Thursday, 5 November 2015

Learning About the Different Business Structures in Israel

I spent an enjoyable morning today at the Jerusalem Nefesh b'Nefesh office in a very informative workshop. The workshop was on "Choosing the Right Legal Structure for your Business". The workshop was a little over two hours long and presentations were offered by both a lawyer and an accounting firm.

The legal side was presented by Russell Mayer who has his own legal firm in Israel,  Livnat Mayer & Co. Attorneys at Law and also a FaceBook group entitled "Ask an Israeli Lawyer".  In the limited time available, Russell outlined the different types of for profit and not-for-profit options for working independently, including some important tips relevant for Olim. 

The accounting side was presented by Jeff Nurkin & David Beychok of NurkinCPA. This presentation included a lot of information for Olim who are US citizens. If you have made Aliyah from the US, it is a good idea to consult with an accountant who is an expert in US taxes. There are many details to take into consideration even if one has married an Israeli. 

A definite bonus for me was to discover that Nurkin CPA assists with applying for the ITIN number. If you are not a US citizen and publish a book via an American company such as CreateSpace, you will need to apply for an ITIN number. Now you can know where to go to for assistance in this process.

After a full question and answer session, for some details we were recommended to consult with an Israeli Accountant. A wonderful piece of advice was that most accountant will give about half an hour of a free session in which you can ask questions related to your work. It is of benefit to the accountants as if they provide the answers you require, you are more likely to hire their services.

If you know of any good Israeli accountants, prepared to give advice to Olim wanting to work privately or to be self-employed, do be in touch, we love to develop a list of who to turn to for such information. Please note, comments are moderated. We do not permit SPAM. Any accountant (or other professional) that we add in a list we will be in touch with to get to know prior to listing them on this blog.

Thank you for your co-operation and understanding.

Have a blessed day and wishing you much success in Israel.

Shoshanah Shear

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