labdog Posted December 26, 2014 Report Share Posted December 26, 2014 A Canadian passport and corporation would work well for those of us with the opportunity. Capital gains tax is only applied to 50% of the gain and at the cap rate of 25%. Translation; For every $1,000,000 gain you will be taxed 25% of $500,000 or $125,000! You will keep $875,000. It's no wonder many US Corporate offices are in Canada. 1 Link to comment Share on other sites More sharing options...
gymrat76541 Posted December 26, 2014 Report Share Posted December 26, 2014 Sounds better than anything we can expect from the US government! Link to comment Share on other sites More sharing options...
sheltagar Posted December 26, 2014 Report Share Posted December 26, 2014 Ol harper and his crooked cronies passed a bill , where banks can sieze bank accounts and safety deposit boxes . If they fall on hard times. Good luck Link to comment Share on other sites More sharing options...
Happy Man Posted December 26, 2014 Report Share Posted December 26, 2014 You forget for corporation provincial taxes and a tax that was removed but will surely come back. The Capital Taxes that was about 1% yearly. In your calculation you mix up personal capital gains taxes and corporate tax rates. The example you give is for capital personal tax. That is close to 25%. You also have a credit for your first 750K Capital gain Ol harper and his crooked cronies passed a bill , where banks can sieze bank accounts and safety deposit boxes . If they fall on hard times. Good luck The same bill is true for the US. They consider the money in ur bank account as part of the bank capital. If the screw up then ur also screwed Link to comment Share on other sites More sharing options...
Texas1 Posted December 26, 2014 Report Share Posted December 26, 2014 I ate so much turkey ham and stuffn Roto Rooters got me on call block 3 Link to comment Share on other sites More sharing options...
DinarThug Posted December 26, 2014 Report Share Posted December 26, 2014 I ate so much turkey ham and stuffn Roto Rooters got me on call block They Hadn't Seen A 'Download' That Deep Since Blaino Called The RV 3 Years Ago ! 3 Link to comment Share on other sites More sharing options...
bigwave Posted December 26, 2014 Report Share Posted December 26, 2014 I'm going with Adam's idea(s.) Thanks for the info though. Peace Come on RV Link to comment Share on other sites More sharing options...
stealthwarrior Posted December 26, 2014 Report Share Posted December 26, 2014 When your gain is zero then your tax is zero.maybe you can figure out a way to count it as a gambling loss on your income tax. 1 Link to comment Share on other sites More sharing options...
ReinMan Posted December 27, 2014 Report Share Posted December 27, 2014 Don't forget your passport, your bank number, your pen to sign the NDA, your tax forms, and the blood sample. 2 2 Link to comment Share on other sites More sharing options...
ScooterScum Posted December 29, 2014 Report Share Posted December 29, 2014 Somebody negged ya. I evened you out. But you were probably wrong. I'm thinkin' you'll need more than just a sample of blood. probably more like a jug. Link to comment Share on other sites More sharing options...
davis411 Posted December 29, 2014 Report Share Posted December 29, 2014 A Canadian passport and corporation would work well for those of us with the opportunity. Capital gains tax is only applied to 50% of the gain and at the cap rate of 25%. Translation; For every $1,000,000 gain you will be taxed 25% of $500,000 or $125,000! You will keep $875,000. It's no wonder many US Corporate offices are in Canada. you are close, 35% of 50% out of 100% that is the last time i filed last year, davis Link to comment Share on other sites More sharing options...
hozer Posted December 30, 2014 Report Share Posted December 30, 2014 instead of guessing here is a Capital Gains Tax calculator for the U.S. http://www.moneychimp.com/features/capgain.htm Link to comment Share on other sites More sharing options...
jamesi37 Posted December 31, 2014 Report Share Posted December 31, 2014 dinar profits will probably be taxed as ordinary income- not capital gain. so the tax rate will be whatever the individal's total taxable income. irs will make a ruling after the event. irs missed out on a lot of taxes when Kuwait revalued- not going to let it happen again. retired cpa Link to comment Share on other sites More sharing options...
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