[New_Renter]

When using the map mode, it is sssslllloooowwww….

[New_Renter]

Mr. 4S,
You obviously don’t have a clue how close a call 4S ranch had. You sound new to the area, given that you seem to be having trouble discerning East & West in your ramblings. Are you aware that hot embers travel for miles and could have easily lit 4S like a torch? Had the Santa Ana winds not died down as they did, not only would 4S have been torched, but Fairbanks, Olivenhain, RSF, and even Carmel Valley been lit up. Why do you think the authorities evacuated all the way to Del Mar/Solana Beach? Duh.

[New_Renter]

Mr. 4S,
You obviously don’t have a clue how close a call 4S ranch had. You sound new to the area, given that you seem to be having trouble discerning East & West in your ramblings. Are you aware that hot embers travel for miles and could have easily lit 4S like a torch? Had the Santa Ana winds not died down as they did, not only would 4S have been torched, but Fairbanks, Olivenhain, RSF, and even Carmel Valley been lit up. Why do you think the authorities evacuated all the way to Del Mar/Solana Beach? Duh.

[New_Renter]

Mr. 4S,
You obviously don’t have a clue how close a call 4S ranch had. You sound new to the area, given that you seem to be having trouble discerning East & West in your ramblings. Are you aware that hot embers travel for miles and could have easily lit 4S like a torch? Had the Santa Ana winds not died down as they did, not only would 4S have been torched, but Fairbanks, Olivenhain, RSF, and even Carmel Valley been lit up. Why do you think the authorities evacuated all the way to Del Mar/Solana Beach? Duh.

[New_Renter]

pk92108, obviously you do it with a full paper trail. You report it on your tax return and you completely follow U.S. law. While I’m certainly not qualified to give any tax advice, Treasury Department Form 90-22.1 is used to report an aggregate amount over $10K. If you fail to report using this form, the penalties can be incredibly steep. Guys, there’s nothing sinister about maintaining foreign accounts. Also, I don’t know why people have the impression you can’t earn a return. These banks have many investment vehicles to choose from, just like a U.S. bank they have the full gamut. All income is reported on your tax return, just like a domestic account. Also, any foreign taxes paid may qualify for a foreign tax credit (Form 1116). All this info is easily found on the web…

[New_Renter]

pk92108, obviously you do it with a full paper trail. You report it on your tax return and you completely follow U.S. law. While I’m certainly not qualified to give any tax advice, Treasury Department Form 90-22.1 is used to report an aggregate amount over $10K. If you fail to report using this form, the penalties can be incredibly steep. Guys, there’s nothing sinister about maintaining foreign accounts. Also, I don’t know why people have the impression you can’t earn a return. These banks have many investment vehicles to choose from, just like a U.S. bank they have the full gamut. All income is reported on your tax return, just like a domestic account. Also, any foreign taxes paid may qualify for a foreign tax credit (Form 1116). All this info is easily found on the web…

[New_Renter]

Thanks for the advice qwerty007. BTW, the object of a Swiss account isn’t to hide the money. I don’t believe there is anything in U.S. law to keep you from opening/maintaining foreign bank accounts, they just have to be fully reported on your U.S. tax return, and I assume there are also laws regarding the transfer of funds. Trying to hide money over there in a “numbered” account would be a really bad idea….;-)

[New_Renter]

Thanks for the advice qwerty007. BTW, the object of a Swiss account isn’t to hide the money. I don’t believe there is anything in U.S. law to keep you from opening/maintaining foreign bank accounts, they just have to be fully reported on your U.S. tax return, and I assume there are also laws regarding the transfer of funds. Trying to hide money over there in a “numbered” account would be a really bad idea….;-)

[New_Renter]

I suspect Running Bear is more talking about the smaller private (sometimes family-owned) banks in Switzerland. The three I know about are Julius Baer, Vontobel, and Banque Privee Edmond de Rothschild. There are a number of others I’m sure with stellar reputations. I was just curious as to which one met his/her seemingly strict criteria.

The reasons for putting some funds there stem from a kind of survivalist type of mentality, and as a hedge against a hopefully unlikely massive depression or U.S. bankruptcy. During periods of geopolitical upheaval the Swiss Franc tends to outperform as it serves as a flight to safety. These small swiss banks have little to no exposure in the U.S. markets.

[New_Renter]

I suspect Running Bear is more talking about the smaller private (sometimes family-owned) banks in Switzerland. The three I know about are Julius Baer, Vontobel, and Banque Privee Edmond de Rothschild. There are a number of others I’m sure with stellar reputations. I was just curious as to which one met his/her seemingly strict criteria.

The reasons for putting some funds there stem from a kind of survivalist type of mentality, and as a hedge against a hopefully unlikely massive depression or U.S. bankruptcy. During periods of geopolitical upheaval the Swiss Franc tends to outperform as it serves as a flight to safety. These small swiss banks have little to no exposure in the U.S. markets.

[New_Renter]

Running Bear, I would really appreciate it if you could respond with the name of the private swiss bank you chose. This would potentially save me (and anyone else considering this) alot of time doing the research. I’ve done a bit of of looking already, just enough to know that there a quite a few choices over there in private institutions. Thanks in advance.

[New_Renter]

Running Bear, I would really appreciate it if you could respond with the name of the private swiss bank you chose. This would potentially save me (and anyone else considering this) alot of time doing the research. I’ve done a bit of of looking already, just enough to know that there a quite a few choices over there in private institutions. Thanks in advance.

[New_Renter]

Running Bear,
Care to reveal which Swiss Bank you chose, and also what others you considered? What is the minimum account size they will accept? I have heard everything from $50K to $1M, depending on the bank. I am seriously considering making a trip over there myself.

Until then, Everbank foreign currency CD’s are the hot ticket. My understanding is that the only way to open a Swiss account is to go there in person…..is this true?

[New_Renter]

Running Bear,
Care to reveal which Swiss Bank you chose, and also what others you considered? What is the minimum account size they will accept? I have heard everything from $50K to $1M, depending on the bank. I am seriously considering making a trip over there myself.

Until then, Everbank foreign currency CD’s are the hot ticket. My understanding is that the only way to open a Swiss account is to go there in person…..is this true?

[New_Renter]

Sdcellar, we’ll see if 2010 sticks…With all the foreclosures in the area they might run out of money from lack of tax base!

[Author]

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