Thanks for your inquiry. In 1989, one of the reasons that the United States cited for removing Manuel Noriega from power was in Panama was money laundering. Post-9/11, stating national security reasons, the United States has taken an aggressive stance against offshore banking. U.S. banks, VISA, MasterCard, etc. all cooperate with the federal government today when allegations are made of either tax evasion or terrorist funding.

The biggest asset protection gurus in the U.S. selling offshore banking (including best selling books at the time) circa 2001 are out of business. Many are in jail. In one instance, the IRS raided the guru’s office and the guru had lists of all his clients he helped evade taxes with offshore banking. Want to guess who the IRS went after for tax evasion using that list?

To answer your question, offshore banking is a risky thing these days. There’s almost a presumption by the government that an individual or small business engaged in such activities is doing something illegal and you get to try to prove your innocence…not vice versa.

Best wishes,

-Mike

What is your position with offshore banking, and running your online business through “panama” as an example?

Is it better to be physically living their, than being here in the US and moving funds through banks, corporations.

Best wishes,

-Mike

“Generally, an out-of-state corporation is commercially domiciled in California if its principal office or place of business is located here, or if its business is managed or controlled from California.”

Note the phrase, “managed or controlled from California.”

Worth reading, even if you live elsewhere, as other states take the same view:

http://www.ftb.ca.gov/forms/misc/689.pdf

Move to Canada? Now there’s a thought. My great-grandmother was Canadian. Back to the ‘old country’ perhaps. After recent trip to Vancouver, could see that as a viable alternative to the U.S. Some clients think so anyway.

As for traffic generation, perhaps I should play SEO expert and start offering SEO solutions on this blog.

Best wishes,

-Mike

I applaud Jerry for trying to educate affiliate about the problem, but I don’t see why he tries to give out legal tax “solutions” other than getting more traffic…

Jerry’s good at SEO and from what I can tell this was done to get more traffic to his blog – where at the top of the post there’s a big graphic linking to an upcoming affiliate training course.

I’d suggest the solution is to move to Canada – you can still get direct flights to Vegas from most of our top cities

But I’m no lawyer so check with a Canadian tax and immigration lawyer before you pack your skis.

Cheers.

I respect your SEO work.

Just don’t pretend to be a lawyer.

As for the “lawyer jokes,” attacking my profession is a straw argument. You dropped the ball by giving bad advice. Whether a lawyer pointed this out or your family doctor, it wouldn’t make a difference.

You goofed up. Nothing personal. We all do from time to time.

Do what you want with your own business.

However, if you care about your blog’s readers, you’ll pull your post before it does more damage.

Sincerely,

-Mike

Thanks for emphasizing that not attacking Jerry personally. I do wish he would focus on his expertise and not tell people on his blog and in his autoresponders what should be done from a legal standpoint. Disclaimers don’t cut it.

That would be like me giving out SEO advice on this site but making a small disclaimer in each post that I wasn’t an SEO expert. The major difference between the two is that botched legal advice will cost an affiliate marketer alot more money than a bad SEO tip.

I respect what Jerry does for StomperNet. Should stick with what he knows.

Best wishes,

-Mike