International tax planning small business offshore tax strategies can legally avoid taxes. When you avoid taxes, you help America.
JFK said that “Every dollar released from taxation that is spared or invested will create a new job and a new salary.”
You, the business owner, are the only one that creates real jobs.
The more you avoid taxes, the more money you have to expand and create jobs.
President Kennedy and Supreme Court Justice Hand agreed that patriotism does not mean paying more than your legal share.
And Supreme Court Justice Holmes Justice Holmes rebuked the IRS by saying: “The only purpose of the [taxpayer] was to escape taxation . . . . The fact that it desired to evade the law, as it is called, is immaterial, because the very meaning of a line in the law is that you may intentionally go as close to it as you can if you do not pass it.
If you are the employer, you expand your business. Every Entrepreneur desires the best and biggest business. They sink every dollar into growth. International tax planning provides the maximum legal tax avoidance.
Businesses such as Google, Apple, and General Electric invests 10 cents to save $1 in taxes. This why these firms tax rate is half of small businesses. For example, if you are paying $100,000 a year in taxes, your tax planning budget is $10,000. By the way, the $10,000 is deductible and is $5,000 after-tax expense to save $100,000 in taxes.
And take a look at this. Congress shames US business for paying more than 14% in taxes. Small e-commerce business often have a unique tax planning advantage.
Taxes, like any expense, is controllable. And like any expense, you must plan to control the cost.
To avoid tax uncertainties, you can get an IRS guarantee. Known as a private letter ruling (more on this link), these guarantees are issued by the IRS National Office. Hundreds of these guarantees are issued each year.
If you would like to discuss your tax concerns, then email me, Brian Dooley, CPA, MBT, at [email protected] for a complimentary consultation.
Here is a list of five of the best international tax planning small business and offshore tax strategies (by the way there are hundreds of other small business foreign tax plans):
1. Solo 401K Retirement Plan owning a foreign activity
2. Self-direct IRA and 401K similar to Mitt Romney’s international tax plan
3. Small captive insurance company
4. Nevada Family Trust with international tax advantages
5. E-commerce with offshore web server
So, how do U.S. Supreme Court Justices see legal tax avoidance? Well, the two most famous tax judges are Justice Oliver Holmes and Justice Learned Hand.
Justice Holmes rebuked the IRS by saying: “The only purpose of the [taxpayer] was to escape taxation . . . . The fact that it desired to evade the law, as it is called, is immaterial because the very meaning of a line in the law is that you may intentionally go as close to it as you can if you do not pass it.
And Justice Hand rebuked the IRS by saying: Anyone may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one’s taxes.