July 9, 2008 — St. John resident Jason Monigold has come up with an essential book for anyone in business in the Virgin Islands or thinking about starting a business.
"The ESSENTIAL Handbook for Businesses in the U.S. Virgin Islands" lays out in clear language how, where and what taxes need to be paid.
A companion booklet, "Starting a Business in the Virgin Islands," tells would-be business owners how to get launched.
Monigold, 33, wrote the books because he had a business partner who didn't understand the complexities of being in business in the Virgin Islands.
"The Essential Handbook for Businesses in the Virgin Islands" makes it clear in the first line.
"Taxes can get complicated….The less mistakes that are being made, the more efficiently everything will run," Monigold wrote.
The book spells out just how to fill out those forms, when the payments is due and provides the addresses of whatever government agency gets the payment.
Monigold tells readers that they must keep copies of everything. He said that on three different occasions he saved himself paying penalties because he had the necessary copies to prove that he had already paid the taxes.
He suggests enclosing a copy of the document and a stamped, self-addressed envelope in order to get a copy back that indicates it was received. That said, he wrote that it's better to pay the taxes in person if possible, especially to the Internal Revenue Bureau, to make sure business owners get proof of payment.
And Monigold suggests keeping track on a calendar to ensure that taxes get paid on time.
"Starting a Business in the Virgin Islands" provides lots of useful information, including applying for your telephone line as soon as you get your business name approved by the Lieutenant Governor's Office.
And he supplies this essential tip.
"No one will tell you, but the clock starts ticking the day you get your business license. You need to be sure you are filing the taxes for your new company right away." Monigold wrote.
And if you've waited more than a week for paperwork to be approved, call to check on it.
To publish "The Essential Handbook for Business in the U.S. Virgin Islands" and "Starting a Business in the Virgin Islands," Monigold started his own publishing company, Plantain Press. He runs it out of his Computer Express computer consulting company office, located inside Connections Cruz Bay office.
A graduate of Oregon State University, he moved to St. John in 2004 just after completing a bachelor's degree in computer science.
"It rained too much in Oregon and I didn't like the job offers I had because they were all in cubicles," he said.
"The Essential Handbook for Businesses in the U.S. Virgin Islands" runs $40, with "Starting a Business in the Virgin Islands" costing $14.95.
The book will be available at bookstores across the Virgin Islands. The booklet is now at the printers and will be available shortly. Both may also be purchased from www.vitaxhelp.com
by using PayPal.
Reach Monigold at 693-2660.
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