Tax Planning?

[Rubber Duck]

Over the last couple of days, Chinese Domains Ltd made its first tax payment on its IDN business. That set us back about $15K, but without careful tax planning that would have been a hell of a lot more. Have you done your homework and set up you business in such a way as to minimise your tax obligations. If not, now is the time to start!

[sunsei21]

Originally Posted by Rubber Duck

Over the last couple of days, Chinese Domains Ltd made its first tax payment on its IDN business. That set us back about $15K, but without careful tax planning that would have been a hell of a lot more. Have you done your homework and set up you business in such a way as to minimise your tax obligations. If not, now is the time to start!

i wouldn't know where to start lol but business has not been quite as lucrative here

[Rubber Duck]

Originally Posted by sunsei21

i wouldn't know where to start lol but business has not been quite as lucrative here

Well, it probably means forming a company. Generally speaking, individuals get hammered a lot harder for tax than companies. It will ultimately mean employing a good Accountant. The less you know, the sooner that should be.

[clipper]

Originally Posted by sunsei21

i wouldn't know where to start lol but business has not been quite as lucrative here

How you start off will determine how you end up. While profits may not be there now, the way you classify today's expenditures may end up benefiting or hurting your tax liabilities on tomorrow's sales. A good accountant is necessary.

[websjapan]

british virgin islands company for me

[sunsei21]

well thats one more thing to deal with good advice all help is appreciated