Flat Irons Finance

Tax evasion using foreign jurisdiction is accomplished using many different methods. Some can be as simple as taking unreported cash receipts and personally traveling to a tax haven country and depositing the cash into a bank account. Others are more elaborate involving numerous domestic and foreign trusts, partnerships, nominees, etc. The following schemes are not all-inclusive, but just a sample of abusive tax schemes.

False Billing Schemes: A taxpayer sets up an Internation Business Corporation (IBC) in a tax haven country with a nominee as the owner (usually the promoter). A bank account is then opened under the IBC. On the bank’s records the taxpayer would be listed as a signatory on the account. The promoter then issues invoices to the taxpayer’s business for goods allegedly purchased by the taxpayer. The taxpayer then sends payment to the IBC that get deposited into the joint account held by the IBC and taxpayer. The taxpayer takes a business deduction for the payment to the IBC thereby reducing his or her taxable income and has safely placed the unreported income into the foreign bank account. Read more »

Most of us are used to the idea of an annual policy for driving our car or other vehicle, but many insurers also offer the option of temporary short term policies, which can be very useful and cost effective for a range of situations. Most of these short term arrangements are for between one day and one month, but can be for longer. There are even pay as you go policies which can just be topped up as you go along. These are useful if you are not sure how long you will need cover for, or if you cannot afford up front fees for a full year at a time.

One advantage of this type of policy is that it can be much easier and faster to set up than an ordinary longer term arrangement. With streamlined online services being offered by many companies, it is possible to apply via a website and have a policy in place within minutes of applying. This simplicity and speed can make car insurance for a day an ideal way of getting a policy in place extremely quickly when you need it. For instance, if you are buying a new car, whether from a sales room or from a private individual, this type of cover will allow you to set it up and drive your car away immediately. Read more »

Small business owners who manage to bootstrap their way to profitability will still one day need business financing to catapult them to the next level. It does not matter whether the business owner chooses merchant loans, a credit card account, a small business loan or a home equity line of credit to get that funding, as long as the money is available when they need it. Small businesses may have just a small window of opportunity to make it big, and that requires funds that they may not have had had access to before.

Large Capital Expenditures

Commercial real estate is at rock bottom prices and the smart small business owner is probably thinking about buying their offices rather than renting them. Not only does owning the real estate provide a more stable environment to grow the business, but it can serve as an investment in growth, not just in real estate values, but square footage, too. However, most small business owners will need to get large funds to buy property. The alternative, however, is to stay small due to fear of taking on too much risk when it might be the best time to expand now.

Stable Supply Lines

Financing for stable supply lines and larger inventories is a big business strategy that small businesses usually cut. Most may rely on just-in-time fulfillment to keep costs low. However, that makes small businesses subject to price shocks as the economy fluctuates, energy prices increase, or supply lines dry up due to natural disasters. To grow a business and make sure you have what it takes to constantly fulfill the larger demand that you will attract, you need to start stocking up on inventory, generating large energy contracts, and establishing long-term relationships with suppliers. This will mean more planning and setting aside funds early to grab the necessary resources to support your plans for growth.