As businesspersons we should always stay educated on tax reduction strategies, these are a few solutions.
We can always use an added layer of asset protection and privacy through corporate entities.
Consider choosing a Caribbean LLC, which allows for 1-person/member structure,U.S citizens can transfer assets to this single-member LLC without adverse tax effects. The government does not recognize foreign judgments.
In order to prove that you are doing business there, we can help.
Corporation Management Program
- Formation of an Asset Protection Limited Liability Company (LLC)
- Offshore bank account in Class A top-rated bank (at time of incorporation)
- Caribbean mailing address with mail forwarding
- Caribbean telephone number answered by a live receptionist
- Caribbean fax number
- Annual registered agent fee
- Annual government fee
- Maintenance of bank accounts
- Nominee directors & officers
- Debit card (at time of incorporation) if provided by bank
- Brokerage account application (at time of incorporation)
- Online access to bank account
- Power of attorney or equivalent document giving you 100% control
Package price $3999 (7-9 day delivery time)
Belize LDC (LLC) (7-9 day delivery time)
$1495 (Can add Corporation Management Program for $2495)
Your existing company can be converted to an LDC. This can be done for favorable tax treatment because there is no tax at the company level.
U.S. people can file the IRS for 8832 and elect foreign disregarded entity status to ensure no US tax at the company level. Tax responsibility is passed to members of the company, this can result in the lowering of overall taxes.
There are many benefits offered by the Belize LDC. Including financial privacy, asset protection, lawsuit protection and favorable tax treatment.
Nevada Corp + Nevada Office Program
Benefits: Offers excellent asset protection and limited liability protections to its shareholders, officers, and directors & ultra-low state tax, privacy and confidentiality, a business and corporation-friendly environment. Nevada Corporations pay zero state income tax, franchise tax, capital stock tax, stock transfer tax, estate taxes, corporate income taxes, nor does it tax corporate shares. Your corporation would only be subject to Federal taxation.
Why? This is primarily because the Nevada legislative and judicial branches of government have proven quite corporate-friendly and savvy. Initially based at least partially on Delaware Corporate law, the Nevada legislators have taken the Nevada Corporate law even further with respect to high privacy and low taxation rights, as evidenced by their extensive corporate privacy and asset protection/limited liability statutes and regulations, and low to non-existent state taxation.
Unlike most other states in the union, Nevada has no information sharing agreement with the IRS and does not provide personal or corporate financial records to the IRS.
Nevada Corporate code has no residency requirements. a Nevada Corporation owner can live in any other state, or can literally be a foreigner in another country. This is advantageous for those seeking to conduct business nationally, but wish to minimize their state income tax. However, in order to maximize on the tax reduction benefits of a Nevada corporation, the corporation must be a “resident” Corporation and must have a physical presence in Nevada.
Example of Tax Savings: Individual A earned $50,0000 in income, that person would be liable for approximately $14,000 in taxes. If a C Corporation earned that same $50,0000 in net income, it would only be liable for $7,500. That is a huge difference.
Nevada Virtual Office
Example: If you live in California and own a real estate company but want to minimize your tax liability and provide further protection for your assets, you might form a Nevada Corporation for your real estate company, then register in California as a foreign corporation. This is known as “foreign qualification,”
You may arrange for some of your business and investment profits to be paid directly to your Nevada Corporation to increase privacy and protect assets. This could be accomplished by establishing a Corporation in your home state, then another Corporation in Nevada to be used to do business and receive income from your home-state Corporation. The business in your home state can hire your corporation in Nevada for such things as management, consulting, or for the sale of business supplies, etc.
Another example: If you had substantial stock market investments, you could form a Nevada Limited Liability Company (“LLC”) to hold these investments. You can then arrange for your Corporation in Nevada to manage these investments, and pay “for management services rendered” fees to your corporation in Nevada from these investments via the LLC. All the while your name will not be registering as earning all of this passive, and expensively taxed, income.
In order to benefit from the maximum financial privacy, limited liability, and asset protections offered by your Nevada Corporation, it must meet certain “residency” requirements. You must be able to sufficiently prove that your corporation is a legitimate, operating business in Nevada.
To do so, it must pass these four simple tests:
- Have a Nevada business address, with receipts, or supporting documentation as proof.
- Have a Nevada business telephone number.
- Have a Nevada business license
- Have a Nevada Bank account of some sort (checking, brokerage account, etc.).
- When opening an office, you would have to factor rent, staff, utilities, telephone and data services, employment taxes, supplies, and insurance. Let’s put these into “monthly cost” perspective:
- Costs added up fast – $3,500 a month Multiply this figure by 12 = $42,000 a year
- But we have the sensible solution to meet your needs! We can accomplish all of this for your Corporation for as little as $1495 a year
Features Included in Nevada Office Program:
- Professional Office and Actual Business Address (available by appointment) which are staffed by contracted people during regular business hours,
- Live person answering your shared business telephone number
- Real Nevada Fax number
- Personalized mail forwarding service
- Assistance with the opening of bank or brokerage accounts
- Help applying for a Nevada business license
- Notary service
- Secretarial service
Also Shelf Corps Available:
2-3 Year Old Established Company
Federal Tax ID Number
48 Hour Delivery to You (Of the established company)
Corporate Kit = Corporate Consulting Membership / Resolutions, Amendments, and Meeting Minutes. Services included
Initial Officer List State Filing Fee (Nevada Companies Only)
Filing as a Foreign Corporation in your Home State
Certificate of Good Standing
Tax Consulting with CPA