Chapter 110 Transfer Loss

  After Andrew received the call from Xia Jingxing, he immediately drove his BMW 740 to the Stanford campus.

He parked the car in Building G of the incubation base, got out of the car, walked towards Xia Jing who was waiting for him downstairs, and asked as he walked, "Aren't you going back to China? What happened? ?"

   "Get in the car and say."

  The situation is more urgent, and Xia Jingxing did not talk to Andrew on the phone.

  When the two got into the car and drove towards San Francisco, Xia Jingxing told Andrew in detail the troubles he had encountered.

   "Oh, my Jade Emperor!"

   "Which stock you bought made a profit of 3 million U.S. dollars?"

   "This world is crazy..."

  Andrew sighed Xia Jingxing’s good luck while driving.

  He worked as a lawyer for ten years, and he didn't make as much money as Xia Jingxing from stocks.

  Before, Xia Jingxing showed him and Principal John’s securities account. At that time, the profit was hundreds of thousands of dollars.

   even took him to search for NetEase stocks.

   But unfortunately, he judged that the upside potential of this stock should have come to an end, so he didn't buy a little bit.

  At this time, he suddenly felt a sense of missing millions of dollars. In addition to heartache, it was also heartache.

  Xia Jingxing was not in the mood to correct the difference between "Jade Emperor" and "God" in Andrew's words, and continued to talk about his troubles.

  After listening, Andrew frowned: "A capital gains tax of $900,000?"

  Xia Jingxing nodded lightly, and then asked: "Judging from your years of experience in the industry, how likely do you think to be found by the IRS?"

  Andrew shook his head, “It’s not easy to draw conclusions. I’ll make a call first.”

  Next, Andrew found a place where he could park and parked the car, and called a friend of the tax accountant.

  Andrew erased a lot of descriptions about Xia Jingxing’s identity, saying that some customers consulted on such tax issues and explored the other side’s tone.

  After some exchanges, Andrew got the answer he wanted.

  After hanging up, he looked at Xia Jingxing and sighed: "Pay taxes honestly, you are a big man in the future! IRS likes to stare at the wealthy people like you."

  Andrew explained: “Next, in addition to applying for a green card, Facebook may become more and more famous and even go public in the future.

  Your goal is too big!

  Unless you no longer have any contact with the United States in the future, after you become famous and become a big man, the IRS may turn over your tax bill a few years ago.

  Generally speaking, the IRS will only review tax returns within the last three years.

  However, if you are found to have underreported 25% or more of your income, the IRS will trace your tax returns for the last 6 years.

  Six years, think about it, how long is this?

  What will Facebook look like six years later? "

  Xia Jingxing is actually mentally prepared to pay taxes. Listening to Andrew's detailed analysis, I feel even more that this capitalist wool is not good!

  Understanding Wang's tax evasion, he was all upset by the IRS gang, not to mention he is a foreigner.

  If someone targets him or Facebook, this is a huge loophole.

  How ruthless the IRS is, I don’t need to explain too much. Even gangsters and drug lords have to pay taxes honestly. The police dare not move them. The IRS dares, and will send undercover agents to check taxes.

  Pay taxes or go to jail, two ways, you choose.

  There is a joke in the United States that IRS will not care about drug trafficking, prostitution, money laundering. They only care about one thing: have you paid taxes on the money you make from drug trafficking?

  In fact, in the IRS tax filing guidelines, there is indeed an explanation that tells taxpayers how to declare illegal income.

  Of course, most drug dealers will not declare, but when they find out that they are about to be arrested, the first thing they think of is paying taxes.

  Because of not paying taxes, not only will they face criminal penalties, but they will also be charged with tax evasion.

  Andrew coughed dryly. “The crime of tax evasion is not a light one. Not only does he go to jail, but he also has to be fined. The reputation loss is also very large.

  You opened an account with First Securities. Listening to your description, many people in their company should have known the news.

  If it is your own company, please ask an accountant or tax accountant to do it.

  After all, it is not a company under your control, and there are always hidden dangers.

  In addition, Asians have some money and like tax evasion, which is the focus of the IRS.

  In the past, Chinese restaurant owners in Chinatown liked to collect cash instead of invoicing.

  Later, the IRS sent someone to squat at the door to count the number of people who entered the store and how much they spent, and then followed the customer to ask if they had an invoice, whether it was cash or a credit card.

  Even simply find someone to eat in this restaurant for a year, count the heads every day, and then calculate how much you should earn in a year.

  There are many ways for those bastards, just like a poisonous snake, as long as they focus on you, they will never stop until they reach their goal.

  IRS also has a "Whistleblower Program". After the reported tax evasion is verified, the whistleblower can get a 30% tax reward.

  You will have money in the future. I believe that the people from First Securities will definitely not mind and make a fortune from you. "

  Xia Jingxing shrugged and laughed, "How can I evade tax? I'm a principled person. Let's go, go to First Securities!"

  Andrew smiled, I believe in a ghost.

After continuing on the road, Xia Jingxing told Andrew about asking for compensation from First Securities.

  After listening, Andrew nodded: "I should indeed ask for compensation, or a hush fee.

  First Securities should have done such things in recent years. Many clients of my law firm are Chinese, and they basically have accounts with First Securities. "

  Speaking of this, Andrew smiled and glanced at Xia Jingxing, “You made so much profit this time, and I guess it shocked them.

  Usually, they help customers "avoid tax", and the amount is only a few hundred or a few thousand dollars, which is difficult to attract the attention of the IRS.

  But you are different. If you are checked by the IRS, they are very likely...what is it called? "

  Andrew thought for a while, then said: "Pull out the radish to bring out the puree! Yes, it is called this, you are the little radish."

   "Not small, twenty centimeters of radish."

   Andrew smiled, "No need to explain, I understand, I understand!"

   made a little joke, and went back to the topic.

   "I judge, in your case, it should be an example in First Securities."

  Xia Jingxing asked: "How to say?"

   "Generally, those who can make millions of dollars in profit, even if they are Chinese, are basically American nationals, and there will be no taxation problems like yours."

   "And international students, it is basically impossible to make so much money, you are also considered a rare species!"

  Xia Jingxing was too lazy to pay attention to the ridicule in Andrew's words, and motioned him to continue.

   "I guess, First Securities is also very entangled now, how can we handle your matter?"

   "Once you are not careful, you should not do this kind of "tax avoidance" for international students. The IRS will also ask them to settle the old accounts."

   "Anyway, you can rest assured, with my Andrew going out, this time the compensation will be fixed!"

  Xia Jingxing smiled and said, "So confident?"

  "You should prepare the lawyer's fee!"

   Andrew smiled confidently, "The five points of the compensation amount are not excessive, right?"

   "Two points!"

   "Add some money, I think I can do better!"

   "Three points, no more."

"make a deal!"

  Brothers also had to settle their accounts clearly. After the price was negotiated, Xia Jingxing began to close his eyes and rest, while Andrew continued to drive. The two of them were not talking, and each began to figure out what to do next.

  (End of this chapter)