When I started my web hosting company I didn’t research much about book-keeping and how essential it is to plan ahead. I didn’t inform myself much about tax either and after a few years of steadily expanding my company I reached a point where I had to deal with both problems.
I did some googling and at the end decided to deal with taxation and accounting in a way that most of my business partners didn’t even think of: Moving the internet company offshore.
Well, that might sound a little bit dodgy and more like risky undertaking to some of you, but today after everything is done I can say that it was definately the best business decisions I’ve ever made.
Stateside Finance helped me forming the tax haven company and opening a trading account with a reputable and well-known bank in an offshore tax haven. Again, when most hear offshore jurisdictions they instantly think of tax evasion and money laundering but they don’t really know how many advantages an offshore jurisidiction really features.
Every bank, insurance, international institution and even governments maintain foundations in offshore tax haven. Certainly for tax reasons but also to conduct business internationally in a simple and confidental way.
I incorporated my company in the Carribean for under $1900 and moved the business offshore. Stateside Finance guided me through the whole incorporation and believe it or not I didn’t even had to leave my office desk.
Finally I don’t have to break my head about taxes or accounting or even company liability; moving my Internet Business offshore resolved all these issues once and for all.