You're exaggerating things. Why do you think you should pay taxes if you're the owner of both companies?
Best solution to transfer 150K from France (business account) ?
- Thread starter SasuT
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Tell me you don't know anything about taxes without telling you me you don't know anything about taxes.
because he personally dont own the money. The Company owns the money. If the owner of the Company wants to withdraw money he have to pay taxes
Nah salary is not possible since you have Limited tax liability in France
Whether a company owner needs to pay taxes if he is sending money between two companies that he owns will depend on the following factors:
Some additional things to keep in mind:
In my opinion, I believe you could send money to your company as a means of "capital contribution" or a "loan" without paying taxes.
If you have any questions about the tax implications of transferring money between two companies, then you should consult with a tax advisor, depending on your jurisdiction.
- The type of entity that owns the companies. If the companies are owned by a C corporation (US), then the transfer of money between the companies will be taxable. This is because C corporations are considered separate taxpayers from their shareholders. As a result, any profits that are transferred from one company to another will be taxed as income to the C corporation.
- The type of transfer. If the transfer of money is a loan, then it will not be taxable. This is because loans are considered to be debts, and debts are not taxed. However, if the transfer of money is a dividend, then it will be taxable. This is because dividends are payments that are made to shareholders from company profits.
- In the US. If the transfer of money is less than $10,000, then it will not be subject to reporting requirements. However, if the transfer of money is more than $10,000, then it will need to be reported to the IRS.
Some additional things to keep in mind:
- If the company owner is transferring money from one company to another to invest in the other company, then the transfer may be considered a capital contribution. This is a type of transaction that is used to increase the company's capital base. If the IRS determines that a transfer is a capital contribution, then the company owner may be able to deduct the amount of the transfer from his or her personal income taxes.
- The reason for the transfer. If the transfer is for a business purpose, such as to pay for expenses or to loan money to one of the companies, then no taxes are typically due. However, if the transfer is for a personal purpose, such as to pay the owner's salary or to distribute profits to the owner, then taxes may be due.
- The relationship between the two companies. If the two companies are part of the same corporate group, then there may be special tax rules that apply to the transfer. For example, in the United States, transfers of assets between group companies are generally not subject to capital gains tax.
In my opinion, I believe you could send money to your company as a means of "capital contribution" or a "loan" without paying taxes.
If you have any questions about the tax implications of transferring money between two companies, then you should consult with a tax advisor, depending on your jurisdiction.
You're the expert around here.
The question was not how to send money, but how to get the money out. You don't even seem to understand the question, nor what a capital contribution or loan is. It also doesn't help that you quote something you found on the internet about transferring money between two US companies, when the question is about transferring money from a French company to a UAE person.
The tax advisor will say to pay the 30% tax.
I think you're the one who wants to read the question again, but maybe I'm wrong, I don't understand the English alphabet anymore.......
That was one solution he was considering - and he correctly understood that this can be problematic, specifically because both companies are owned by him and it's a cross-border transaction.
I think you both are right in your replies, however, there is no need to attack each other. There is also the option to ignore a user 😉
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
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