How to Protect Your Money

If you’re a small business owner you probably don’t have the time to worry about investing or protecting your money for generations to come but it doesn’t have to be a big drain on your time. You need to look at it from an investing standpoint. You simply hire an Amarillo business attorney to handle the investment advice with the business’ money so that your profits can stay within the business and grow at a lower tax rate than they would if it was growing as a personal account. A good business attorney can help direct where you put the profits from your business while protecting the money from things like taxes. There are other benefits from using a business lawyer as well such as getting advice on moves you may be considering for the business before you get yourself deep in to any situation.

The other side of the coin is how you protect the wealth you have built over the years from owning a business. That is where you would consult with an Amarillo estate planning attorney. An estate planning attorney will help you preserve the wealth you have so carefully built up over the years. They will customize your estate plan to suit your needs and fit your exact situation. Everyone’s situation is different and most business owners will need something more than just a will and some sort of simple trust set up. This of course depends on the amount of wealth you are trying to protect as well as your plans for the future, family situations and many other factors that go in to estate planning.

By combining the expertise of a qualified business accountant and business attorney you can really keep your focus on wealth creation using your business as the vehicle to get to where you want to go. Finishing off the plan with the guidance of an estate planning attorney will help ensure that you retain that wealth even after you are no longer around to manage it. As small business owners we tend to do everything ourselves but unless you have the proper expertise or experience or even the time to spend on these areas of business and wealth control you should spend the money to keep the right kind of advisors working for you. If you are successful with your business, chances are you didn’t get there without understanding the kinds of activities that you should be doing and the things that you should pay someone else to do. Hiring a business lawyer and an estate planning attorney are the same thing. The things they will do for you are not something that you should be doing on your own and definitely not something that you want to avoid to save a few pennies. Remember the saying Penny wise, Pound foolish when you think you don’t need to hire experts to handle these areas of your business and life.

On another note, if you find yourself in the middle of a divorce that involves a child custody battle, you should check with for representation with an Amarillo child custody attorney to help you through this tough emotional time.

Three Tips to Invest in Yourself

We often talk here about accounting, investing, and personal finance tips and strategies, but today, we want to talk about investing in your most important asset - yourself and your well being. It is often that our health can escape us when we are focusing on work, too much. We tend to eat unhealthy foods that we pick up from fast food chains because we only have a few minutes to take a break. Over time, this can lead to bad health, poor mind development, and a decrease of productivity.

1. Buy a Good Chair

One of the most overlooked aspects of one’s working space is the chair, you know, the thing you sit on all day? We are told over and over again to practice good posture, but that’s fairly difficult without a chair that supports good posture. Additionally, sitting on a chair that’s not want to be sit in all day can bring pain to your butt and your back causing unwanted and unnecessary interruptions in your work and productivity. We recommend going to your nearest office supplies store to pick up a dedicated office chair. You should choose a chair that offers every kind of support adjustable. This is to ensure that you can adjust the chairs settings to perfectly fit your body. You will notice the difference in your productivity and mood instantly.

2. Wear Good Walking Shoes

Another overlooked item that we use nearly all day and everyday is our shoes. Just like office chairs where we sit in them all day, shoes are something you stand in all day. So it makes sense to buy shoes that are comfortable and fit your unique foot. We recommend shopping online here for the best walking shoes. You can also find a great list of walking shoes for females with their list of the best walking shoes for women. In order to pick the best walking shoes for you, you need to make accurate measurements of your foot size, your arch type, and your foot width. Knowing these three things about your feet will help you pick the best walking shoes for you.

3. Eating Healthy

Can this be overstated enough? One of the biggest tips on eating healthy I’ve ever received is to treat food from now on not as a pleasurable activity to satisfy our sense of taste, but strictly as a form of nourishment. Incorporating this powerful mindset into your life will change the way you think about food and what you eat. To get started, we recommend following the paleo diet that prohibits the consumption of any kind of processed foods. Sticking to natural foods will ensure you’re eating fresh and healthy everyday. Healthy foods will give you more natural and sustaining energy throughout your day directly benefiting your long term health and current productivity levels. Eating healthy is the ultimate way to invest in yourself.

Implementing these three tips will change your life for good forever. What simple tips do you have to share for investing in yourself?

How to Start a Business in the Cayman Islands

Starting up a business can be a very daunting experience if you do not have the competent knowledge and the methods of what should come first as a priority. Even if you do manage to find simple solutions on how to start your business you will be faced by a multitude of compulsory obligations to comply with all that is needed in terms of paperwork and the needed time and effort to get your business started. Of course we are talking about setting up a business in a local setting. But what if by some chance that you decided upon setting op a business away from your locality or even in another county?  

If setting up a business can be as task consuming as it already is, what more if you had to start a business over seas? According to Ken Dart, owner of Dart Realty Cayman, a residential and commercial property developer that is based in the Cayman Islands, recounted the time when their business first started out in the island nation, almost 25 years ago. Ken Dart said it was essential to know all the distinct details of how a business should start in a foreign country such as this. Knowing the proper policies that govern business standards and regulations is the first important step before a business can begin here.  

Deciding on the proper organizational structure whether that be sole proprietorship or partnership can be a guiding basis on how to properly declare to the local government your business interests in the Cayman Islands. It should be noted that the Cayman Islands is one of the few places in the world that is exempted from any obligatory taxes that involve companies in declaring their assets and liabilities. Here are a few basic pointers in how to start investing and eventually set up a business endeavor in the Cayman Islands.  

Obtaining a Trade and Business License:

If you are a foreign investor that wants to set up a business in the Cayman Islands, it is standard regulation to acquire a trade and business license if the company that you are setting up does not involve any partnership with any incorporated local business shareholders. As it is applicable to almost every part of the world, as foreign investors are required to incorporate partners that constitute a 60% partnership with local shareholders. A definition of the nature of business that will be established will mean having the need for it to be inspected, in the case of a restaurant business, the submission of the floor plans which include electrical, plumbing and other sorts of structural renovations are needed prior from approval.  

Immigration Work Permits for Foreign Employees:

If you plan to bring in employees from outside of the jurisdiction of the Cayman Islands, it is suggested that you apply for the proper working permits to ensure the legality of your employees status during their time of working for your business. If in the case that you will not be able to find a local Caymanian to address the skills needed in your job requirements, the board of immigration will evaluate and review your request for applying for the proper working permits that will enable you to take in outside workers.  

License to Operate on the Registered Business Address:

It should be noted that there are only two categories of establishments that are classified accordingly in regards to the policies of the Cayman Islands government, office spaces and retail spaces. Residential establishments can not be legally registered as a place in where you could start up your business unless you are the owner of the property or should ask permission from the owners themselves and only by then that the government will approve it. The trade and licensing board does not recommend the use of residential establishments as a point to do business activities.  

Applying for the Basic Amenities Such as Electricity and Communications:

The Grand Cayman Islands has a very excellent and stable source of the basic amenities such as electricity and communications. Communication facilities that provide phone lines, cellular mobile services and Internet are of European standards. Electricity is also stable and there are no frequent occurrences of power outages except on occasions of bad and stormy weather. Basic utilities cost are very reasonable and affordable as well.