Today TaxMama® hears from Pat in the TaxQuips Forum with a quickie question. “Are income taxes paid to the Virgin Islands deductible as state taxes? VI taxes are governed by the Internal Revenue Code so it doesn’t seem logical they’d be deductible, as federal taxes generally aren’t. In addition, the U.S. Virgin Islands aren’t a […]
Tag Archives: British Virgin Islands
Today TaxMama hears from Tom in the Tax Quips Forum, who has gotten bad advice. “I started investing in an online program that is registered in the British Virgin Islands. They say that this program is exempt from the US Securities Act of 1933, the US Securities Exchange Act of 1934 and the US Investment Company […]