Americans paying interest to foreigners were formerly required to withhold 30 percent for U.S. taxes.

Foreign persons are not subject to U.S. tax on capital gains and certain other income.

"You certainly do not want to pay U.S. taxes on income earned in another country," he said.

And U.S. taxes are only a fraction of European levels.

Shareholders of corporations are normally subject to U.S. tax only when the income is distributed.

The federal budget is the combination of both the U.S. taxes and spending.

Filing a protective claim for credit or refund of U.S. taxes.

Corporations subject to U.S. tax must file federal and state income tax returns.

As a foreigner, he can legally avoid most U.S. taxes on his profit, likely to run about $40 million a year.

Foreign persons are not subject to U.S. tax on capital gains.