My problem is not making money, is the taxes
- Thread starter StraightUp
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Quick question that I already know the answer to, have you actually seen any accountants for a free consultation?
Why? That'd be pretty low on my list of countries to incorporate, although I would guess that offshore companies for OP would be a good way of ending up with a nice letter from the tax authorities. (on guesswork rather than anything solid, similar to most advice in this thread)
Ah, another alwaysbelow thread. First OP, quit with the fagottry, if you could make $1 mill/year you would do so; even paying 40%. If you aren't making more money it is probably because you are too busy trying to impress strangers on a forum. Or maybe it is something else. But it is definitively not due to taxes. You aren't fooling anyone.
Now, to answer your question: if you don't make enough to pay a good tax attorney/accountant, do some research, read.
For the most part, you don't need an accountant and tax attorney if you aren't making anything worth while ($200,000+ net/year) given the investment needed to create a good tax minimization plan
Incorporation laws, tax filing, incorporating, etc - It can all be done by yourself if you read. That will give you the added advantage that when you do search for an international tax attorney and accountant (given your situation, I'd guess a tax attorney is more appropriate than an accountant, the accountant does the numbers, the other creates strategy) you will understand the topic at hand and be able to discern shitty accountants from the non-shitty ones (seriously, I've had people tell me shit I knew flat out wasn't true)
Now, to answer your question: if you don't make enough to pay a good tax attorney/accountant, do some research, read.
For the most part, you don't need an accountant and tax attorney if you aren't making anything worth while ($200,000+ net/year) given the investment needed to create a good tax minimization plan
Incorporation laws, tax filing, incorporating, etc - It can all be done by yourself if you read. That will give you the added advantage that when you do search for an international tax attorney and accountant (given your situation, I'd guess a tax attorney is more appropriate than an accountant, the accountant does the numbers, the other creates strategy) you will understand the topic at hand and be able to discern shitty accountants from the non-shitty ones (seriously, I've had people tell me shit I knew flat out wasn't true)
So many options for a EU resident! Romania is a good place to incorporate and then maybe you could sub out to Romania. You can incorporate in Gibraltar (no corp taxes at all there bro). So many ways to do this ! But speak to someone who knows what they are doing.
yeah good cook saves can save you so much they're worth every penny.
they help you keep the not paying legal too.
i'm not saying not paying, but I got a good guy, what I thought I had to pay and what I have to pay knowing (well I don't know shit still either but him) what I can write off as business expenses was a huge difference.
I'm not sure how it works in the US but I'm guessing it's at least similar, at first I thought taxes were unfair.
Now, I don't feel that way anymore, because I don't have to pay as much staying within the rules of the game.
edit** found this
maybe you can even write off part of that lambo ;-p http://www.irs.gov/publications/p463/ch04.html#en_US_2012_publink100033949
You say that you are an EU resident, but where are you a citizen?
Citizenship can make a difference, especially if you are a U.S. citizen.
Citizenship can make a difference, especially if you are a U.S. citizen.
Every single EU country has different regulations. For some residents it's impossible to own an offshore company without getting fucked by the tax authorities.
So, where exactly are you based in the EU? You can incorporate anywhere, but you usually have to pay the taxes where you reside, not where the company is registered.
So, where exactly are you based in the EU? You can incorporate anywhere, but you usually have to pay the taxes where you reside, not where the company is registered.
These are just excuses. Even large multi national firms use Cayman, British Virgin Islands, Irish, and Hong Kong corporations.
You can even setup a Paypal account with a HK corporation.
I'm also calling bullshit on this.