[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 534 KB, 720x960, 1533686961290.png [View same] [iqdb] [saucenao] [google]
10661053 No.10661053 [Reply] [Original]

I own a small company based in Los Angeles and am standing to gross a significant amount next year. This would be great news to me except for the fact that I will have to give up what could be a bonus for myself to the city of L.A. for having the grace to let me exist within its borders in addition to the taxes owed to Uncle Sam. I am going to change my structuring from a Sole Prop to an LLC and want to know if it's worth it/possible to avoid paying LA by basing my company out of a neighboring county when I file.

Sorry for not posting about shitcoins or Elon

>> No.10661131

bump

>> No.10661160

F

>> No.10661213

just use a different exchange to cashout to avoid the fees

>> No.10661349

>>10661213
retard - read the post before you reply.

For op, if your revenue originates in the US, you have to pay taxes for that anyways- even if your company is registered abroad. ( territorial taxation). One of the good ways to avoid paying is if the payments are received in cash, that way you can simply avoid reporting ( if uncle doesnt know it cant require you to pay). But if the payments are made to an offshore bank in a tax free country, you are exposed to IRS investigations and that is 10 year minimum in federal prison.

So, get it cash ( or cash equivalent's that never enter any bank's books). Once it is on an LLC balance sheet or in any bank acount you control, you will be exposed to get rammed by big Bubba.

(Non US CPA here)