Archive | December, 2004

New Tax Law Changes Will Impact Everyone

Bob Leins, CPA – Several important new tax laws that have passed Congress during this fall’s pre-election period. Two major tax laws have been approved: the Working Families Tax Relief Act of 2004 and the American Jobs Creation Act of 2004 . Both new acts have important effects on your personal tax return. This article […]

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Dance till dawn at Bahamas’ Junkaroo

There’s still time to catch the second — and most frenzied — instalment of Junkaroo, an annual Bahamian festival featuring wild parades, brightly costumed dancers and hordes of revellers. The event is actually split into two parades: one on Boxing Day, and the other on New Year’s Day (starting at 2 a.m. and ending at […]

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Six guilty of tax fraud, conspiracy

By Christine Clarridge – Six leaders of Anderson’s Ark and Associates, a company that made millions purportedly teaching people how to duck taxes by setting up offshore accounts, were convicted of tax fraud and conspiracy in federal court in Seattle yesterday. The jury in the seven-week trial, however, was unable to reach a verdict on […]

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Heist of century a National disaster

By Tim Boreham and Stewart Tendler – It took thieves 2 1/2 hours to haul the sackloads of banknotes from the vault to a semi-trailer parked behind the Northern Bank’s Belfast headquarters. In one of the biggest bank robberies ever, more than $50million was stolen in a meticulously planned operation that police believe was the […]

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Punished for Yesterday’s Loopholes

Business should get used to paying taxes, obeying the law and not finding ways to avoid taxation — this was the key message President Vladimir Putin delivered to CEOs of Russia’s corporations in November at the annual meeting of the Russian Union of Industrialists and Entrepreneurs. It is a statement few will object to and […]

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Using ETFs, funds beats stashing cash overseas

By Jackie Cohen – SAN FRANCISCO – Whether politically motivated or profit-driven, investors have been paying more attention to overseas opportunities since the Nov. 2 re-election of President Bush. Regardless of feelings about the direction of the country in the next four years, the direction of the dollar is causing many to examine foreign strategies. […]

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Amazon sets up offshore

Jersey DVD distributor avoids U.K. sales tax Amazon.com, the world’s biggest Internet retailer, is using a unit based on a British island financial haven to avoid Britain’s sales tax on DVDs. Amazon.com in October set up the wholly owned subsidiary on Jersey, an island in the channel between England and France with a population of […]

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Offshore Can Be Naughty and Nice

By Anna Smolchenko – The word “offshore” has a certain mystique to those who have never been part of it. People often suppose that investing offshore is not only a bit naughty, but must necessarily be expensive. It can be both, but doesn’t have to be. For most expats, offshore banking and investment offers opportunities […]

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Big US firms to bring cash home

Planned tax break could boost economy, create more jobs MOST big US multinational companies don’t bring their offshore earnings home, where taxes are steep. Instead they hoard them in, among other places, Singapore and the Irish Republic, where corporate tax rates are lower. Quite a lot of those funds are expected to be brought back […]

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