willbeurdaddy
Posts: 11894
Joined: 4/8/2006 Status: offline
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quote:
ORIGINAL: tazzygirl Tell me something, willbe. If money is in offshore accounts, and invested elsewhere, what taxes are paid and to what country? If money is inherited from those accounts, do they pay inheritance taxes or are the names just switched? What taxes are paid from the interest accrued in those accounts? And to what country? US taxes are owed on offshore investment gains and savings interest. Im not sure whether there is a credit for taxes paid in that jurisdcition as there is for salary income. And yes, estate tax is owed on total assets, regardless of where they are parked.
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Hear the lark and harken to the barking of the dogfox, gone to ground.
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