It's worth the cost - It does cost a couple of hundred dollars to open up an offshore bank account, but you have to consider what it is you are protecting. Sure, you may find way more offshore bank account information than First security Bank solutions Inc and I encourage you to search. If you're protecting tens of thousands or even hundreds of thousands of dollars, then the cost of the account is definitely worth it.
Well, to say the least, offshore banking has immense potential. If you're one of those who change job or the city quite frequently, then this perhaps fits your bill the best. You can keep your bank constant even if you're on the move. Wherever you go, you will always have an access to your money and your bank account through offshore banking. If you use any specific bank in one country, you may find it difficult to access your money abroad or may have to unwillingly pay charges on every transaction. You may also not be able to reach your account in some countries. Offshore banking takes care of all these and ensures your money anytime anywhere.
There are basically 2 ways of paying fewer taxes. The first is to find ways to reduce the total income you report. The second method is to generate money tax free, such as putting your income in offshore banks or trusts. These strategies are quite detailed and not available to everyone. However, you should at least investigate to see if they would be possible for you.
Also, assuming you have legally avoided criminal prosecution, many people try to negotiate unpaid taxes, interest and penalties. Please be very skeptical of companies that promise to negotiate your tax liability. In reality, only the bankrupt or near bankrupt qualify for these programs, and many, many people have given me feedback on how some firms take an upfront fee and then do nothing, or even make matters worse. Please be careful.
