Independence was by far more important to financial security than wealth! Investors can enhance their financial well-being and security with their own energy by turning their investments into real international businesses.
Today increased freedom and job security are the most important reasons why people have their own businesses. This makes enormous sense for anyone, doctors, dentists, accountants, attorneys, investors as well as businessmen. Every profession in the U.S. today is demanding and vulnerable to flawed tort misuse and onerous government interference.
Anyone can gain increased independence with a full or part time business which generates increased income beyond the U.S. legal and tax jurisdiction.
Having your own business gives enormous security. Owners never get fired, made redundant, downsized, laid off, shifted sideways or forced to retire unless they decide to quit working. The owner of a business is always the last to go. Owning a business seems the ultimate job security.
But today having an international business is the ultimate form of security and freedom. Global businesses are safer from lawsuits, government red tape, excessive taxation and local economic recessions.
International businesses make more sense because modern technology, computers, global cell phones, low cost transportation andthe internet make international business easier than ever before.
The tax benefits and asset protection benefits for international business enhance freedom. Numerous areas of tax legislation offer special tax savings for businesses abroad. For example by establishing a Foreign Sales Company, a U.S. company that exports manufactured goods having at least 50% U.S. content can usually achieve a permanent tax exemption for a portion of its import profits. Another area of the Tax Code (IRC, section 957 (a) of Subpart F) allows profits made abroad with genuine non U.S. shareholders to remain totally beyond IRS jurisdiction. (A link to last week’s message that covers this is below.)
Holding assets outside one’s own jurisdiction also gives a business enormous legal and practical asset protection.
International business is also the ultimate area of growth and security. We have learned that the stock market is not a guaranteed way to secure one’s wealth.
Today it is possible for anyone to have at least a part time international business. The secret is simply to start, but to start slowly and gain experience with a part international business before making a major commitment into a full time international business.
The most important key is to start the business doing something you enjoy. Turn your passions to profits. For example, if you love to golf, consider organizing golf tours around the world. Or perhaps, you should market a calendar with 12 famous overseas golf courses. The list of ideas could go on and on, but the point is you will turn pleasurable activity (to do a golf tour or a calendar, you obviously have to play those courses) into a tax deductible expense and hopefully, makes some profit as well. Here are three simple steps, you can use to prepare for your international business.
* Step #1: Become Informed. Read international magazines and papers. Two good places to start learning what’s happening abroad are the Financial Times (England’s leading global economic newspaper) and The Economist, (England’s best weekly international news magazine).
* Step #2: Get ready. Contact international banks and learn the benefits of holding assets and how to do your banking abroad. An international bank with great experience in serving American businesses is Jyske Bank. FISCHER@jbpb.dk
* Step #3: Get started in a small way. Too many people think that big is better. Perhaps for some, but not when they start. It is imperative that one makes their mistakes (and we all will) while we are small. Mistakes when we are big are called Enron!
You can increase profits, enhance security and have extra tax and asset protection. Turn your passions into profit. Start your own international business now!
Until then, may all your business be good.
May we serve you at one of our upcoming courses?
International Business and Investing Course, in North Carolina, https://www.garyascott.com/nccourse
Super Thinking + Spanish https://www.garyascott.com/catalog/sp/
International Business Made EZ Course in Ecuador.https://www.garyascott.com/catalog/IBEZec/
Andes Extension & Real Estate Tour. https://www.garyascott.com/catalog/andeanext/ Andean Shamanic Tour. https://www.garyascott.com/catalog/mingo/ Attend three Ecuador tours and save $398. See https://www.garyascott.com/catalog/save5/
Writers & Self Publishing Coursehttps://www.garyascott.com/catalog/pc/