built on the backs of labor.....but it was the idea men who put the ball in motion......labor can always be found.....ideas and innovation can not....

The elite wealthy in this country are rarely idea people or highly educated. Most of their wealth is inherited. Gates is probably the exception to the rule. When you have a lot of money, you pay brilliant people to make more money for you.

KAZ

[TwoTonTony]

The elite wealthy in this country are rarely idea people or highly educated. Most of their wealth is inherited. Gates is probably the exception to the rule. When you have a lot of money, you pay brilliant people to make more money for you.

KAZ

Most millionaires are self-made in this country..

You may be right about the blue-bloods but they are such a small minority (the hiltons, waltons, vanderbilts, etc)....

most wealthy people pay professionals to shield their money.....there is a saying that it is just as hard to keep it (taxes) than it is to make it.....