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Discussion in 'Introductions' started by Soreback, Aug 29, 2015.

  1. Soreback

    Soreback Newbie

    Joined:
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    Hello all,

    Now in my 40's, I some how stumbled onto this website through Google searches pertaining to why I pay so much tax etc etc...
    My accountant of course always has the same answer- " Because you are making money "

    I started business when I was 22.
    After 2 trade certificates I decided to set up my own business which I ran for 6 years. Sold it and started an import business.
    Online auction sites were new back then and in my travels, I brought back a host of small cheap junk items.
    Started selling sticker sets for school books, Yugio was a cartoon series just started in New Zealand.
    In China, it had been and gone, all merchandise was cheap and sellers eager to get rid of old stock.
    I was buying sticker sheets for .20 cents and selling for $12 each.
    Playing cards soon followed, then plastic figures.
    I set up an LLC and hired an accountant.
    I moved to radio controlled cars and planes, visiting factories in China, landed my first 20 footer ( oh the excitement )
    Unfortunately, by now , every man and his dog was getting in on the auction site business.
    I had a window of 3 months to sell my stock, and soon learnt never to sell the same product as others would copy sell what I was importing.
    I soon learned most of my competition were just lazy garage sellers who never even visited factories.
    They just try and find out where I'm buying from and do the same.

    So....
    I soon found a niche, designed my own product and found a contract to supply schools with educational products.
    14 years later I am still doing the same thing, long have I left the auction sites behind.
    I am now looking at streamlining how I do business.
    What I can depreciate, am I paying too much tax ( more than likely, even my mortgage broker was horrified to see how much tax I pay )
    Everyone tells me I am paying too much tax, yes it feels like it but no one offers any credible information that I don't already know...
    Hence my search, hence my post.
    Here I am, hoping to learn a few business skills.
    I have dual citizenship for NZ and Britain and am looking at setting up an offshore business.
     
    Last edited: Aug 29, 2015
  2. HoneyHelper

    HoneyHelper Supreme Member

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    welcome to the forum!
    You are going to learn a lot in here!
     
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  3. INS2014

    INS2014 Jr. VIP Jr. VIP

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    Welcome to BHW Sir ;)
     
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  4. Soreback

    Soreback Newbie

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    Thank you , I just wish I had access to this information 20 years ago :)
    Appreciate the welcome.
     
  5. Soreback

    Soreback Newbie

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    and thank you sir for your warm welcome
     
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