Good Home Based Business Ideas For a Tough Economy

As unemployment rates continue to go up and the economy continues to struggle, many individuals are searching for home based business ideas and self employment. The truth is, anyone can work for themselves and be there own boss, but the problem is deciding what to do and which home based business opportunity is right for you.

When starting a home based business, the first thing you will want to do is choose something that you actually like to do. By using your interest or hobbies, you will be better at what you are doing and will enjoy doing it. Did you ever think that working would actually be fun! Well, it can be if you choose the one that’s right for you.

The second thing you need to do is consider the time you will have to work on your home business. If you only have a couple of hours per week to work, then choose a business that only requires that. Data entry jobs and paid online surveys are great business ideas for this amount of time. However, if you have more time, then affiliate marketing may be a good choice.

You will also need to think about the investment you will have to make to start your home based business. These investments can range anywhere from a couple of dollars to thousands, depending on the business you choose.

If computer work isn’t for you, then there are also many home based businesses that don’t require a computer. A home day care, catering, cleaning services and much more. Of course, you will probably still need to use the computer for some of your business, but just not the entire day.

There are hundreds of things you can do. The important thing is to take your time and choose one that you can become successful with. Again, doing something you like to do will raise your success rate incredibly.

Tax Information Exchange Agreement – Offshore Investment Term to Avoid

Tax information exchange agreement (TIEA) is an agreement between parties to transfer domestic tax information. It possesses no benefit to private third party. In fact, the government is the only party getting the benefit. The existence of such an arrangement will affect financial secrecy. It is considered as an important feature for some offshore investors. Experts of offshore banking and investments would not suggest their clients to do business in a country with a TIEA attachment.

TIEA is implemented to avoid a harmful tax practice. According to Organization For The Economic Co-Operation and Development (OECD), the lack of effective exchange of information is one of the key criteria in determining harmful tax practices. It even has a working group aimed to develop a legal instrument that could be used to establish effective exchange of information. The Agreement represents the standard of effective exchange of information for the purposes of the OECD’s initiative on harmful tax practices. The OECD even has developed a manual and tool-kit for automating the process of information exchange between countries. It also lists countries, which deemed to be unco-operative. Andorra, Liechtenstein, and Monaco listed by The OECD’s Committee on Fiscal Affairs as unco-operative tax havens.

A recent act by the OECD was forcing tax haven characterized countries to favour for greater transparency and exchange of information. Singapore and Hong Kong was among the countries devoted to such and arrangements with OECD countries. Both of them were categorized as a tax haven country by offshore specialists.

For individuals this could means less privacy and little space to move. Tax haven is great place for an internet-based business. Own a monetized website, create an offshore account in a tax haven country, and you have a tax-free income. However, this strategy would soon be neglected, since the information and exchange agreement would be implemented and propagate rapidly. For your own convenience, offshore investment as a tax avoiding strategy should not be relied on. Contact a well-known CPA’s or tax consultants for a better and legal tax minimizing strategy.