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And one more thing. The more organised you are with your record keeping, the less you will have to pay your accountant. Find out from them how they prefer to receive the records. If they can import from something like Quickbooks, then it makes it easier for everyone. I used to hate the shoebox jobs. Just a heap of receipts and bank statements in a box.
You can then spend the money saved by getting the advice and tax planning. The benefits of running these scenarios can’t be under-estimated and there are many methods that can be used to legally reduce your tax regardless of where you live.
BJF wrote:One of the benefits of incorporating is individual protection from being sued.It will protect shareholder assets from employee negligence. If you own, manage, and work for the company, you have little protection as far as liability goes – if you are the person responsible for the suit being brought.
There are still tax reasons, and I very much agree with Jarvi.
BJF wrote:He thought the chances of someone suing a website owner were very remote,…Depends on what you are doing and how you’re doing it. You’re doing the right thing by consulting experts in your within your political boundaries.
I Incorporated an LLC in Delaware. Because i am not a us citizen, I am not
subject to Tax in the USA.:roflmao:Orotava, if you have a corporation registered in the U.S. I believe you are liable for corporate taxes from profits made by that corporation. Not personally, but via the corporation.
Maybe I’ll get shit for this one… But, I believe that ANYONE in the US who is benefiting from our police, fire, local government, etc… Should have to pay AT LEAST normal taxes.
Sorry.. But I think that is huge bullshit.
People in the U.S. are familiar with Delaware as the home to most large US companies. But many people don’t realize that the U.S. has become one of the world’s most attractive jurisdictions for non-U.S. citizens. The reason is the Delaware Limited Liability Company (LLC).
The LLC is a unique type of company. Similar to a European “limited company”, it is in some ways a corporation and in others a limited partnership. A Delaware LLC is totally disregarded for income tax purposes by US tax authorities. A Delaware LLC pays only one “tax”: the $200 per year Delaware franchise tax.
An LLC’s profits “pass through” to the individual owner. For Americans who file a personal US tax return, these profits are added to their ordinary income and taxed at the individual rate. The advantage for non-Americans who do not file a U.S. tax return is that the LLC’s profits pass through to LLC’s owner but the income is not taxed by the U.S.. Of course, if you feel it is necessary to report the LLC’s income in your home country, you are able to do so. However, ownership in a Delaware LLC is completely private and is never disclosed, not even to the state of Delaware.
KWBLUE – I totally agree with you but since I live on a small island off the
coast of africa its a moot point.
orotava wrote:KWBLUE – I totally agree with you but since I live on a small island off the
coast of africa its a moot point.
That is a very good point
