If you’re exporting goods without an IC-DISC (an “interest charge domestic international sales corporation”), you’re likely paying more income tax than necessary. By implementing this powerful tax planning strategy, you could realize significant tax savings on your foreign sales.
The transfer on death deed, like any other method of estate planning, has its benefits and drawbacks. These pros and cons all depend on the status of your finances, the amount of assets you possess, the urgency of your situation, and much more. Any type of estate planning is a step in the right direction if you have your loved ones’ futures in mind.
Purchasing a company that is already in existence is a valid alternative. If you are interested in potentially acquiring a business instead of starting one from the ground up, there are several vital questions to answer.