Structuring Your CompanyBy William CatePublished October
1998[http://home.earthlink.net/~beowulfinvestments/]
[http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/]
In Canada, you'll pay 60% taxes on your pretax profit. In the UnitedStates
you'll pay Federal and States taxes on your pretax profit. Thismeans that a
California business pays 41% in taxes. You make money when you save on taxes.
I'm not an attorney nor an accountant. I'd advise that you discuss taxstrategies
with your tax advisers. I'm offering the following from mybusiness experience. I
work on the premise that you must pay taxes in thejurisdiction in which you
earned the money. If you have a local business, don't incorporate in a tax haven
state, likeNevada. The taxing state will still want their taxes on the money
youearned. Too many local businesses incorporate in such a way that the
corporationpays taxes on the business income and the owners pay taxes on the
proceedsfrom the corporation. If your corporate pretax profit was $100
inCalifornia, after taxes your company has $59.00. If you pay the $59.00 tothe
owners, they must pay taxes and the after tax profit is $34.81. Toavoid paying
65% taxes, the owners should never have incorporated. Theyshould have asked
their tax adviser about forming a LLC. If you have a national business,
incorporation in a tax haven State maymake sense. Compared to California, you'll
save 8% on your company's income taxes. If the State tax savings justify tax
haven incorporation, do it. If you have an international company, incorporation
in a tax haven makessense. It won't save your company taxes on your U. S. or
Canadian businessincome. It will save you 40%-60% on your non-North American
businessincome. This strategy is being used by almost every
multinationalcorporation in the World. It's an inexpensive tactic that will save
yourcompany hundreds of thousands of dollars. If you need help creating a
taxhaven corporation, please contact me. Whether you are a business owner or
investor, you should consider a globalapproach to money and investment. The
International Money School offers an excellent primer in sound global money
management. If you would like toattend the next one-day course, please contact
me.To contact the author: Visit the Beowulf Investments website:
[http://home.earthlink.net/~beowulfinvestments/] Or, visit the Global Village
Investment Club
Website:[http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/]By
William CatePublished October
1998[http://home.earthlink.net/~beowulfinvestments/]
[http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/]
In Canada, you'll pay 60% taxes on your pretax profit. In the UnitedStates
you'll pay Federal and States taxes on your pretax profit. Thismeans that a
California business pays 41% in taxes. You make money when you save on taxes.
I'm not an attorney nor an accountant. I'd advise that you discuss taxstrategies
with your tax advisers. I'm offering the following from mybusiness experience. I
work on the premise that you must pay taxes in thejurisdiction in which you
earned the money. If you have a local business, don't incorporate in a tax haven
state, likeNevada. The taxing state will still want their taxes on the money
youearned. Too many local businesses incorporate in such a way that the
corporationpays taxes on the business income and the owners pay taxes on the
proceedsfrom the corporation. If your corporate pretax profit was $100
inCalifornia, after taxes your company has $59.00. If you pay the $59.00 tothe
owners, they must pay taxes and the after tax profit is $34.81. Toavoid paying
65% taxes, the owners should never have incorporated. Theyshould have asked
their tax adviser about forming a LLC. If you have a national business,
incorporation in a tax haven State maymake sense. Compared to California, you'll
save 8% on your company's income taxes. If the State tax savings justify tax
haven incorporation, do it. If you have an international company, incorporation
in a tax haven makessense. It won't save your company taxes on your U. S. or
Canadian businessincome. It will save you 40%-60% on your non-North American
businessincome. This strategy is being used by almost every
multinationalcorporation in the World. It's an inexpensive tactic that will save
yourcompany hundreds of thousands of dollars. If you need help creating a
taxhaven corporation, please contact me. Whether you are a business owner or
investor, you should consider a globalapproach to money and investment. The
International Money School offers an excellent primer in sound global money
management. If you would like toattend the next one-day course, please contact
me.To contact the author: Visit the Beowulf Investments website:
[http://home.earthlink.net/~beowulfinvestments/] Or, visit the Global Village
Investment Club
Website:[http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/]
ABOUT THE AUTHOR He has been the Managing Director of Beowulf
Investments [http://home.earthlink.net/~beowulfinvestments/] since 1981 and is
the Executive Director of the Global Village Investment Club
[http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/]
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