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From lost cities of Hong Kong and native villages of Europe to big cities like New York and Washington DC, the love for cash is common everywhere. The idea that people choose to use cash has been embedded in our society for decades. However, over the years, the United States Civil Forfeiture landscape has gotten increasingly complicated, and it is time that we face-to-face with reality: cash is not safe. Even the Germans and the Middle Eastern countries love the feel of cold liquid cash. In some Asian countries like Hong Kong and China, it's a tradition to gift cash on rituals and occasions. Therefore, having large volumes of cash in these countries is not illegal and is a common practice among these people. However, most western...
Suppose you're a nonresident of the United States and are considering filing or amending a U.S. federal tax return. In that case, it's important to understand the concept of U.S. tax "residency" to avoid making an accidental mistake that could jeopardize your ability to file and receive an appropriate refund for your taxes paid (or owed). While the second residency is widely considered part of an offshore strategy, tax residency is also a prominent way to save tax money from your business. In the past few years, multi-millionaires and businesses have shifted to offshore strategies to avoid paying heavy taxes in the U.S. This is why more and more people, investors and millionaires are looking to get a second residency from other...
Nomads normally go into more categories – most commonly, you will find digital nomads, who work online for themselves or for different companies while traveling the world. There are also nomads with businesses, who only choose to travel the world while making money with no work. Traveling the world does not always raise too many questions when it comes to banking. After all, you can have any bank account – as long as you have a card associated with it, you can use it pretty much anywhere in the world. Indeed, you will end up paying commissions and fees for converting money, but this is part of the game. If you live in a beautiful country with a low cost of living and your income comes from a well-developed country, you probably do...
A penny a day will work wonders on the way. This is not really a saying, but you might have heard of ideas on how to double a penny for 30 days. Where is the catch in all that? It sounds easy at first, but wait until the sum goes high. Double a penny a day and you will come up with a pound after about a week. Now, double that dollar up and keep going. After three weeks since you have started doubling that penny, you will have just over £10,000. Keep going and you will reach that million straight away. It is definitely an appealing strategy. It sounds so easy in the first place. After all, you do not even need to start with a penny. You might as well start with £100 to make it easier. The real struggle begins once you reach a high...
Buying and selling cryptocurrency… One of today's most common concerns. Everyone wants a slice of this massive pie, and everyone would be willing to spend some spare cash on digital coins. At the end of the day, you never know – what if it skyrockets overnight? But then, most people have no clue how to do it by the book. Buying digital coins is not like buying groceries from a supermarket. There are some exchanges you need to figure out, but also understand how to transfer money and get your profits back to your bank account. Now, cryptocurrency services are extremely diversified and go in more directions. If digital coins were easy to deal with, chances are everyone would step in – even with a small amount of money. People have no...
One of the most frustrating aspects of the American tax system is that it can leave you exhausted financially and mentally if you are not aware of managing your taxes. The United States government imposes a 30% income tax on U.S. citizens who earn money in another country or even hold investments abroad. Having heavy numbers of your tax is often a nightmare that everyone looks to avoid in the first place. Your free-flowing and financially stable business can easily be ruined by a sudden blow of an unexpected tax bill. This may not sound like great news if you are tired of paying high taxes, but it could be a blessing in disguise! There are many ways to legally avoid paying the U.S. These are more like investment plans that can help you...
Asian tax is a concept that may draw many entrepreneurs’ attention these days. However, before digging deeper, you should know that there is no such thing as a pure tax haven in Asia. There are, indeed, some tax havens in the middle of nowhere, somewhere, faraway. None of them in Asia, though… With all these, there are a bunch of locations in Asia that provide lots of benefits for both people and businesses. On the same note, some of them have specific governmental structures, while others provide advantages in terms of financial laws or perhaps banking. The idea is to be able to reduce your Asian tax without breaking the law – totally doable. You also need to be able to protect your assets, not to mention the possibility to boost...
When Stripe was launched in 2016, people became huge fans of its services. Every online business started turning their business in with Stripe to get a global reach. However, those who are smart enough and have a better perspective on the bigger picture know there's nothing revolutionary about Stripe. It allows you to set up a Delaware C Corporation and manage merchant accounts across the globe easily and remotely. In turn, this makes it easy for you to manage to pay taxes in different regions and helps manage your income from overseas nations smoothly. However, Stripe Atlas is not exactly the answer to all your questions regarding managing an offshore online business. Like the positive, there are many relatively poor aspects...
Are you a perpetual traveler and looking for a way to receive your mail? Well, all you need to do is find the best mail forwarding service! There is nothing more frustrating than missing important mails like tax notices, bills, paper statements, federal notices, etc. Even though we are living in a digital world, there are certain things that are only delivered via mail. It includes, INS notices – immigration notices IRS notices – tax info and bills Credit and Debit cards Social security – info, benefits, and checks Jury duty notices Passports Drivers Licence Handwritten notes and cards When you change your address or travel frequently from one place to another, it is important to figure out how to receive your mail. In such a...
When I cracked six figures for the first time, I was merely in my late twenties. However, it still feels like it was yesterday; things happened too fast for me. I still sometimes get goosebumps when I think of what a roller coaster ride it has been for me. During the initial days of my journey, I was not doing anything productive. I started comparing myself with ordinary people and thought of myself as the king of the world. However, one day out of the blues, I was inspired to not only beat my competitors but take inspiration from them. The inspiration to come back strong after falling at the hands of defeat is what derived me to start my journey to become a multimillionaire. After years of research and thousands of failures, I finally...

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