I have always had an active imagination. I love to dream of what if........So today, I decided to blend reality with fiction with the question.......
"If Santa was Our Client, what could we do for him?"
Get the Right Business Structure
The opportunities to do business with Santa Claus are immense. First thing I would do is determine how he should legally organize his business. Santa Claus has a big money making enterprise. Does he want to be a 501 (c)(3) nonprofit or does he want to be a multinational business like Google and Microsoft? We would definitely move his intellectual property off shore as well as the licensing of his image and name. We would make sure he pays little to no tax on his world wide income, just like Microsoft and Google.
Help Santa Pick Software
Santa has a world wide operation. He needs to make sure all of his systems are connected. From Christmas Wish List receipts, purchasing, manufacturing, delivery, payroll for the Elves, paying vendors, collecting royalties and donations, Santa has a complex needs list. QuickBooks wouldn't handle the job, but we have experience with much more sophisticated cloud based solutions that will help Santa be able to work anywhere in the world and be plugged into his systems.
Put Financing In Place
Santa has huge cash flow needs. He needs lots of money to fund this operation. We could put loans in place so he can expand his facilities and since most of his cash comes in the last 3 months of the year, we can get him a much needed working capital line. We can also get him a treasury management system that will optimize his cash.
Of course, lots of effort will be spent minimizing taxes. Santa will be facing a huge tax increase if he were a US citizen, and if he were French, 75% of his income over $1,250,000 goes to income tax. So we would be pulling all his worldwide income into tax free havens and making sure that he is not a citizen of France!
I wish each and every one of you a Merry Christmas and a Happy New Year and hope Santa brings you what you asked for.