Business Tax Recovery Logo


Business Banking Spotsylvania VA

See below for information on banks in Spotsylvania, VA that give access to business banking, which includes services such as online banking, business checking, business loans, as well as business savings, business credit cards and commercial loans and lines of credit.

Ramscourt Mortgage
(540) 898-0939
10466 Georgetown Dr
Spotsylvania, VA
 
Ptf Financial
(540) 548-8801
9109 Wood Ibis Ct
Spotsylvania, VA
 
American General Finance Services
(540) 786-7472
3940 Plank Rd Ste H
Fredericksburg, VA
 
America'S Cash Express
(540) 786-9224
3585 Plank Rd
Fredericksburg, VA
 
Allied Cash Advance
(540) 891-9194
11105 Leavells Rd
Fredericksburg, VA
 
Union Bank
(540) 898-2700
10415 Courthouse Rd
Spotsylvania, VA
 
Carteret Mortgage Corp Affordable Home Loans
(540) 548-8482
9109 Wood Ibis Ct
Spotsylvania, VA
 
Advance America
(540) 548-0138
3940 Plank Rd Ste X
Fredericksburg, VA
 
Bank Of America
(540) 834-4123
10065 Jefferson Davis Hwy
Fredericksburg, VA
 
Auto Cash Title Loans
(540) 368-9006
503 Caroline St
Fredericksburg, VA
 

Offshore Banking Is It Legal?

Offshore Banking - Is It Legal?

If two phrases every seemed to go together, it would be offshore banking and tax evasion. At least, that's what we are told. So, is offshore banking legal or not?

First off, what is offshore banking? Most people picture exotic island destinations like the Bahamas or Cayman Islands. While these are offshore banking destinations, the true definition of offshore banking is doing banking in any country other than the one you are a citizen of as an individual or base your business in if you are a country. When someone from Russia opens an account at the Bank of New York, they are doing offshore banking. If an English citizen opens a bank account in Boston, they are pursuing offshore banking.

Now, it goes without saying that the type of offshore banking that gets all the notice is the type that has serious confidentiality laws. These include locations like Switzerland, the various offshore islands and some countries that you probably have never heard of such as Andorra. Andorra is a tiny country in the mountains between Spain and France. Despite having a tiny population, a surprising number of Ferraris are seen in the area!

So, is offshore banking legal if you are a citizen of the United States? Can you just fly on down to the Caymans and open an account? YES! There is no law that even remotely suggests that you are barred from pretty much putting your money in whatever bank you like. There is, however, a big caveat to this.

As a citizen of the United States, you must pay tax on all your income regardless of where it is earned. You also must give notice to the IRS that you have money held in offshore accounts. As long as you comply with the regulations and pay the taxes on any gains, you are not going to be in any trouble.

So, what do so many people run into problems? Temptation. You have that money sitting offshore in a bank account. If you invest it in stocks in Europe, who is going to know? If you make money, how is ...

Click here to read the rest of this article from BusinessTaxRecovery.com