FB co-founder renounced US Citizenship b4 IPO

dogtowner

dogtowner

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like King James (Labron) he makes the smart tax move

lefties, see how this works ?


Saverin won’t escape all U.S. taxes. Americans who give up their citizenship owe what is effectively an exit tax on the capital gains from their stock holdings, even if they don’t sell the shares, said Reuven S. Avi-Yonah, director of the international tax program at the University of Michigan’s law school. For tax purposes, the IRS treats the stock as if it has been sold.

Renouncing your citizenship well in advance of an IPO is “a very smart idea,” from a tax standpoint, said Avi-Yonah. “Once it’s public you can’t fool around with the value.”
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Werbung:
That's just like all the rich people and educated youth in France looking for realestate in England. Once they drive out all their golden geese, then what are they going to do?
 
Cruella said:
That's just like all the rich people and educated youth in France looking for realestate in England. Once they drive out all their golden geese, then what are they going to do?
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As Lady Thatcher pointed out, socialism is fine until you run out of other people's money. Going to get ugly is France pretty soon as they already are all but out of it.
 
Pandora said:
I am looking forward to seeing how ugly it gets in France
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they're in recession or within millimeters of it so when the new comrade comes to realize he can't do anything BUT what Kozy was doing all the cheese eating surrender monkeys are going to be burning cars all summer or until LeStalin sends in the army. England will be delighted to take all the money fleeing Le Disastre.
 
GenSeneca said:
They also sip wine... :)

Anyone know which citizenship he will claim? Leftists like to call themselves 'citizens of the world', I wonder what the tax rates are like.
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Brazilian but will be paying Singapore rates. He mainly investing there. I gather Brazil does not tax beyond theiir shores. Also Singapore has no capital gains at all. Tjey appreciate the value of not beating up investors.
 
With any luck, he'll take our Citizen of the World (Obama) with him to Singapore, after the election.
 
He wasn't born in America, and wasn't living in America, so he didn't want to pay taxes to America. That makes sense. Is he really going to save money by declaring citizenship in Singapore? Don't they have taxes there, too?
 
PLC1 said:
He wasn't born in America, and wasn't living in America, so he didn't want to pay taxes to America. That makes sense. Is he really going to save money by declaring citizenship in Singapore? Don't they have taxes there, too?
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residence, not quite the same and they do not have Cap Gains which is mainly what he gets by way of income. so yeah, quite a lot relative to here.
 
dogtowner said:
residence, not quite the same and they do not have Cap Gains which is mainly what he gets by way of income. so yeah, quite a lot relative to here.
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so, he saved a bundle of money by declaring citizenship in the nation in which he was living anyway. What should we conclude from that?
 
PLC1 said:
so, he saved a bundle of money by declaring citizenship in the nation in which he was living anyway. What should we conclude from that?
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That being an American is not worth the very large price the government is asking?

Its not that big of a deal, he isnt American first I dont think. People born and raised here that do this would shock me far more.
 
PLC1 said:
He wasn't born in America, and wasn't living in America, so he didn't want to pay taxes to America. That makes sense. Is he really going to save money by declaring citizenship in Singapore? Don't they have taxes there, too?
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He will still have to pay capital gains on this stock to the US government for his holdings. The point of doing it before the IPO is they can manipulate the price to keep the costs dramatically lower.
 
Werbung:
Pandora said:
That being an American is not worth the very large price the government is asking?

Its not that big of a deal, he isnt American first I dont think. People born and raised here that do this would shock me far more.
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It is not at all likely that an American living in the USA would go off to Singapore in order to save a few bucks, especially when he has more money than he could possibly spend in ten lifetimes anyway. So, I agree that this is not a big deal.
 
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