Re: Purchase privacy through trusts?
- From: "nemo_outis" <abc@xxxxxxx>
- Date: 09 Oct 2005 16:53:01 GMT
bill <please_post@xxxxxxxxxx> wrote in news:dib71b$gbu$1
@reader1.panix.com:
>
>
> I once read that a good way to reduce the loss of privacy that
> comes with every non-cash purchase is to set up a trust with a name
> that is unrelated to one's name. Then one can get a bank account
> in the name of that trust, along with a debit card.
>
> I know that there are many different types of trust. What kind of
> trusts are suitable for doing what I describe above?
>
> I've also heard of pre-paid cards and "7-eleven cards". How
> anonymous are these?
>
> Any info on any of the above very much appreciated.
>
> bill
>
I have no experience with using trusts for privacy. However, Nevada-
based LLCs are another matter. The key thing is to use the company only
as a privacy shield - make sure it never makes (or, more importantly,
claims) either a profit or loss for income-tax purposes. (It boggles the
minds of the authorities that a Nevada LLC is NOT engaged in tax evasion!
:-)
It is possible to use the company as a "privacy co-op" for a number of
people, if desired. For instance, although costs (especially insurance)
are higher, it is possible for the company to own what effectively become
the members' cars (members are usually $1/year "agents" of the company)
and thus provide considerable privacy about movements. Cars can even be
rotated from a pool.
The company can also provide company credit cards to its agents. Agents
would, of course, reimburse the company for any expenses which were not
company related (usually 100% of them, in fact).
Regards,
PS Essentially the company has no commercial activities (and thus no
taxable profit or loss) - virtually all its transactions are settling
agents' expense accounts and company reimbursements by agents. There may
be a small ongoing loss (negative profit) but even this should not be
claimed for tax purposes (since there is no obligation to report or claim
a loss).
PPS It is possible (although trickier in practice to set up) for the
nominal directors and officers of the company to really be at arms-length
from the members and for the members to be largely unknown to them
(mechanics are again a bit tricky but doable).
.
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