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If you're business never takes off, it won't matter where you are incorporated. Get some decent advice for a professional you trust. When you start making mad
by _d8fd 10y ago
If you're business never takes off, it won't matter where you are incorporated. Get some decent advice for a professional you trust. When you start making mad stacks of cash, let the profits from your business pay for the super duper advice on a tax strategy that makes the most sense for your business.
About 10 years ago I decided to become a one person tax expert, read a NOLO press book on incorporating, and found what I thought was a clever solution to optimizing taxes in the most favorable manner. About a year later, my accountant told me two things... 1. "I've never actually seen a client choose this tax structure" 2. "You picked the worst possible taxation vehicle for your business, which is hard to do on purpose!"
- terminalcommand 10y agoIMHO tax law also depends heavily on experience. The rulings and the operation are quite different in most countries. Since you're dealing with the state, it's also hard to protect your rights alone. If you're going it alone, I would advise talking with a friend with a law-degree. At least, that way, you could probably avoid grave errors. And if you're being audited, or in trouble with the authorities in any way, definitely try to get some legal help. PS: These are my own opinions, take it with a grain of salt. I just took the exam for the first semester of tax law :).