TODAY'S DISCOVERY, TOMORROW'S FUTURE

Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.

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Message: Need Advice On Taxes
I just pay my taxes, and figure if I'm paying then I must be making money. I asked my very good accountant about this, and he said: setting up a trading co. doesn't save much/anything because the corporate rates are high too, plus you lose your cap gains exemption. Ditto renting a house to yourself. In any case, your trading positions are already outside of any business you might set up and would be crystallized at current prices before moving them - instant tax bill there too. Cayman - easy to send your money there, but it's still taxed at Cdn rates if you'er on the up and up, and if not you'd have a hard time bringing it home. Plus you need e.g. $2m+ to make the accounting worthwhile. If your eyes are bulging from all the money inside you - e.g. minimum $5m, then it would be worthwhile to get fancy. I think the Irivings in the Maritimes essentially pay no taxes (typical billionaires) - they do it all through shell-game trusts. Me, I just pay, and with my friends say "I'd like to have problems like that!" Once again - if you're paying a heavy tax bill, then you must be making money. Render unto Caesar ...
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