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  #1  
Old 01-29-2009, 02:24 PM
Hatterasguy's Avatar
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Talking My future!

http://www.forbes.com/2009/01/28/olenicoff-ubs-offshore-personal-finance-taxes_0127_olenicoff_ubs.html?feed=rss_personalfinance_taxesestates

Crap I guess hiding money offshore wouldn't be a good idea after all!

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  #2  
Old 01-29-2009, 03:30 PM
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Dirty rich people. Why hoarde money? It doesn't go with you when you die. They only accept good deeds and a clean lifestyle at the Pearly gates. No Cash!

They say that rich people are less likely to give on a percentage of their income, because they have become so attached to their money. If an "average" person gave $100 to a charity, thats a WAY higher percentage than if a super rich person gives $1000. Its because the super wealthy have to "protect" their vast money pile.

Scary stuff.
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  #3  
Old 01-29-2009, 04:20 PM
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Nonsense! There's nothing wrong with hiding money offshore and in fact I have a huge stash hidden where nobody will find it.

Ummm, just in case the jar breaks, does anybody know if seawater corrodes copper pennies?
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  #4  
Old 01-29-2009, 04:28 PM
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Dieselsüchtiger
 
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Quote:
Originally Posted by Mike D View Post
Ummm, just in case the jar breaks, does anybody know if seawater corrodes copper pennies?
Yes, they will be green and nasty.....like paper money!
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  #5  
Old 01-29-2009, 04:51 PM
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Old 01-29-2009, 08:49 PM
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Quote:
Originally Posted by Mike D View Post
Nonsense! There's nothing wrong with hiding money offshore and in fact I have a huge stash hidden where nobody will find it.

Ummm, just in case the jar breaks, does anybody know if seawater corrodes copper pennies?
I recomend burying it in your back yard.
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  #7  
Old 01-29-2009, 10:04 PM
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Quote:
Originally Posted by Hatterasguy View Post
I recomend burying it in your back yard.
I recommend burying some of it in aluminum toys.

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Old 01-29-2009, 10:39 PM
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I recommend burying some of it in aluminum toys.

-Shelby

Good idea, but those are a little big to store in your backyard.....



Now, if I owned property with a runway....
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  #9  
Old 01-29-2009, 11:27 PM
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Stuff like would not happen if the Gov. would just keep its hands out of the pockets of the people. That is a major reason people hide money is to keep from getting raped on the taxes. I am guilty I wont lie I have purchased realestate then sold it and then took the money and put it into another proporty in order to keep uncle sam out of my pocket.
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  #10  
Old 01-29-2009, 11:36 PM
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1031 exchange?
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  #11  
Old 01-30-2009, 10:24 AM
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Quote:
Originally Posted by Mike D View Post
Nonsense! There's nothing wrong with hiding money offshore and in fact I have a huge stash hidden where nobody will find it. ... Ummm, just in case the jar breaks, does anybody know if seawater corrodes copper pennies?
If they're stamped with 1982 (or later), they'll corrode away REAL FAST, with just fresh water...

You can try it yourself...scratch any penny made since 1982...stick it in a large glass, cover the glass so the water won't evaporate, then set the glass on your dresser and just watch the thing disappear over the next few months...
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  #12  
Old 01-30-2009, 11:02 AM
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Shucks! I guess I'll have to make a major upgrade to my secret stash and go with nickles! Gonna have to get a bigger jar or maybe even TWO jars!

Burying it in the backyard takes away the thrill of that whole "offshore" idea.
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  #13  
Old 01-30-2009, 12:37 PM
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Best part of the article...

QUOTE:"Olenicoff's assessment of his own role: "a pawn and victim of a greedy scheme." He's asking $500 million in damages, which, given his admitted role in stiffing Uncle Sam, might be something of a stretch."

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