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Sid70 09-15-2016 01:12 PM

Quote:

Originally Posted by holograph (Post 21164620)
well if you take money from a business card it should be justifiable as a business expense, because just like you said, it's company's finances.

if you take it for personal reasons and if by some chance you get audited by IRS, they surely will ask about those transactions, you may get a fine or will be asked to pay difference in taxes, maybe they will report you to your country's tax agency, who knows..

I see. Back to the same crap. Unless it's stationary, water, daily lunch and water expenses, internet, phones and gas, office rental in another country ( ?) that would be doable.

Adraco 09-15-2016 01:30 PM

Quote:

Originally Posted by Sid70 (Post 21164575)
Correct.... but the income on the US company without transferring $$ to a personal account is not creating any personal income, am I wrong? And ATM withdrawals from a corporate card, or payments are just company's money.

Quote:

Originally Posted by holograph (Post 21164620)
well if you take money from a business card it should be justifiable as a business expense, because just like you said, it's company's finances.

if you take it for personal reasons and if by some chance you get audited by IRS, they surely will ask about those transactions, you may get a fine or will be asked to pay difference in taxes, maybe they will report you to your country's tax agency, who knows..

Quote:

Originally Posted by Sid70 (Post 21164632)
I see. Back to the same crap. Unless it's stationary, water, daily lunch and water expenses, internet, phones and gas, office rental in another country ( ?) that would be doable.

You did not REALLY think it would be soo easy as to setup a company, receive funds and then withdraw them via an ATM card and thereby dodge taxes and use the money privately???

Most countries blocked that looong time ago! Most tax authorities nowadays are in contact with Visa and Mastercard to get the names on foreign card which regularly withdraw cash inside the country.

And as holograph said, it needs to be justifiable expenses
Generally you can assume that if you had a cost, to be able to make an income, then that cost is justifiable and deductible from your earnings.
Say you have an employee, or you buy a new computer mouse or such. That would be justifiable expenses.

For a US based company, to have expenses in a foreign country, you need to show WHY there are expenses in that country. Is it because you generate lots of sales from that country? If not, it will be very hard to justify such expenses. Or else, in an audit, they will deny all those expenses and give you penalties for even trying to bring them up.

Sid70 09-15-2016 01:34 PM

Quote:

Originally Posted by Adraco (Post 21164686)

For a US based company, to have expenses in a foreign country, you need to show WHY there are expenses in that country. Is it because you generate lots of sales from that country? If not, it will be very hard to justify such expenses. Or else, in an audit, they will deny all those expenses and give you penalties for even trying to bring them up.

Yo, we're talking about Delaware company that generally pays one time yearly fee as I understand. No?
So one time fee each year and that's it, that is what motherfuckers who serve Delaware companies are telling around.

In general i can be researching the market for a fairly long period of time, be stupid, spend on marketing research, hire promoters and have an employee.

P.S.: and thanks for bringing other important topics up. I don't know, this is why I'm asking about it and how it works.

stoka 09-15-2016 03:10 PM

you may want to check Sell Software Online | Sell Digital Products | MyCommerce, we've been selling some software through swreg for almost a decade and I see that their checkout page has paypal button right below the subtotal... so it's only a single additional click for a payer

mineistaken 09-15-2016 03:17 PM

Pioneer and paypal closed doors?

sandman! 09-15-2016 03:26 PM

why not contact netbilling and get a merchant account for yourself ?

Adraco 09-15-2016 05:00 PM

From my standpoint, it is hard to see the benefit for that "little" sum of money that you mentioned, $60 000 per year.

With an offshore company or similar setup, it will easily cost you around $2000 in fixed fees per year. Add in the double for banking fees, filing costs, accountant and similar things. Then add maybe another $1000 for own costs, extra costs, for this in your own country. Say the setup costs you $5000 per year. That is 12% of the total, what is your current tax rate?

If the goal only is to make it easy for your clients to pay you, what you really want, and can have up and running tomorrow is Epayservices.com, see here: Welcome to ePayService

and also see further here: Money Transfer ? ePayService

They will provide payment details for you to give to your clients, the clients pay and they will credit your account, minus their own commission.

You can even get a Mastercard and cash out in your local ATM machine.

Sid70 09-15-2016 11:15 PM

Quote:

Originally Posted by stoka (Post 21164965)
you may want to check Sell Software Online | Sell Digital Products | MyCommerce, we've been selling some software through swreg for almost a decade and I see that their checkout page has paypal button right below the subtotal... so it's only a single additional click for a payer

Guess it can be similar to 2CO - hold ups and monthly payouts only . . . I had a friend who also used to sell software via swreg - but i heard no positive comments.

Sid70 09-15-2016 11:16 PM

Quote:

Originally Posted by sandman! (Post 21164992)
why not contact netbilling and get a merchant account for yourself ?

Thanks, I will check the site and see what options they have.

Sid70 09-15-2016 11:20 PM

Quote:

Originally Posted by Adraco (Post 21165151)
From my standpoint, it is hard to see the benefit for that "little" sum of money that you mentioned, $60 000 per year.

With an offshore company or similar setup, it will easily cost you around $2000 in fixed fees per year. Add in the double for banking fees, filing costs, accountant and similar things. Then add maybe another $1000 for own costs, extra costs, for this in your own country. Say the setup costs you $5000 per year. That is 12% of the total, what is your current tax rate?

If the goal only is to make it easy for your clients to pay you, what you really want, and can have up and running tomorrow is Epayservices.com, see here: Welcome to ePayService

and also see further here: Money Transfer ? ePayService

They will provide payment details for you to give to your clients, the clients pay and they will credit your account, minus their own commission.

You can even get a Mastercard and cash out in your local ATM machine.

Thanks for your input. Definitely i was looking to spend not more than 1,5k to set up and not more than a franchise ( about 1k ) a year. If it's not that amount but 5k ish gig - well, not gonna even look into that.

ePayService - i know that type, like OKPay and others where Russians are involved, it may bring up epassporte outcome any moment. Unless you know something about ePayService, any good opinions or testimonials? Because it usually ends up being like Paxum or even worse.

Sid70 09-15-2016 11:21 PM

Quote:

Originally Posted by mineistaken (Post 21164980)
Pioneer and paypal closed doors?

Yes, they no longer can be connected.

stoka 09-16-2016 12:53 AM

Quote:

Originally Posted by Sid70 (Post 21165646)
Guess it can be similar to 2CO - hold ups and monthly payouts only . . . I had a friend who also used to sell software via swreg - but i heard no positive comments.

yea, digital river (mycommerce) pays monthly and may piss you off from time to time ;) but we've never missed a wire from neither swreg nor 2CO and no scheduled payment was ever delayed

and 2CO pays weekly, you just set trigger amount and have no worries whatsoever

it's your call but i'd always choose reliable 3rd party merchant acc over anything else mentioned here

Manfap 09-16-2016 01:41 AM

Why dont you set up a co where you live?

Pay paypal into your EU bank.

Sid70 09-16-2016 03:07 AM

Quote:

Originally Posted by stoka (Post 21165790)
yea, digital river (mycommerce) pays monthly and may piss you off from time to time ;) but we've never missed a wire from neither swreg nor 2CO and no scheduled payment was ever delayed

and 2CO pays weekly, you just set trigger amount and have no worries whatsoever

it's your call but i'd always choose reliable 3rd party merchant acc over anything else mentioned here


Weekly is not bad, will check 2CO again.

Sid70 09-16-2016 03:08 AM

Quote:

Originally Posted by Manfap (Post 21165838)
Why dont you set up a co where you live?

Pay paypal into your EU bank.

There would be no thread then. But there are certain limitations.

CurrentlySober 09-16-2016 03:15 AM

Not helpful but a 100% true story that may interest some.

Back before 9/11 I came into the US to stay for about 2 months on a visitors visa. I was staying at Oakwood serviced corporate apartments in the valley.

I mentioned to a pal that a US bank account would come in handy and he went up to the BOA on Ventura and Topanga (10 mins up the road) with my details written on scrap of paper - No IDs or proof of anything. He came back with a bank account number for me and a week later an ATM visa card that I could use anywhere in the world at ATMs arrived at my apartment in the post...

I still had that account in 2007 when I was deported :)

It was a lot easier back then lol :upsidedow

Sid70 09-16-2016 03:17 AM

Quote:

Originally Posted by Adraco (Post 21165151)

If the goal only is to make it easy for your clients to pay you, what you really want, and can have up and running tomorrow is Epayservices.com, see here: Welcome to ePayService

and also see further here: Money Transfer ? ePayService

They will provide payment details for you to give to your clients, the clients pay and they will credit your account, minus their own commission.

You can even get a Mastercard and cash out in your local ATM machine.

Just had a word with them. No bueno. Dont work with PayPal at all. ACH and wires accepted ONLY from companies / no private transfers.

Done with them. :)

Sid70 09-16-2016 03:18 AM

Quote:

Originally Posted by CurrentlySober (Post 21165931)
Not helpful but a 100% true story that may interest some.

Back before 9/11 I came into the US to stay for about 2 months on a visitors visa. I was staying at Oakwood serviced corporate apartments in the valley.

I mentioned to a pal that a US bank account would come in handy and he went up to the BOA on Ventura and Topanga (10 mins up the road) with my details written on scrap of paper - No IDs or proof of anything. He came back with a bank account number for me and a week later an ATM visa card that I could use anywhere in the world at ATMs arrived at my apartment in the post...

I still had that account in 2007 when I was deported :)

It was a lot easier back then lol :upsidedow

That was doable back in the day, correct.

Sid70 09-16-2016 03:25 AM

Just question on the go, would anyone pay for services via https://www.neteller.com/ instead of paypal? If a web designer offered that payment option.

woj 09-16-2016 05:17 AM

Quote:

Originally Posted by Sid70 (Post 21165943)
Just question on the go, would anyone pay for services via https://www.neteller.com/ instead of paypal? If a web designer offered that payment option.

I doubt many from the US would, even mentioning alternative processor like that will make the client think you are likely running some scam... :2 cents:

BaldBastard 09-16-2016 05:54 AM

Have you tried just going to your local bank and asking if they have USD accounts?

you can pay and get paid just like your in the usa and withdraw to your own country any time, funds in the account are held in USD.

Not sure if that's available everywhere but it is here in Aus

Sid70 09-16-2016 06:18 AM

Quote:

Originally Posted by MrBaldBastard (Post 21166159)
Have you tried just going to your local bank and asking if they have USD accounts?

you can pay and get paid just like your in the usa and withdraw to your own country any time, funds in the account are held in USD.

Not sure if that's available everywhere but it is here in Aus

Answered that above.


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