- Going Solo Live, Dennis Howlett – chartered accountant explaining the business of paying taxes or why Italians might have three sets of accounts. I keep blogging about this.
We have already posted these stories about Going Solo Live here
Going Solo – @Pistachio – how to use Twitter smartly NOT
What Dennis Howlett shared with us – where you run your business is really important
Whereever you live depends on your live style. However, remember taxes are made up of income, sales/VAT, social taxes, etc. Get the best local advice you can get. So this is the reasons why we opened a Holding in one part of Switzerland and the operating firm in another part (see here:
about us – commercial register
Accounting software is such as:
Blinksale
Freshbooks
FreeAgent
Banana – we use great stuff for all of Europe (all languages)
Remember
- – Allow for taxes 40-50%
– Claim everythign you are allowed to claim
– keep the accounts simple (don’t bend things too far – dog food is not a deductable expense
– get the best advice you can
– keep 10% just to be able to pay if you have to
Bottom Line
Thanks Dnnis for your advice.
Keep it simple stupid (KISS) but getting advice is important. If you start off on the wrong foot when it comes to accounting and/or your taxes and incorporation of your firm, you may pay dearly afterwards.
Thank god we got advice from Rewisco and did these things correctly.
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