Accounts recievable/billing & bookkeeping service

[Brianthedog]

Hi Guys,

I was chatting with my accountant regarding my US LLC, and he advised me that there are many accountants around that provide a billing & bookkeeping service, at pretty reasonable rates. He said by using one of these, i could close my US LLC, and reopen somewhere like the BVI, whilst still mainting banking facilities in the USA (through the accountant's company) - which would obviously take away any tax liability & massively reduce any litigation risk (I'm a non us citizen/resident, and will personally be moving to a 0% income tax country next year).

The way he explained this is my US clients pay directly to the accountants account, they pay my suppliers, freelancers etc and at the end of the month they manage all my transactions and then sends the profit directly to my offshore corp (minus his service fee).

The only reason I have a US LLC is for banking, my other partners in the LLC are residents of France & Belgium, and we're looking for a method that would allow us to hold funds in a corporation without paying income tax on it until we actually recieve a salary/dividend, so moving from a US LLC to a BVI Corporation for example, seems like a perfect way to do this.

This all seems very easy, and a perfect way for a non-us corp to have access to US banking. Has anyone used this type of service, and if so how did it go?

 

[thirtyniner]

And the account would be willing to make the sales and assume your costs on your behalf?

That sounds to good to be true.

 

[Brianthedog]

There's definitely a cost attached, but he seemed to think it'd be in the region of $600-$1000 per month.

We make all the sales, we purely use them to recieve funds & pay bills is how he explained it

 

[boomy]

The way he explained this is my US clients pay directly to the accountants account, they pay my suppliers, freelancers etc and at the end of the month they manage all my transactions and then sends the profit directly to my offshore corp (minus his service fee).

but he must pay tax in the US from all the sales, how is he going to do that if you get all the money and only pay him 1K US$ / month?

 

[otcable]

A common method in South America. When you have several companies as clients you can match necessities. Haven't seen it done with their own account. That is the part that is new to me.

Your cost might be a lot or almost nothing depending on how much are you moving and who are your clients.

 

[Brianthedog]

but he must pay tax in the US from all the sales, how is he going to do that if you get all the money and only pay him 1K US$ / month?

If my BVI Corp (or wherever we chose to reincorporate) with a US virtual office was the company invoicing the clients, and they were purely acting as a pservice provider for making and recieving payments, why would they be paying tax in the US on the total sales volume?