THE TAXMAN COMMETH: The Offshore Tax Dodge Could Prove Costly

Written by Phillip Townsend

What arerepparttar boundaries between legitimate tax planning, tax avoidance and outright tax evasion? It seemsrepparttar 148376 lines are becoming more blurred with each passing day. The issue has been front-page news aroundrepparttar 148377 world overrepparttar 148378 past several months due to world government authorities’ successful campaigns to curbrepparttar 148379 illegal use of offshore banks, tax havens and employment in hope of combating widespread tax evasion.

Inrepparttar 148380 US, UK and Australia, tax authorities are actively targeting offshore schemes and expatriates at an alarming rate. Outside of unscrupulous promoters of offshore tax havens (and their clients),repparttar 148381 tax-collecting arms of these governments are also targetingrepparttar 148382 millions of people living and working aroundrepparttar 148383 world who may be unknowingly committing tax evasion.

Here are some recent examples:

• June 2005: Inrepparttar 148384 midst of a broad crackdown on offshore tax shelters usingrepparttar 148385 Patriot Act,repparttar 148386 IRS warned US expatriates working and studying abroad that they risk up to a $10,000 fine or 50 per cent ofrepparttar 148387 value ofrepparttar 148388 offshore account if they fail to report overseas bank and financial accounts.

Real Estate Investing - Ten Myths

Written by Steve Gillman

Is real estate investing only forrepparttar wealthy? Can you buy with no money down? Do you have to knowrepparttar 148375 "right" people? Let's answer by looking at some ofrepparttar 148376 myths of real estate.

1. Real estate investing is forrepparttar 148377 wealthy. Money helps, but my first real estate investment was a $3,500 lot - which I sold for a profit two weeks after I bought it. Small deals, partners, low-down deals, or just putting aside $7 per day for a couple years until you have enough money for a downpayment - these are some ofrepparttar 148378 ways to start with a little and invest in real estate.

2. "0 down" isn't possible. I sold a rental property for $1,000 down because I trustedrepparttar 148379 buyer to makerepparttar 148380 payments, and I wantedrepparttar 148381 9% interest and higher price. He could have gotten a cash-advance on a credit card for another $30 per month and made it a "0-down" deal. "No money down" means none of YOUR money down, and yes, it happens.

3. "0 down" isrepparttar 148382 best way. If you don't invest some of your own money, you'll have higher payments. You'll also spend more time finding suitable properties, and pay more for them (generally cooperative sellers want more for their cooperation - I do). There are 0-down deals out there - they just aren't always worth doing.

3. You need experience. Experience helps, but you get it by investing. Start with common sense, ask how you can lose money, be willing to learnrepparttar 148383 numbers, and you can start where you are.

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