Want an extra $10K+ tax free out your existing business?

by hayfj2
3 replies
Check with your accountant, but...

if you create information products, you could use your "capital gains
allowance" to sell them to your company and get paid a tax free sum
for "selling" the ipr into your own business.

You could also earn double that if "you and your partner" own the ipr
(intellectual property rights) to the material that you sell to your company
and thus make benefit of both of your allowances. (and not just your own).

But rules may vary around the globe, in the UK your capital gains allowance is currently just over £10K ($15K) per person per annum.

Food for thought.

You could also - NOT sell them to your business, but simply keep them
and the "name" of the products in your name and licence or lease them
to your business in return for an annual fee, but wont be tax free. I'm sure that some of you accountant types in here, may come up with some other thoughts on that too tho.

Hope that gets your creative juices flowing...

#£10k #business #existing #extra #free #tax
  • Profile picture of the author Ron Lafuddy
    Good post, hayfj2.

    Similar fun can be had when you (personally) control a customer list.

    Selling/leasing the customer list to your corporation is one way to
    get the money out of it.
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  • Profile picture of the author Riz
    Some fantastic advice Fraser. You have just helped me find £10k tax free money

    I think I need a new Accountant
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    Ask me For a FREE copy of my upcoming course that will eliminate all your technical gremlins....:
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  • Profile picture of the author Katee
    Thanks for the creative idea. I have to find out how our tax laws will work with that idea.
    I wish you the best.

    Believe . . . .
    . . . . Achieve

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