You're not your corporation. You and your corp are separate entities. Again, go get a tax lawyer.
BTW... where are you currently storing your millions? Your personal checking account, I'm assuming?
My problem is not making money, is the taxes
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You're not your corporation. You and your corp are separate entities. Again, go get a tax lawyer.
BTW... where are you currently storing your millions? Your personal checking account, I'm assuming?
I wonder if AlwaysAbove realizes the fact that he has outed himself as a total ignoramus. Like everyone else said, it's time to talk to a professional.
It's really hard to believe someone that made such a fool of himself makes any real money online. Also when AlwaysAbove was accusing fellow Wfers of being broke and making "low level business online" he was actually projecting his own failings onto others.
The fact that he doesn't make anywhere near five figures a month?
This thread has prompted me to pay a visit to my accountant and he pointed out a couple ways we can increase our already huge profit margins. So rest easy wf brothers some good did come of this thread!
For an EU person, an accountant should be fine, lawyer maybe to confirm that your setup is legal after you've talked it over with the accountants, but accountants here are pretty well versed in tax law, the main reason you'd want a tax lawyer is if you need client privilege (as long as you make it clear you're not planning to evade tax, only minimise it, that shouldn't be a problem)
This x 100. It's actually really easy to get good tax advice in countries like the UK, Spain, Malta, all of the Baltic countries and so on... Finding a good accountant isn't THAT hard and it doesn't cost much either. It really isn't a big deal (unless you're broke in which case you probably don't need an accountant anyways). And that's why I know that OP is full of it...
oh my godz 30k balln lil wayne eu eu eu champaigne i drive lamos big cribs weeeeeeee gimme accountant yo
Can't even answer basic questions, yet keeps herping.
I hate when movies like The Wolf of Wall Street come out. They always lead to threads that are supposed to seem like The Wolf of Wall Street but more closely resemble The Hobbit.
EDIT: I can't believe I just blew my 4,000th post on this.
EDIT: I can't believe I just blew my 4,000th post on this.
Lol at this. An accountant is supposed to Rat on you or he most likely loses his ability to do that job. A lawyer might be able to protect you from fucking yourself over but that's the extent of what he can do for you because any code of conduct for lawyers says that they have to honor law. As in not help a client working his way around it.
If you do anything that betrays the intention of the law (for you to pay the highest possible amount of money) not doing anything illegal won't cut it. They have their ways of protecting tax dollars.
You need offshore based lawyers not because they are somehow better but because they can actually do what you are looking for without facing repercussions.
If you actually make money on the order of 30k month, you should be able to have a viable play in moving to Malta and taking advantage of the retirement tax scheme which taxes you a flat 5ka year and zero on income derived from anywhere but Malta. You will then have to setup a solid corporate structure which can be had for about 5k plus 1k a year.
That would be one of many legal"zero"tax plays. Don't even think about setting it up on your own though. You'll get slaughtered by whichever tax agency claims your money is theirs.
If you ever have to talk about this to anyone, you do offshore llcs due to the superior asset protection.
No legal advice. People on this forum consider me a clown for a reason. I'm just messing with some idiot.
If you do anything that betrays the intention of the law (for you to pay the highest possible amount of money) not doing anything illegal won't cut it. They have their ways of protecting tax dollars.
You need offshore based lawyers not because they are somehow better but because they can actually do what you are looking for without facing repercussions.
If you actually make money on the order of 30k month, you should be able to have a viable play in moving to Malta and taking advantage of the retirement tax scheme which taxes you a flat 5ka year and zero on income derived from anywhere but Malta. You will then have to setup a solid corporate structure which can be had for about 5k plus 1k a year.
That would be one of many legal"zero"tax plays. Don't even think about setting it up on your own though. You'll get slaughtered by whichever tax agency claims your money is theirs.
If you ever have to talk about this to anyone, you do offshore llcs due to the superior asset protection.
No legal advice. People on this forum consider me a clown for a reason. I'm just messing with some idiot.
The thing is, tax lawyers are quite hard to find over here, and tax laws are very flexible. All it takes is the simple sentence 'I'm not looking to do anything illegal', and you're fine. Offshore setups etc, should generally have a secondary reason for the choice other than tax.
Yeah, I really don't know much about the tax situation across the pond. I'm just speaking from a stateside perspective, and they aren't that hard to find over here. Assuming OP wasn't trolling and was wanting to base his business in the states, it would be worthwhile to hit up a lawyer first.
Oddly enough I even know some farmers that use tax attorneys. Of course, farm taxes can get pretty complicated and all the farmers I know try to cheat on their taxes as much as possible.
Outside of payroll and a few other things I just don't really trust accountants.
$30k a month from a company you own probably isn't enough to own a $2 million dollar home unless you went cash or have a long track record of $30k/month.
Let's say a lender would only want 20% down. That's $400k. Plus they'd want to see that income for 2 years, verifiable by past tax returns.
Let's say a lender would only want 20% down. That's $400k. Plus they'd want to see that income for 2 years, verifiable by past tax returns.
Yeah, may be worth getting a US tax attorney, but I think it's unlikely in OP's case, sounds like he just wants somewhere first world for his adsense checks to go to, for a non US-citizen I doubt the IRS are too much of an issue, it would just be a case of a virtual office most likely, rather than US incorporation.
Well, it could be enough if your company makes the loan (to another company you owned) to buy the house, and you paid rent to the company that bought the house. That way, you get the added benefit of no stamp duty when you sell the house, as long as you sell shares of the company rather than the house itself.