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Newsletter
Newsletter
Welcome to Vietnam
The Next Frontier for Business in Asia!
The Next Frontier for Business in Asia!
As the U.S.-Vietnam Bilateral Trade Agreement opens up new markets for U.S. goods and
services, and as Vietnam becomes WTO's member, the Vietnam market represents the
next great opportunity for all types of American companies.
Vietnam's exports to the U.S. have increased by more than a factor of ten. In the year
before the BTA was signed, Vietnam shipped about US$500 million in goods to the United
States. Last year the figure was US$5.5 billion. While Vietnam has experienced great
success in exporting goods like textiles and seafood to the United States, two-way trade
also benefits both countries. For example, Vietnam's furniture industry imports U.S.
hardwood that it makes into furniture for export to the United States and the rest of the
world.
American investment in Vietnam is strong and growing. Many U.S. businesses are
investing in Vietnam via third-countries, especially Singapore. A recent study shows that
when U.S. investment through third countries is included, the United States is one of the
top investors in Vietnam. Much of this investment is in oil and gas, but investment in
services is on the rise, and there is great potential for further investment in services.
services, and as Vietnam becomes WTO's member, the Vietnam market represents the
next great opportunity for all types of American companies.
Vietnam's exports to the U.S. have increased by more than a factor of ten. In the year
before the BTA was signed, Vietnam shipped about US$500 million in goods to the United
States. Last year the figure was US$5.5 billion. While Vietnam has experienced great
success in exporting goods like textiles and seafood to the United States, two-way trade
also benefits both countries. For example, Vietnam's furniture industry imports U.S.
hardwood that it makes into furniture for export to the United States and the rest of the
world.
American investment in Vietnam is strong and growing. Many U.S. businesses are
investing in Vietnam via third-countries, especially Singapore. A recent study shows that
when U.S. investment through third countries is included, the United States is one of the
top investors in Vietnam. Much of this investment is in oil and gas, but investment in
services is on the rise, and there is great potential for further investment in services.
When To Incorporate...Timing
Matters
Each December, business owners ask whether
they should hurry to form their corporation or
Limited Liability Company (LLC) before the
close of the current calendar year or wait to start
fresh in the New Year.
If you are the owner of a business that is
already up and running, the primary benefit to
incorporating immediately, rather than waiting
until January, is protection of personal assets.
Any minute you wait before incorporating or
forming an LLC is another minute you are
exposed.
An active company that incorporates before
year-end must prepare two tax returns: one as
the proprietorship or partnership and one as
the new corporate entity. However, costs to
prepare the additional returns may be dwarfed
by the potential savings on self-employment tax.
Self-employed business owners must pay 15.3
percent of their earnings to cover Medicare and
Social Security obligations. Contrast this with
the business owner who chooses to
incorporate or form an LLC before year-end. He
no longer pays self-employment tax on any
profit that remains in the corporation or LLC. If
the business owner incorporates during
November or December rather than waiting
until the following year, he stands to save on
self-employment tax for that portion of the
corporate profit that is not distributed as salary.
It may make sense for the aspiring business
owner to wait until January to incorporate or
form an LLC if the business is not yet operating.
Since there is no business activity, the risk of
waiting is reduced.
Matters
Each December, business owners ask whether
they should hurry to form their corporation or
Limited Liability Company (LLC) before the
close of the current calendar year or wait to start
fresh in the New Year.
If you are the owner of a business that is
already up and running, the primary benefit to
incorporating immediately, rather than waiting
until January, is protection of personal assets.
Any minute you wait before incorporating or
forming an LLC is another minute you are
exposed.
An active company that incorporates before
year-end must prepare two tax returns: one as
the proprietorship or partnership and one as
the new corporate entity. However, costs to
prepare the additional returns may be dwarfed
by the potential savings on self-employment tax.
Self-employed business owners must pay 15.3
percent of their earnings to cover Medicare and
Social Security obligations. Contrast this with
the business owner who chooses to
incorporate or form an LLC before year-end. He
no longer pays self-employment tax on any
profit that remains in the corporation or LLC. If
the business owner incorporates during
November or December rather than waiting
until the following year, he stands to save on
self-employment tax for that portion of the
corporate profit that is not distributed as salary.
It may make sense for the aspiring business
owner to wait until January to incorporate or
form an LLC if the business is not yet operating.
Since there is no business activity, the risk of
waiting is reduced.
| Whiskey Balls |
1 cup graham cracker crumbs
1 cup powdered sugar
1 cup finely chopped walnuts
3 teaspoons cocoa powder
1-1/2 tablespoons light corn syrup
1/2 cup whiskey
powdered sugar
In a large mixing bowl stir together graham
cracker crumbs, 1 cup powdered sugar,
walnuts, and cocoa. Stir in corn syrup and
whiskey until well blended. Shape into
3/4-inch balls and roll in extra powdered
sugar. Place on a cookie sheet to dry (do not
bake). If the dough seems too sticky, you can
add a bit more graham cracker crumbs. If the
dough seems too dry, add a very small
amount of corn syrup. Let dry for 2-4 days
(until they are firm, and easy to handle and
bite into, but not rock-hard), then store in an
airtight container.
1 cup powdered sugar
1 cup finely chopped walnuts
3 teaspoons cocoa powder
1-1/2 tablespoons light corn syrup
1/2 cup whiskey
powdered sugar
In a large mixing bowl stir together graham
cracker crumbs, 1 cup powdered sugar,
walnuts, and cocoa. Stir in corn syrup and
whiskey until well blended. Shape into
3/4-inch balls and roll in extra powdered
sugar. Place on a cookie sheet to dry (do not
bake). If the dough seems too sticky, you can
add a bit more graham cracker crumbs. If the
dough seems too dry, add a very small
amount of corn syrup. Let dry for 2-4 days
(until they are firm, and easy to handle and
bite into, but not rock-hard), then store in an
airtight container.
4th Quarter 2006