Discussion in 'Business & Tax Advice' started by kellu, Jul 28, 2015.
With all due respect, you are just starting out, and you already have tax evasion mindset, thats not a smart thing to do.
@$1000 per month, that's barely anything. Why don't you focus on making more $$ and pay the tax (like you should anyways).
This is a marketing forum, nothing to do with crime.
On the other hand, you can form a company, hire a good accountant, and file tax deduction for you. It will work out even better that way.
Thanks for the contribution. However let me just make clear that the tax that the company would have to pay would be to a country where I am not even working in, so it would not make any sense at all. The reason is, that the country doesn't recognise such thing as paying affiliate commission, so if it's for an individual you have to pay employment tax for it. So therefore I need a company name to avoid this.
What comes to my home country where I am liable for taxes, I am able to earn what I am earning tax free legally as it's under the yearly treshold, this is not the issue. But in my home country setting up a company is very difficult and costly, so it's not a viable option.
I am not trying to evade taxes, but just to plan them smartly while staying legal.
Maybe mention the country that you are in and some guys that have some knowledge there can help you out.
You could simply form a Seychelles or Belize corp. easy to setup and easy to kill once you don't need it any longer!
When you get to big money, consider places like BVI and Hong Kong, but until then, I'd focus on actually making the money.
I am from Macedonia. In my country there are a lot of benefits for outside investments, so it can produce more places for hiring. But it is a very low sum to consider opening a firm because the least amount you would have to pay to set up a business in my country would be around 1000 euros with hiring a professional doing that for you. So consider paying the tax or find some other alternative.
they are both suggestions that will def work, does anyone haves any actual information on this specific banks to work with (I rather work with a bank that will not ask for a lot of documentation when opening a corporate account or depositing)
Im highly interested in these offshore banking options preferably outside U.S. jurisdiction so I would appreciate some tangible information
Why the hell you want to incorporate in the BVI and HK if privacy matters? if you want your personal data revealed at any time to any government go that route!
HK banks require personal visit.
Thanks for the info, you are saying that BVI and HK do not actually keep your details secret? Good to know for the future.
Anyways I have nothing to hide, I'm just looking for the cheapest place to form a real company name so that I can make legit invoices.
unless and until your are making more than 100K passive money through IM, It's suggested you don't route money offshore.
Pretty sure the US/IRS can easily get information from ANY worldwide bank if they wanted to....
you are making less than 1000$ so an offshore llc/ltd formation is not suggested till you have a project where you need to pay people or collected a huge amount of money , so for your case i think the best thing is setting up a company on your current country . or look for some of your friends who have one to give you his detail & there is noproblem for that , but you'll have to pay additional tax for him ! ^^
making 10k a month what's the best way to route the money outside US?
For me , trust is an issue.
My company is ligit, always pay taxes blah blah blah as one day the hope will be to sell it on.
How to set up these companies?
All the sites online look nasty.
I don't want cheap, if I am going to save 60k a year in taxes, I figure 6K to set it up is cheap but who to use?
My issue is, I collect large deposits from customers for contracts to import product.
I would prefer to bank that money in an Inc company as an offshore headquarters, and pay the lower tax rate.
Malta is the lowest EU tax rate and is considered 'onshore'. Tax rate for overseas shareholders of Maltese limited companies is 5%.
Add me on skype: moosemalta
You may setup a LLC in free zone areas in United Arab Emirates for 0% tax.
i am not sure about the cost , you may google it. there are many agencies which will help. Ajman and ras al khaimah are cheapest to setup.
I don't think anybody at this forum will be able to truly help you, especially if we don't know your country.
And going further, no forum will be able to help you. Taxes & Companies are critical subject and you can't rely on someones information you read on the internet.
What you need is professional and trusted consulting that will guide you.
It's not cheap and that's why tax optimisation is for richer.
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