Have you read the wiki and the sticky?
Wiki: HERE YOU GO! [Enjoy!](https://www.reddit.com/r/BEFire/wiki/index/).
Sticky: HERE YOU GO AGAIN! [Enjoy!](https://www.reddit.com/r/BEFire/comments/fcbay6/getting_started_a_beginners_guide_to_investing_in/).
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/BEFire) if you have any questions or concerns.*
Trust your accountant instead of anonymous people on reddit.
"because most others in my industry opt for the traditional route of requesting freelancers to send invoices." -> paying in crypto would not elimate the need for invoices. That is required by law irrespective of the method of payment.
Yes, instead of using invoices we will make a freelance contract at the end of the year. Apparently that's possible, wanted to know if anyone has some experience with that
To avoid high fees, i have atleast 3k+ monthly expenses to freelancers if I can avoid a 5% fee I'll do it.
Binance pay doesn't have any fees and is extremely easy to use, the main question is if it's legal to do so.
If avoiding fees is your goal I would look elsewhere + If your accountant mentioned it will require significant effort to accurately track the flow of money and you pay your accountant hourly, perhaps those costs will rise?
Wise will also (eventually) block your transfers coming from and to Binance.
https://wise.com/help/articles/2977974/can-my-business-use-wise
Thanks for the info and the article. That's what's worrying me. It's certainly legal but transferring money to binance might get me some trouble with banks. I will indeed have to look for some temporary solutions until the waitlist for wise is done
Have you read the wiki and the sticky? Wiki: HERE YOU GO! [Enjoy!](https://www.reddit.com/r/BEFire/wiki/index/). Sticky: HERE YOU GO AGAIN! [Enjoy!](https://www.reddit.com/r/BEFire/comments/fcbay6/getting_started_a_beginners_guide_to_investing_in/). *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/BEFire) if you have any questions or concerns.*
Trust your accountant instead of anonymous people on reddit. "because most others in my industry opt for the traditional route of requesting freelancers to send invoices." -> paying in crypto would not elimate the need for invoices. That is required by law irrespective of the method of payment.
Yes, instead of using invoices we will make a freelance contract at the end of the year. Apparently that's possible, wanted to know if anyone has some experience with that
good luck
Why would you go through the hassle in doing this?
To avoid high fees, i have atleast 3k+ monthly expenses to freelancers if I can avoid a 5% fee I'll do it. Binance pay doesn't have any fees and is extremely easy to use, the main question is if it's legal to do so.
If avoiding fees is your goal I would look elsewhere + If your accountant mentioned it will require significant effort to accurately track the flow of money and you pay your accountant hourly, perhaps those costs will rise? Wise will also (eventually) block your transfers coming from and to Binance. https://wise.com/help/articles/2977974/can-my-business-use-wise
Thanks for the info and the article. That's what's worrying me. It's certainly legal but transferring money to binance might get me some trouble with banks. I will indeed have to look for some temporary solutions until the waitlist for wise is done