tax

Starting a Business

There are several preliminary issues to consider before your business can even worry about the usual issues like costs, contracts, advertising, and the actual operation of the business:

1.  Visa (are you here legally and are your workers)?  There is a new "startup visa" and sometime in the future I hope to discuss it in more detail.
2.  Financial law (what restrictions / rights do you have as a foreign investor)?
3.  Business structure (what kind of business do you run)?  This also affects ...
4.  Taxation, which is always a concern.

Imported cars in korea

Hi all:-

I am in Gwangju right now. I was really keen to know that how is it to keep an imported car in korea, especially in Gwangju. Many models are common here for instance audi a4, or any bmw. But what im concerned about is, im not in seoul or a real big city, how expensive would it be to keep a 2004~2007 audi or BMW or even a honda civic in terms of routine checkups and maintenance. I can ask for insurance on my own for sure. But I really dont know where to ask about running costs of such cars here in korea. I really dont like hyundai n kia stuff. Kindly help me out. If visiting a Honda/BMW/audi authorized service center/showroom is the only option, then its wayyy expensive for me to keep one.

 

Looking forward to your replies.....


Does this sound like a shady situation?

I've finished my 1 year contract and thus due my bonus payment of one month's salary, 2,200,000.  My company added it on to my normal salary, increased the taxes to an ridiculous amount (usually 32,000 now 320,000).  They claimed that they had to do this because it put me into a new tax bracket, so to say.  Next, they deducted double amount for pension and double amount for insurance.  By may calculations, they deposited 1, 489,000 of the 2,200,000.

Has anyone come across this situation before? This seems rather odd to me.  What can I do?


Mertz-International LLC. Tax Planning and Preparation for the American Expatriate

Mertz - International LLC focuses exclusively on the American Expatriate for tax planning and preparation.  

   The owner is a CPA, eMBA from California and has been an expatriate himself since 1997.

   Founded in 2003 our motto is “To effectively serve every client in a PERSONAL way that chooses to do business with our company”

 

We serve every client in a PERSONAL way.

 


Life in Korea: getting your taxes done in Korea and at home

Author's note: I am not a professional tax preparer, accountant, or IRS worker. While I've spent hours researching this post from official government sources, seek the professional help if you need it. Also consider using a program like TurboTax to submit the paperwork electronically (but see below for an important detail!)

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