Effecient means of investing in property equities, property....

T

triple_x

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Hello Everyone,
The original title I wanted to put here was "An Effecient means of investing in property, equities but giving as little as possible to the tax man!"

I have invested in property in Hungary and in equities through an online broker ... I see that people online here had read the "rich dad poor dad " books and so forth. One thing he recommends is to set up a company to put all you assets into so that you can offset all you expenses and look after yourself first and pay the taxman last.....

Has anyone on here tried doing this..setting up a company or is a sole trader/partnership better for a married couple? I do have a day job where I work as a PAYE but wouldnt mind being to be able to get of the rat race some day by reducing my tax bill due to investments would be one step in the right direction...

Any ideas here would be appreciated:D
Probably need to go to an accountant - anyone recommend a good accountant in the Cork area !!!:D
 
triple_x said:
but giving as little as possible to the tax man!
Click to expand...
Legitimately I hope?

I see that people online here had read the "rich dad poor dad " books and so forth. One thing he recommends is to set up a company to put all you assets into so that you can offset all you expenses and look after yourself first and pay the taxman last.....
Click to expand...
Have you read some of the threads about Richard Kiyosaki here on AAM that include both critical and supportive comments on his views and strategies?
 
Yes Legit!

I have reads various threads with regards to Richard Kiyosaki. But what Im really interested in is has anyone set up a company in Ireland for managing their investment porfolio(foreigh property and equities) and what steps did they take?
 
Just bear in mind that much of RK's advice is set out in the context of the rules as they apply in the USA and which may or may not be as applicable in other juristictions having different legislative and tax codes.
 
That's what I was thinking too....The last link is quite out of date but it is a start to think about.......Is there a similar discussion about stocks - is it more efficient to keep stocks registered in ones name or in a registered company....or once again would you get hit doubly. Probably with stocks anyways at least you get hit by CGT and not the full 42%
 
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