Tag Archives: abusive tax

Airbus & Virgin’s SpaceShips Abandons EU VAT for Tax Haven USA?

EU value added tax planning starts in the US.

EU value added tax planning starts in the US.

Airbus announced that it is going to America.  America is the best  (VAT) value added tax haven in the World.  Airbus is joining BMW and Mercedes in California. 

The value added tax (VAT) is an abusive tax.  It destroys a business’s working capital preventing growth, innovation, and jobs.  Virgin Air’s SpaceShip is ready to launch from New Mexico.

The UK and EU VAT is helping the USA boom.  Why is Virgin Air building its Spaceships the U.S?     Well, the VAT adds to the cost of supplies and parts.  Plus, the VAT  is paid with after income tax working capital (money).  Paying with after-tax dollars increases the VAT to 30%.   If you are spending a $1Billion,  you save $300 million over the cost in the U.K. or the EU.  

  • Many people wonder why the VAT destroys growth.   If you need to purchase $1,000 inventory in the US, you will need to make $1,400 and pay income tax of $400.    In the UK and the EU,   you will need $1,700 to buy the $1,000 inventory.   If the VAT is $200,   the after income tax cost is $1,200 (compared to $1,000 in the U.S).
  • The EU business will need to earn $1,700 paying income tax of $500 to have the after income tax money of $1,200. If you are Airbus or Virgin Air and you are spending billions of dollars paying the VAT.
  • The Financial Times of London reported that the VAT had destroyed what remains of Greek Small Business.  The EU announce $2 trillion in bailouts to save  Greece and Spain is looking for the same.
  • England is not safe from VAT tax haven USA.   Virgin Air’s  SpaceShip I and II were built in California (more on this link).  Yes, anti-business state California is better than the U.K.
  • Avoiding value added tax in the United States.

    Virgin Air Spaceship is in value added tax haven U.S.

    1. Virgin Atlantic’s Space Ship II has joined Space Ship I in California. The VAT destroys business like no other tax; it seizes working capital that is required for growth.  What costs $1.30 billion in the U.K. costs $1 billion in California.
    2. If your business needs inventory, you can simply buy more of it in the United States.  More inventories mean more profits.  More profits allow for more growth. 

    Want to take your tax planning to the next level, then contact me, Brian Dooley, CPA, MBT  at [email protected]

IRS Informants Wanted – aka the $104 million bounty

The plot in the  Perry Mason mystery TV show The Case of the Glamorous Ghost involves a tax informant.  Attorney Perry Mason says to  “private  Paul Drake:  “Well, a professional informer is usually interested in 20% reward but more than that they also interested in blackmail.”  

Then,  Lieutenant Tragg walks into the law office of Perry Mason. He replies by saying “which, as you know annoys a police department as much as shooting people in the back of the head.    Um, good evening, everyone”  the Lieutenant says greeting Perry, Della and Paul Drake.

My question to my readers is:   Are there Tax Bounty Hunters today?  Well,  here is a  $104 million tax bounty (on this link).  So, is bounty hunting a  viable business?  Senate Finance Committee member Chuck Grassley, (Republican from Iowa)  has upped the reward paid to Tax Bounty Hunters up to 30%.

As the 1960’s Perry Mason show demonstrates, the IRS has been paying a reward for more than half a century.

In the Perry Mason show, the bounty hunters worked on cruise ships.  Early last Century, cruise ships were for the very wealthy.   The wealthy would shop in Europe (where luxury goods cost less). They sneak the goods into the US.  The tax bounty hunter would travel to befriend wealthy Americans.  Then they would rat them out to the Customs Department.

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Saving tax – Help the IRS write new laws

saving taxes, how to save taxes, tax planning,

Saving taxes by designer new tax laws to fit your tax plan requires you to take an action.

Would you like to have tax laws to fit your individual needs?  Many businesses do.  I call them “private tax” laws.  Getting your private tax law is easier than you think.  

A private tax law is the best tax planning method and gets you the greatest tax savings.  Small business tax planning is more than just deductions. 

Here is what is happening:  When it comes to tax law, Congress gives the IRS an outline and orders them to write a few hundred pages of regulations for each law.  These Regs become the real law.  Often tax loopholes are put into the regulations.

In the early 1980’s, I attended my first IRS hearing.  The IRS did what I asked.  Ten hearings later, and they continue to respect my ideas.  And they will do the same for you.

The magic is the boss of the IRS, the Department of Treasury.  The boss knows that small business creates 70% of all jobs.   Thus, the IRS wants to help small business owners and their advisers.

To get your tax law, you merely ask by submitting a written comment.     A few days ago, a  simple to use the website to submit comments was created.  This website helps you find the laws that are being written and allows you to submit emailed comments.  Here is the link.

Save taxes by knowing the future.  The IRS has too many laws to write.   They are asking us to tell them what to do first.  They issued a request for “Public Comment Invited on Recommendations for Guidance Priority List.”

Get your Tax Team to save you taxes by planning for future laws.  Here is the link to IRS website this.   The IRS plans to issue 300 new laws this year.    You being involved in one or more of them can save you taxes.

I have prepared a template (on this link) that will guide you through these steps.  You merely need to look over the IRS to do list; then tell them what to do. You can use my latest Congressional comment as a sample (click here).

Novice tax planners look at tax shelters or other abusive tax plans.  This approach does not allow you to create wealth.  Wealth is never through finding tax deductions.  Great Tax Plans flow with the tax laws.  

If you have an innovative tax plan and need immediate help, then work with the IRS by getting a private letter ruling.  These rulings are your private tax law.  Only you can use the ruling.

Learn more with this episode of Tax Talk Radio.  This episode is 24 minutes of innovating tax planning.

If you wish to brainstorm your tax ideas with me, Brian Dooley CPA, then please call me at 949–939–3414 for a free one-hour consultation.

Learn more with this episode of Tax Talk  Radio. This episode is 24 minutes of innovating tax planning.

If you wish to brainstorm your tax ideas with me, Brian Dooley CPA, then please call me at 949–939–3414 for a free one-hour consultation.